Finance
Director, Andy Felton
Purpose:
- Supporting appropriate analysis, provision of information and professional advice to help services and the organisation make good decisions, at the right time, in line with Council Plan priorities.
- Ensuring financial, procurement and administrative processes are efficient, fit for purpose, deliver the right outcome first time and to appropriate timescales for customers and service users.
- Help services and the organisation efficiently remain compliant with legal and professional requirements.
Finance brings together the following services:
Strategic Finance
The Strategic Finance Team provides strategic financial advice, guidance and information to the Authority’s elected members and senior management to support effective decision making through delivering a wide range of services.
Services:
- A robust and resilient financial framework to support effective budget creation and monitoring
- A sustainable rolling 5-year Medium Term Financial Strategy and an annual balanced budget
- Comprehensive in-year financial management information
- Maintenance of the Authority’s robust system of financial controls
- The annual statement of accounts and other statutory returns
- Financial assurance for the revenue and capital Investment Funds and the council's investments in the Warwickshire Property and Development Group and the Warwickshire Recovery and Investment Fund
Operational Finance
The Operational Finance Services Team supports all services and (on a traded basis) a range of schools to effectively and efficiently manage their budgets and financial position both on a day-to-day and also on a longer term basis.
Services:
- Operational Finance Teams provide financial advice and financial management support to DLTs and cost centre managers at all levels of the organisation
- Effective and regular financial reporting, including support and challenge to the budget monitoring and forecasting process, reporting on budget variances, mitigating actions and savings delivery
- Assessment of financial implications, support to business case development and commissioning activities including financial modelling and analysis
- Closedown of accounts and completion of statutory and non-statutory returns
- Development of technical solutions to optimise support to financial processes and improve integrity, accuracy and timeliness of accounting data
- Warwickshire Education Finance Services provide an absence insurance scheme to schools as well as traded financial management support services, training and advice to schools, academies and MATs to optimise resources and make sound, evidence-based strategic decisions
- Identification of and support to schools in deficit or at risk of deficit
- Clerking and coordination of Schools Forum
Investment, Treasury and Audit
The Audit Service provides independent assurance that services have adequate controls in place.
The Insurance Service ensures adequate insurance arrangements are in place such that insurance risks are managed appropriately;
Treasury Management and Investment manages the council's cash, getting the best returns on investments, the best deals on borrowing, and ensuring cash is available at the right time to fund operations and capital spending, and is responsible for managing non-treasury investments including local impact investing;
Pension Investments is responsible for the management and governance of the Warwickshire Pension Fund valued at over £2.7bn, it ensures enough funds are available and that the right policies and practices exist so that pensions are paid correctly when due.
Risk Management is responsible for ensuring appropriate arrangements are in place to pro-actively manage the risks and opportunities facing the council.
Services:
- Pension fund governance and policy
- Pension fund investment management
- Treasury management
- Non-Treasury investments
- Insurance services
- Risk management
- Internal audit
Finance transformation and transactions
Ensuring the council pays its suppliers and collects income from its customers efficiently and effectively, that its financial systems are fit for purpose now and into the future, and that sound financial management is a fundamental part of delivering transformative change for the county.
Services:
- Finance projects
- Financial systems
- Accounts payable and receivable
- Debt recovery
- Financial assessments, benefits advice, income collection and debt recovery for social care clients
- Pensions administration
Commercialism and Procurement
Leads the development and commissioning of Commercial and Procurement Strategies, ensuring commercial opportunities deliver social values and environmental benefits in line with the Council Plan whilst providing a financial return. Acts as a centre of excellence for the council on procurement and contract management driving best value from the council’s procurement and contract management provision.
Services:
- Oversight of Traded Services Performance
- Commercial Investments and Strategic Procurement
- Procurement and Contract Management
Pensions Administration
The Pensions Administration Team manages pensions services for members and employers of the Warwickshire Pension Fund Local Government Pension Scheme. It is also responsible for the provision of pensions administration of the Warwickshire Fire Pensions scheme.
Services:
- Services to active and deferred scheme members, pensioners and beneficiaries
- Employer relations
- Compliance with statutory and regulatory requirements, and scheme governance
Business Support
Business Support helps the organisation deliver its outcomes to residents and businesses through the delivery of effective and efficient administrative process. There is a focus on eliminating avoidable demand and waste work and delivering what matters to services being supported. Business Support does this by delivering change in a systematic way, identifying what residents and businesses need, and redesigning the way we do things to deliver right first time in a timely fashion against need.
The service provides administrative business support to:
- Childrens and Family Services
- Adult Social Care
- Education Services
- Communities and Resources
- Postal, Printing and Stationary Services