Author : Great Britain: Parliament: House of Commons: Committee of Public Accounts
Release : 2012-02-02
Genre : Business & Economics
Kind : eBook
Book Rating : 586/5 ( reviews)
Book Synopsis Excess votes in 2010-11 by : Great Britain: Parliament: House of Commons: Committee of Public Accounts
Download or read book Excess votes in 2010-11 written by Great Britain: Parliament: House of Commons: Committee of Public Accounts. This book was released on 2012-02-02. Available in PDF, EPUB and Kindle. Book excerpt: The Committee of Public Accounts scrutinises the reasons behind individual Departments exceeding their allocated resources, and reports to the House of Commons on whether it has any objection to the amounts needed to rectify the reported excesses. The Committee may also make recommendations to Departments concerning the causes of these excesses. In 2010-11, two bodies breached their expenditure limits: The Department for Transport breached its Net Cash Requirement by £335.2 million, primarily because of weaknesses in monitoring its budget for the operation of its rail franchises; The Teachers' Pension Scheme (England & Wales) breached its Net Cash Requirement by £11.9 million because the Department for Education underestimated the number of members that would retire in 2010-11 and overestimated the contributions that would be collected from employers. On the basis of an examination of the reasons why these two bodies exceeded their voted provisions, the Committee has no objection to Parliament providing the necessary amounts by means of an Excess Vote. Nevertheless, it expects both bodies to set out what actions they have taken to improve their financial management and avoid exceeding their allocated resources in the future.
