Innovative approach to finance recognised in national awards

21 February 2017

Aberdeen City Council has been shortlisted in three categories in the 2017 Public Finance Innovation Awards.

The awards are run in association with the Chartered Institute of Public Finance and Accountancy (CIPFA) and celebrate outstanding achievements and innovation in public finance and governance.

Across 15 categories they showcase and highlight how innovation has pushed the public finance and governance sectors forward over the past year.

Aberdeen City Council is shortlisted in the following categories: finance team of the year; finance training and development initiative; innovation in treasury and asset management.

The finance team was the focus of national attention in November when Aberdeen City Council completed a successful £370million bond issue, having been awarded a credit rating by Moody’s, and became the first local authority in Scotland to do so. The Council was invited to open the London Stock Exchange in January to mark the achievement.

Councillor Willie Young, Aberdeen City Council Convener of Finance, Policy and Resources, said: “Aberdeen City Council’s finance team has been at the forefront of delivering innovative financial solutions.

“The Council has embarked upon an ambitious capital investment programme and that ambition has been matched by innovation - demonstrated by the bond issue, which is designed to provide best value for the people of Aberdeen.

“To become the first local authority in Scotland to use this funding mechanism is testament to the knowledge and professionalism of the team as well as the Council’s drive to look for new and improved ways of working.

“The award nominations provide deserved recognition, not only in relation to the bond but in terms of the work being done in treasury and asset management as well as training and development.”

The inaugural Public Finance Innovation Awards will take place on 20 April in London.