Finance Department

Feb 2, 2021

The primary responsibility of the Finance department is to maintain effective, efficient and accountable financial operations while providing support and advice to other departments for projected growth initiatives in the areas of finance and information technology. The primary role is to strengthen the effectiveness, efficiency and accountability of our overall operations. The operating budget outlines the money needed for M’Chigeeng to perform routine operations and provide services and programming.

The Finance Department has the following responsibilities:

The day to day financial operations of M’Chigeeng First Nation;
Ensure accountability with the financial procedures and personnel policy;
Monitoring employees on payroll, following payroll legislation, Band and teacher’s pension, group insurance, WSIB, CRA;
Review and process adjusting entries for month end/quarterly/annual financial statements;
Maintain financial reports.

Objectives

Ensure policies and procedures are adhered to and communicated with all staff;
Maintaining Central Mailing System;
Financial reports – ensure submission of reports are complete before the due dates;
To ensure that the appropriate consideration is given to the most effective use of the funds available to carry out programming and administration;
To ensure that all transactions are completely and accurately recorded in the accounting system;
To ensure that the staff are carrying out their responsibilities and following policies and procedures;
Finance staff recruitment and training;
Information Technology – ensure that the confidentiality and integrity of software and data are maintained and protected;
Operating budget – once the budgets are established the primary functions are to monitor and control the budgets throughout the year;
Accounts Receivable, cash and banking;
Inventories, supplies and purchasing – Tangible Capital Assets;
Accounts Payable;
Payroll

Source: https://www.mchigeeng.ca/finance--administration.html

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Finance Department