Finance Department’s role is to mobilize, conserve and prudently apply financial resources to enable the Company consistently discharge its mandate. The Department ensures effective planning and control of financial resources. This involves:
i) Controlling costs while supporting capacity optimisation
ii) Strengthening revenue generation capacity of other revenue streams
iii) Securing and utilising credit facilities
iv) Long-term debt restructuring
The Department discharges the following functions:
i) Coordinating the preparation of annual budget and cost management; Maintaining fixed assets register; Preparing management accounts and annual financial statements.
ii) Collecting revenues and maintaining debtor’s ledger; Maintaining creditors ledger and processing supplier payments; Maintaining payroll and originating statutory payments; Processing cheques and handling cash.
iii) Maintaining cane creditors ledger and processing cane payments; Maintaining out-growers’ services and loans ledgers; Accounting for nucleus estate farm operations and valuing growing cane; Maintaining Nucleus Estate creditors’ ledger and processing Nucleus Estate contractors’ payments.
iv) Availing business systems to authorised users, maintaining servers, databases and backups; providing user support and ensuring LAN, Internet and telephone connectivity; supporting email and intranet users.
v) Receiving finished product from Factory for safe storage; Issuing and invoicing goods sold/released; Reporting on stock movement and balance held; Undertaking monthly physical stock count and reconciliation.