The Finance Department plays a vital role in ensuring the financial stability and accountability of the Council. Guided by the Urban Council’s Act (29:15), the Treasurer and the Finance Department provide sound financial oversight and strategic direction to Council. In addition, the department offers corporate support services to operational departments, enabling efficient management of resources and compliance with statutory obligations.

Departmental Service Commitments and Standards

The Finance Department is dedicated to maintaining the highest standards of financial management, ensuring transparency and efficiency in all operations. Our core commitments include:

• Collection of Revenue
  Ensuring timely and accurate collection of all forms of revenue, including taxes, fees, and levies, is crucial for funding the Town’s services and development initiatives. The department is committed to optimizing revenue streams to meet the financial needs of the community.

• Monitoring Budget Performance
  Continuous monitoring of budgetary allocations ensures that all departments remain within their financial limits. The Finance Department tracks the financial performance of the Council’s operations, identifying areas for improvement and ensuring fiscal discipline.

• Preparation of Financial Statements
  The department is responsible for preparing regular financial statements that reflect the Town’s financial position, ensuring transparency and accountability to stakeholders.

• Preparation of Annual Budgets
  Developing the annual budget is a critical function of the Finance Department. This process involves forecasting revenues, allocating resources, and setting priorities to ensure the efficient use of public funds.

• Provision of Financial Advice
  The Finance Department offers expert financial advice to the Council, aiding in decision-making on matters such as investments, fiscal policies, and resource allocation. This ensures that all financial decisions are sound and in the best interest of the Town.

• Allocation of Financial Resources
  Proper allocation of financial resources ensures that all operational departments have the funds necessary to execute their mandates. This is done with careful consideration of the Town’s priorities, operational needs, and long-term goals.

Departmental Functions

The Finance Department is responsible for the production of Audited Financial Statements, which provide a comprehensive and accurate account of the Town’s finances. These statements are shared with both the Council and external stakeholders, ensuring transparency and compliance with financial regulations.

1: Finance Administration

This section oversees the general administration of financial operations within the Council. The team ensures compliance with financial policies, implements internal control measures, and manages the day-to-day financial transactions.

2: Expenditure Management

The Expenditure team is responsible for monitoring and controlling the Council’s expenses, ensuring that payments are made on time and that funds are disbursed efficiently. This includes payroll management, vendor payments, and ensuring that expenditures are aligned with the approved budget.