The mission of the Finance Division of the BSJ is to be steward for the public in the management of funds utilized by the BOS and to serve other divisions in the BSJ, customers, suppliers, Ministry of Industry Commerce and Technology and the Ministry of Finance by collecting revenue, making payments, managing funds flow to meet all obligations in accordance with public policy and best commercial practice

FUNCTIONS

Budget Preparation and Budgetary Control (Revenue and Expenditure)
Funds Management (Investments)
Cash Flow Management
Accounting and Treasury
Procurement of Goods and Services (Insurance Portfolio/Risk Analysis)
Warehousing (including Fixed Asset Control)

OBJECTIVES

	To quantify and identify sources of funds necessary to finance BOS operations for the ensuing years by October of each year
	To dispatch all invoices to customers within 5 days of completion of jobs
	To collect 90% revenue billed within approved credit period
	TO provide required financial information to divisions within 5 working days of the end of the month effective 31st May
	To meet all standard times set for service delivery
	TO establish and maintain financial systems and procedures that ensure accountability of employees for the use of public funds effective May 31st 2001

REPORTING

Monthly report to Executive Director:

	Monthly accounts - actual, budget, variance, explanation of variances
	Accounts Receivable aging schedule
	Cash Flow Statement
	Outstanding Debts and Commitments
	Divisional services, standard times, actual times, variances
	Financial systems, procedures - deviation, explanation, corrective action taken

Monthly report to Standards Council

	Monthly accounts - actual, budget, variance, explanation of variances
	Cash Flow Statement.
	Accounts Receivable aging schedule.
	Outstanding Debts and Commitments

ORGANIZATIONAL STRUCTURE