Financial Planning and Performance
- Assist the Finance Managers with the preparation of annual budgets, in liaison with budget holders
- Ensure that the budget setting process is adhered to and that deadlines are met.
- Assist in all aspects of supplying financial information to budget holders and other finance staff.
- Assist with the design and development of supplementary reports analysing activity, income and expenditure, presenting these reports to Management Accounts staff and budget holders.
- Meet with budget holders on a regular basis to discuss issues raised in the monthly budget reports, budget changes, the causes of management overspends, and the implications of proposed staff changes.
- Raise queries and discuss with budget holders adverse performance which is not being satisfactorily addressed
- Identify and assist in the investigation of material variances, advisebudget holders as necessary, agree and monitor the progress and effectiveness of corrective action.
- Record budget adjustments on a monthly basis and reconcile to the general ledger, including maintenance of the recurrent budget position.
- Provide senior finance staff with a monthly summary of financial performance of services within own area of responsibility including highlighting key trends, variances and forecast outturn.
- Advise senior finance staff of any major discrepancies in budgets.
- Provide expert budget and financial advice and training to budget holders and Care Group Managers. To provide guidance and interpretation of the Trust’s Financial Procedures and Standing Financial Instructions where necessary.
- Respond to queries from budget holders within a reasonable period
- Be pro-active in the provision of financial information to budget holders and in resolving queries.
- Work with budget holders to identify savings and efficiency plans, monitoring the achievement of the savings against the plans.
- Prepare expenditure and budget journals, including accruals, prepayments and income in advance and post to the ledger.
- Contribute to the preparation of monthly budget reports along with supporting analysis for relevant budget holders and managers, ensuring financial reporting timetables are met.
- Review the budget/expenditure reports for areas of responsibility on a monthly basis. Highlight areas of concern to Management Accountant and what, if any, courses of action can be taken.
- Prepare ad hoc reports and analyses for senior finance staff and budget holders.
- Provide information to the Management Accountant to assist in the preparation of monthly Board and Executive reports
- Maintain an awareness of all key Trust-wide financial issues and contribute to the achievement of the Trust’s financial targets.
- Maintain a knowledge of national and NHS accounting regulations
- Manage own time ensuring all deadlines are met on a timely basis
- To ensure adequate procedure notes are available and kept up to date for all aspects of the finance function that the postholder is responsible for.
- Provide input to the annual reference costs exercise and Service Line Reporting (SLR) as required.
- Carry out any ad hoc work as may be required from time to time to satisfy the requirements of the Finance Department and the Trust.
- Assist in the production of the Trust’s annual accounts.
- Propose changes to working practices and procedures and implements these in own area.
- Contribute to the development of the financial system with particular emphasis on improving the quality and range of management information.
- Provide input to proposed policy changes within the finance function.