Investments

INVESTMANTS

Finance

Specifically, the principal duties and responsibilities of the Finance Department are as follows:

To organize the financial and accounting affairs
To ensure costs are controlled
To ensure adequate cash flow
To Collect of accounts due
To ensure that there are adequate funds available to acquire the resources needed
To ensure that all Payment of bills and expenses are made on time
To ensure that all Payment of wages and salaries are made on time
To establish and control profitability levels.
To prepare financial documents and final accounts
To provision appropriate financial information for decision makers
To support to EMMC in securing financial balance which will include the determination and establishment of cash releasing efficiency savings required to ensure financial balance and to advise EMMC on strategic and operational matters relating to finance.
To oversee the receipt of allocations and to maintain records for resource planning assumptions and commitments to underpin the strategic financial plan for the EMMC
To contribute to the operational and business planning activities of the EMMC
To provide advice and training on corporate governance issues.
To ensure that appropriate controls and systems are in place for the management, monitoring and effective reporting of all aspects balance sheet, cash, and budgetary amounts, and to advise and bring to the attention of the Board any areas of concern
To co-ordinate the monitoring of financial performance against plan and to advise the Board of major variances and year-end projections.
To provide overall assurance to the Board that EMMC will meet their key statutory financial targets, remaining within the allocated cash limit and capital resource limit and other non-statutory targets such as the better payment practice code or advise of remedial action as soon as may be required
To make advice for Investment Decisions
To make advice for Financing Decisions
To make advice for Asset Management Decisions
To make advice for Capital Budgeting
To Classify Investment Project Proposal
To develop and review financial systems, procedures and controls to ensure that the budgetary, accounting, income and expenditure systems operate efficiently to the highest professional standards
To ensure that the standing orders and standing financial instructions are correct in order to maintain the trust’s financial controls and to ensure compliance across the EMMC as well as conducting induction sessions and relevant financial training within the organization
To play a key role in the interpretation of national policies and practices in assessing the financial risks and impact of the implementation of these policies
To ensure that the annual statutory accounts are prepared and completed in line with the national timetable and to the highest standard
To oversee the work of the EMMCs’ internal auditors

Vian Steel Complex