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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
slide11
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 