Corporate Finance
The Corporate Finance Division consists of the Corporate Strategy and Resources Section the Corporate Accountancy and Control Section and the Finance IT Section.
A list of available publications produced by Corporate Finance
Statement of Accounts 2006-2007
Statement of Accounts 2005-2006
Statement of Accounts 2004-2005
Annual Audit and Inspection Letter 2005-06
Annual Audit and Inspection Letter 2004- 05
Who makes up the Corporate Finance Team:
Corporate Strategy and Resources Section
This section co-ordinates the setting of the Council’s revenue and capital budget and oversees the corporate budget monitoring process. It is a source of expertise on local government finance issues and provides appropriate briefings to Members and Chief Officers as well as leading on relevant consultation responses. The section also ensues that appropriate financial advice is provided within Committee, and other, reports.
Local authority capital investment is now governed by the Prudential Code. The section ensures that the Council complies with, and makes effective use of the Code. The section recommends financial limits for the use of external contractors and ensures that contracts have been let in compliance with financial regulations.
Corporate Accountancy and Control Section
This section consists of the Corporate Accountancy Team and the Control Team.
The Corporate Accountancy Team is responsible for the provision of specialist technical accountancy advice and for ensuring that the Council complies with statutory accounting standards and practices, that include: The Code of Practice on Local Authority Accounting in the UK, The Statement of Recommended Practice (SORP) and the Best Value Accounting Code of Practice (BVACOP)
The section is also responsible for the co-ordination and production of the Council’s Annual Statement of Accounts. The Government has set earlier deadlines for local authorities to finalise, prepare and publish their accounts and the section is responsible for developing strategies and procedures to ensure that these earlier deadlines will be met.
The Control Team has specific responsibility for the efficient and proper maintenance and control of the Council's bank accounts. In addition, the team ensures that management information is as up to date, and as reliable as possible, by promptly setting up suppliers in OLAS, undertaking weekly reconciliations of petty cash, and administering the periodic payments system.
Finance IT Section
This Section is responsible for developing, implementing and supporting the Corporate Financial and Procurement Systems and for providing IT support to all staff in the Finance department.
This section consists of the Systems Support Team and the Systems Development Team.
Insurance
The Insurance Section of the Finance Department has now moved from the Exchequer Division and is now a part of the Corporate Finance Team.
To read more about the Insurance Section please click the following link. Insurance
