Annual Report 2010 Publisher full - Offaly County Council

Finance
• Housing Rents, Planning Fees, Commercial Water Charges,
Landfill and other Fees.
Our Goals
To plan the strategic financial management of Offaly Local
Authorities and deliver the services of the finance function in an
efficient, effective and professional manner.
Our Strategies
• Develop accounting and management information systems
that deliver the best possible basis for future planning,
budgeting and decision making in order to maximise
financial resources available.
• Promote and direct Value for Money concepts and foster a
culture of effective use of resources.
• Prepare an annual financial budget that reflects our
corporate objectives.
• Enhance the Financial Management System and in
particular, the provision of more meaningful financial
management information.
• Ensure prompt payment to suppliers.
Our Services
The Finance Department deals with both the short and long term
financing of all the Council’s operations, both of a Revenue and
Capital nature. This involves:
• Monitoring and controlling income and expenditure.
• Arranging borrowing/leasing requirements.
• Treasury Management
• Compliance with all statutory and financial accounting
principles, which apply to all monies paid by or to the
Council.
The Council’s revenue and day-to-day expenditure is funded from
sources such as:
• Commercial Rates;
• Local Government Fund;
• Government Grants;
Main Sections within Finance
Financial and Management Accounting
Financial reporting is the preparation of the Annual Financial Statements
and other statutory returns and dealing with the Local Government
Audit process. Management Accounting is the preparation of
monthly management reports to assist with budgetary control and
the decision-making process within each directorate. The Annual
Budget process is managed in this section, in consultation with all
the service divisions. This section provides variance analysis, costing
information and other financial information required by internal and
external customers.
Central Revenue Collection
The recovery of Commercial Rates, administration of Housing Loan
accounts, Water billing, collection and receipt of all monies due to
the Council.
Accounts Payable
The processing and payment of suppliers invoices with statutory deductions
and the completion of statutory returns. We are extending
the use of Low Value Purchase (LVP) cards in order to increase efficiencies
in the processing of low value transactions.
Payroll
The processing of the wages, salaries, pensions and the completion
of statutory returns to Revenue Commissioners and other agencies.
The implementation of the Core payroll system in late 2009 has
streamlined payment patterns.
Motor Taxation Office
The Council collects vehicle licence duties and issues driving licences
within its functional area on behalf of the Department of the
Environment, Heritage and Local Government
Page 64 | Offaly County Council Annual Report 2010