1. THE ANNUAL FINANCIAL STATEMENT AND ASSETS
This subsection is, amongst other things, responsible for:
- Preparation of interim and annual financial statements
- Facilitating the external audit process
- Ad hoc financial reporting to external stakeholders
- Performing monthly bank reconciliations
- Managing a GRAP compliant assets register
- Managing the short-term insurance portfolio
2. CREDITOR AND CASH MANAGEMENT
This subsection is responsible for
- Responsible for the payment of Creditors
- Sundry payments to employees and other stakeholders
- Invest Councils funds to Financial Institutions and receive the best return on investments
- Administration of the loans process and the repayment thereof.
- Manage the cash in-flow and out-flow of municipality
- Responsible for the administration of the insurance claims process
- Compiling monthly financial reports to Council and National Treasury
3. BUDGET AND FINANCIAL SUPPORT SUB-SECTION
This subsection is responsible for
- Compilation and submission of Medium Term Revenue Expenditure Framework (MTREF)
- Compiling monthly financial reports to Council, National & Provincial Treasuries
- Submission of monthly & quarterly grant expenditure returns to National & Provincial Treasury, CoGTA & other spheres of government.
- Management of Payroll and payroll related policies
- Financial and Cost management
- Ledger maintenance
- Preparation of management and exception reports
- Providing support to other departments on budget related matters
