The NI Budget process sets departmental budget allocations for the year ahead. The in-year monitoring process then provides a formal system for reviewing spending plans and priorities during the financial year in light of the most up-to-date position. The purpose of this is to support financial management and redirect resources where necessary in line with the NI Executive’s priorities and the outcome is published by way of a Ministerial statement.
The NI Fiscal Council plans to publish a short technical paper providing recommendations on how information provided by or alongside these statements could be expanded to improve transparency.
The NI Fiscal Council intends to publish Improving transparency of in-year monitoring on Thursday 26 October 2023.