The finance team
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The Finance Team…. The Finance Department includes the following staff: Anna Bartlett – Finance Manager Marc Cassidy – Rates Officer Jenni Elso – Payroll Officer Narelle Greenwood – Finance Officer Maryanne Stone – Accounts Payable Officer Sheryl Wright – Debtors Officer. Our Role….

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The finance team

The Finance Team…

The Finance Department includes the following staff:

Anna Bartlett – Finance Manager

Marc Cassidy – Rates Officer

Jenni Elso – Payroll Officer

Narelle Greenwood – Finance Officer

Maryanne Stone – Accounts Payable Officer

Sheryl Wright – Debtors Officer


Our role

Our Role…

The Finance Department plays an important part

in day to day Council operations. For example:

  • Can you imagine what it would be like to work without an operating budget?

  • What if you didn’t receive your wages on a timely basis?

  • What if our suppliers of goods and services were not paid on time?

  • Or, if there were no funds in Council’s bank account to pay your wages??


Operating budget

Operating Budget

  • Every year the Finance Department is responsible for the completion of a Annual Budget followed by a Mid Year Budget Review

  • The Budget is split into eight functions/activities:

    • Community

    • Health & Human Services

    • Economic Development

    • Culture & Heritage

    • Recreation & Leisure

    • Transport

    • Waste & Environment

    • Administration


Operating budget1

Operating Budget

  • Council has a current operating revenue budget of approximately $32 million dollars.

  • Of this $32 million, $30 million is allocated towards operating expenditure including over $10 million for Council’s capital works program.

  • As you would imagine spending and receiving these funds, involves more than just a few transactions…


Accounts payable

Accounts Payable

  • Maryanne processes a fortnightly cheque-run

  • This involves the processing purchase orders, checking and matching invoices to purchase orders, ensuring invoices are accurate and appropriate, then processing invoices for approval and payment.

  • For the current year to date 2,557 creditor cheques have been raised totalling $14.09 million dollars.

  • This is a significant amount of $$, especially when compared to the 2009/2010 total which was only $13.64 million in 3,272 cheques.


Other payment types

Other Payment Types

  • Other payment methods include Council’s “Advance” cheque account (for urgent/one-off cheques), Purchasing Cards, Petty Cash, and the occasional EFT transfer and Direct Debit using Council’s bank account


Payroll

Payroll

  • Jenni processes a fortnightly pay transfer.

  • Council has approximately 190 employees with an EFT around 140.

  • Each fortnight individual timesheets must be processed, employees leave entitlements are managed, superannuation is calculated and then paid, other employee deductions are processed, and payslips are produced and circulated.

  • Each fortnight a pay transfer of around $300,000 takes place.

  • For 2009/2010 Council’s total employee costs amounted to $8.21 million.


Rates

Rates

  • In 2009/2010 Rates represented 40% of income.

  • Council’s total rateable property valuation pool is currently in excess of $1.368 billion dollars!!

  • In 2010/2011 Council levied approximately $9.014 million in rates and charges to over 8,000 ratepayers.

  • With over 8,000 ratepayers, the Finance Department, in particular Marc, is kept quite busy not only during February (when we collect approximately 62% of Council’s rate revenue) but throughout the year.

  • Tasks include managing Council’s property database , issuing rate notices, handling never-ending ratepayer queries, collecting and receipting rate payments and following up on outstanding monies owed to Council.


Debtors

Debtors

  • In addition to Rates, Council’s other main income streams are Grants (37% of income in 2009/2010) and User Charges, Fees & Fines (11%).

  • The receipting of these revenue items generally involves the issuing of invoices, and monthly statements, with these processes being performed by Sheryl.

  • Sheryl also handles all debtor related queries, and follows up on unpaid invoices on a regular basis.


Financial reporting

Financial Reporting

  • Narelle and myself perform regular reporting of financial transactions including the following:

    • A monthly BAS, and an annual FBT return

    • Monthly Account Management reports comparing budgeted against actual results

    • Monthly Council Finance Report

    • Monthly Executive Finance Report with detailed variance analysis of income, expenditure and capital works programs

    • An annual financial report which is subject to audit by the Victorian Auditor General’s Office

    • We also assist with and complete a number of other ad hoc financial reports, and acquittals each year


The finance team

Hopefully after this presentation you will

have a better understanding of the Finance

Departments role, in particular:

  • The significant transactions which we deal with on a daily basis

  • The role we play in relation to financial reporting and accountability

  • How important it is to have an effective finance department to ensure money is in the bank, bills are paid on time and I guess most importantly, that you all are paid on time!!

  • Any questions??

  • Thankyou 


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