Capital Budgets Revenue Budgets
As a Non-Departmental Public Body, NIFRS is funded directly from the block grant allocation made to the Department of Health. NIFRS receives both Capital and Revenue budgets.
Our Revenue Budget is allocated at the start of the financial year and funds the annual costs of running the organisation.
Our Capital budget is allocated at the start of the financial year and is used for investment in our assets and infrastructure.
Our 2020/21 allocation was £8.390m*
*Includes £1.22m ring fenced funding for LDC Cookstown
Our Revenue Budget is allocated at the start of the financial year and funds the annual costs of running the organisation.
Our 2020/21 allocation was £79.856m
It is difficult to balance long-term financial planning against an annualised budgeting framework as we are unable to carry reserves and must use funding in the year that it is allocated to us. This places significant financial pressure on the Service and when allocating our budget, we need to prioritise against risk while striving to improve the way we provide our service.
We are embracing this challenge and working with the Department through our Transformation Programme to agree a funding model for the future that will support and enable longer-term strategic financial planning cognisant that people are our primary resource and expense.
We have developed a 10-year strategic capital plan which clearly highlights that significant capital investment is required to repair and modernise our estate, IT infrastructure and operational equipment.
The need, as articulated in the 10-year strategic capital plan, is significantly higher than the 10-year indicative budget therefore difficult decisions will be required as to how we prioritise capital projects.
As an organisation we are committed to developing a long-term financial strategy as an integral part of our strategic planning. The strategy will help us to plan how we will deliver our strategic outcomes against continued austerity and budget pressures.