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Accountancy

Introduction

The Council operates a centralised Accountancy support service with all statutory accountancy duties the responsibility of the Accountancy Division.

Divisional Objectives

To provide all services and stakeholders of Merthyr Tydfil County Borough Council with reliable, timely and meaningful financial information and advice to assist them in achieving both their individual and corporate objectives, whilst complying with Government legislation in ensuring that financial statutory requirements are fulfilled.

Responsibilities

The Division’s main responsibilities include:

• Co-ordination of the County Borough Council’s annual budgetary process, involving a close working relationship with every service of the Authority. This includes both the Revenue Estimates and Capital Programme.
• Compilation and production of revenue and capital budgetary monitoring statements. Monthly reports are prepared for Service and Departmental Managers with quarterly statements reported to the Council’s Cabinet portfolio Members.
• Closure of the Council’s annual financial accounts including the publication of the annual Statement of Accounts. This public document, outlining the annual financial health of the Council, is reported to elected Members of the Council and is subject to independent scrutiny by auditors external to the Council.
• Compilation and publication of the Council’s annual Treasury Management Policy Statement  and Annual Investment Strategy where activities concerning the management of the Council’s cash flows, banking, money market and capital market transactions are defined.
• Maintaining and updating the Council’s financial management systems, financial coding structure and accounting asset register.
• Completion of statutory grant claims and financial statistical returns in respect of both governmental and non-governmental bodies ensuring that the Council’s potential available funding is maximised.
• Representation on Council Corporate Working Groups to advise on financial matters.
• Administration of the Council’s vehicle and equipment operational leasing procedures