Strategic Risk Register May 2012
Risk Ref AMBER 9
Impact Critical
Likelihood Medium
Risk Owner Debbie Mogg
Risk Manager Sharon Dring
Risk Name: Financial Position
Risk Description: Failure to keep the Medium Term Financial Plan (MTFP) in balance
Risk Controls:
• 5 year MTFP in place rather than 3 year
• MTFP set up for use as a financial modelling tool
• Use of reserves
• Robust financial management
• Efficiency savings programme
Actions:
• Close monitoring of savings achievement
• Star Chamber process to commence early summer 2012 to start to develop longer term savings plans to address the deficit in the later years of the MTFP
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