Wiltshire Council Finance Department

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Wiltshire Council’s Finance Department plays a critical role in managing the financial resources of the unitary authority, ensuring the delivery of essential services to the residents of Wiltshire. The department is responsible for a wide range of functions, including budget preparation and monitoring, financial accounting, treasury management, procurement, and internal audit.

One of the department’s primary responsibilities is developing and managing the council’s annual budget. This involves forecasting income from various sources, such as council tax, business rates, and government grants, as well as projecting expenditure across all council services, from social care and education to highways maintenance and waste collection. The Finance Department works closely with other departments to understand their needs and priorities, ensuring that the budget aligns with the council’s strategic objectives. Budget monitoring is an ongoing process, with regular reviews to identify variances and ensure that spending remains within approved limits.

Financial accounting is another core function, encompassing the accurate recording and reporting of all financial transactions. The department prepares the council’s annual accounts, which are subject to external audit. These accounts provide a transparent record of the council’s financial performance and position, allowing residents and stakeholders to understand how public money is being spent. The Finance Department also manages the council’s balance sheet, ensuring that assets are properly valued and liabilities are managed effectively.

Treasury management involves managing the council’s cash flow and investments. The department aims to maximize returns on surplus funds while minimizing risk. This includes investing in a range of instruments, such as government bonds and short-term deposits, in accordance with the council’s treasury management strategy. The department also manages the council’s borrowing requirements, ensuring that debt is raised on favorable terms and that repayment schedules are sustainable.

Procurement is a significant area of responsibility, ensuring that the council obtains goods and services at the best possible value. The Finance Department oversees the council’s procurement processes, ensuring compliance with legal requirements and best practices. This includes tendering for contracts, evaluating bids, and managing supplier relationships. A key focus is on promoting sustainable procurement practices, considering environmental and social factors alongside economic considerations.

Internal audit provides an independent and objective assessment of the council’s internal controls and risk management processes. The department conducts audits across a range of areas, identifying weaknesses and recommending improvements to ensure that resources are used effectively and efficiently. Internal audit reports provide valuable insights to senior management and councillors, supporting informed decision-making and promoting good governance.

In recent years, Wiltshire Council’s Finance Department has faced significant challenges due to funding cuts from central government and increasing demand for services. The department has had to find innovative ways to deliver services more efficiently, exploring opportunities for shared services, digital transformation, and income generation. The ongoing focus is on ensuring financial sustainability while maintaining the quality of services for the residents of Wiltshire.