Description of Department/Service

The Finance Department is responsible and accountable for the accuracy, quality and validity of all accounting transactions and production of monthly management and statutory financial reporting.

Financial Accounting & Compliance

The Financial Accounting unit houses the Hospital financial functions of payroll, settlements and accounts receivable (incorporating the cash office) and the compliance unit. The main roles of the division is to underpin the financial accounting processes and controls and communications process for the payment of salaries and wages to employees, invoice payments to vendors and proactively to manage the patient/agency debtor collections process.

The Compliance Division ensures that the Hospital is compliant with all applicable laws and financial regulations. Duties range from: monitoring financial transactions; compliance with accounting standards and policies; completion of the annual financial statements and coordinating the external financial audit.

Management Accounting

The Hospital operates a budgetary management process within the context of an annual service plan incorporating annual and monthly budgeting. In this context, the Management Accounting unit is responsible for all Clinical Directorates, Corporate Departments and other Cost Centres for pay, non-pay and income budget preparation.

Monthly analysis and reporting of net outturn versus plan is a core function of this unit. It is responsible for the preparation of the annual specialty costing exercise and the development of patient costing information systems.