Source: https://tendernation.io/opportunities/01a13bf3-988e-72b0-818f-9181e4c774f4/r5108-developing-the-mtfs-a-lbth-medium-term-financial-strategy-transformati awarded GB open procedure # R5108 Developing the MTFS – LBTH Medium Term Financial Strategy & Transformation Programme 2017 - 2020 [London Borough of Tower Hamlets](https://tendernation.io/buyers/london-borough-of-tower-hamlets) Pays 92% within 30 days Estimated value £1,200,000 Published 18 Nov 2016 Deadline Closed 31 Aug 2016 ## Who can bid - Open procedure Anyone can submit a full tender; there is no shortlisting stage. ## About this tender Tower Hamlets is one of the most improving councils in the country. We have Investors in People status council-wide and are also proud to have achieved the highest level of the Equality Standard. However, the Council continues to face significant financial challenges due to the government’s ongoing austerity measures which will result in further reductions to the Public sector funding envelope. The Council currently spends a total of £1.2bn on its activities, including schools and Tower Hamlets Homes and has a net General Fund revenue budget of £362m in 2016/17. We estimate that savings of some £60m will be required over the MTFS period 2017/18 to 2019/20. Understanding and prioritising all of the Council's resources over the medium term – both revenue and capital – is critical to its future financial sustainability and service effectiveness. In order to address these financial challenges, the Council will need to;  Manage its resources in the context of funding uncertainties, a rising population and increasing demand for some of its key services including adult social care.  Radically change how the Council prioritises and allocates its resources, including through investment and saving decisions  Create a better alignment of Council budget/services to its Strategic Priorities. The Council has set up Transformation Programme to identify and deliver the savings required and this contract is intended to secure a strategic partner who will provide support and specialist expertise to the Councils saving/ transformation programme over the MTFS period. The strategic partner will be required to:  Assist in devising a longer term savings strategy for the Council covering the MTFS period  Embed the outcome based budgeting methodology to support the process  Support member participation and wider stakeholder engagement in the process  Bring specialized knowledge and expertise on implementing cross cutting and transformation change  Support the use of a robust project management discipline and methodology  Bring innovative solutions that will help deliver council services at lower cost.  The contract is expected to span 3 years over the MTFS period and core costs will be in the region of £250k to £400k per annum, potentially £750k to £1,200k over period. Separately commissioned work either through the partner or directly by the Council will supplement these resources. The work will underpin delivery of a £60m savings programme. Read full description ## CPV classification Financial and insurance services Source Contracts Finder (UK) [View official notice](https://www.contractsfinder.service.gov.uk/notice/469c32b4-adca-11e6-9901-0019b9f3037b) Never miss a tender like this again Get AI summaries, deadline alerts and a bid pipeline for tenders matched to your business. Free to start. 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