3.3 As HM Treasury's Permanent Secretary, Nick Macpherson is the Senior Responsible Officer for the Treasury Group's VfM programme. He is the chair of the Treasury Board and the Principal Accounting Officer, with overall responsibility for Group's finances. During the planning and implementation stages the Permanent Secretary is supported by a Programme Board, which is providing oversight and challenge to the development of the delivery plans and ensuring that interdependencies and risks against the programme as a whole are managed.
3.4 The VfM plan will be fully integrated into delegated budgets so that performance against the plan corresponds to performance against budget. Performance against the Group's budget is monitored by Treasury Group's Finance Committee, which is chaired by John Kingman, Second Permanent Secretary, HM Treasury. The Finance Committee is a sub-group of Treasury Group's Board that meets on a monthly basis to discuss the financial performance of the Group and associated risks.
3.5 Treasury Board regularly receives summary information on the Group's financial and operational performance and associated risks.