Welcome

Financial Awareness Training Taking Fear Out of Finance Financial Year 2012-13

Bandhu Das

Introduction

01 “Having exhausted all other possibilities, Governments will need to improve productivity”

•  Headline news! (Bulletin 119)

A financial management review from the Chartered Institute of Public Finance and

Accountancy (CIPFA) found the Agency to be one of the best organisations that it has

reviewed.

•  Why are we all here?

•  Your Expectations from the Session…

Introduction

Objectives •  Finance structure and our role in supporting

NAS

•  Understanding of the Wider Public Sector Finance

•  Our Budgets: Delegation, Responsibility,

Accountability and Reporting •  Good Financial Management and Your Role •  Day to day Finance – Admin all in One

Finance Structure

02

Finance Structure Paul McGuire

Executive Director Finance

Raza Raheem Director Financial Control South

Jim Minogue Director Accounting Services

and Contract Control

Chris Griffin Director Provider Finance

Stephen Packham Director Financial Control North

Our Role in Supporting NAS •  Strategic

•  Financial Planning, Reporting and Forecasting

•  Accounting Services and Contract Control

•  Operational, Training and Support

•  Provider Finance

Public Finance

03

Public Finance •  Journey of a Pound & where do we fit into the

big picture

•  Facts and Figures – relevance to the Agency and NAS

•  Role of Public Accounts Committee and National Audit Office

•  Whole of Government: Financial Reporting Requirements

UK Plc: Budget 12-13

Total Budget break down: 2011-12 (£'000's) Agency 3,227,479 NAS 1,453,258 Total 4,680,737 NAS Budget break down: 2011-12 16-18 Apps 768,000 19+ Apps 644,000 Non Participation 16,901 Others 10,576 Admin 13,781 Total 1,453,258

Budgets

04

Budgets What is budget? Three fundamental principles of budget management:

•  Compliance - are we being compliant with rules, policies and procedures?

•  Control – are we reviewing and monitoring actual expenditure against planned delivery?

•  Value for money – do operational decisions reflect economic value? How do you achieve above?

How does Finance support you?

Budgets Have you seen a copy of our latest budget book?

Budgets Adult Skills - Participation

e.g. 16-18, 19+ Apprenticeships, Outcome Payment Pilots

Allocations, Quarterly Reviews and Payments

Non Participation

e.g. Business Development Fund

Higher Apprenticeships Fund

Finance systems – CCM – what does it provide us with?

CODA – what does CODA do?

Budgets Administration

Pay Basic Pay, NI, Pension

Non-Pay Travel and subsistence. Staff related: Mobile Phones, Room Hire, Catering, Staff Welfare

Recharges Facilities: Stationery, Shredding, Archiving, Tea & Coffee facilities

Learning and Development

Financial Management

05

Financial Management • Forecasting – who does it? Why and how often do

we do it? • Budget Profiling – who does it? Why and how often

do we do it? • Accrual Accounting – Not when cash is paid but

when delivery takes place – why is it important? • Budget holder Reports

–  Monthly Management Accounts – Programme & Admin –  Staff Expenses Reports –  Mobile Expenses Reports –  National Contracts MI

Budget Holder Reports

Budget Holder Reports

Budget Holder Reports Mobile Expenses Report – same as Staff Expenses Report

National Contract Report:

Rail bookings – first class travel, anytime travel Car hire – car refuelling Hotel & conference bookings - coding Stationery bookings – items outside core list

Admin all in One •  Financial Control South – Intranet

•  Finance Manual (Bookers, GPC holders, Codes)

•  National Contracts (Travel, Hotels, Stationery)

•  Total Facilities Management (TFM) Contract

•  Paying for Goods and Services (by GPC and Invoice)

•  Business Cards

•  Learning and Development

•  Free Meeting Facilities

•  Coda Expenses Hints and Tips, TS2000

•  Professional Subscriptions

•  Eye Tests

•  Mobile Phone Reimbursement

•  Excess Travel

Summary •  Have you obtained a basic understanding of the Wider

Public Sector Finance and key players in the sector? •  Are you familiar with the NAS and Agency’s 12-13

budget? •  Do you understand the basics of Good Financial

Management and the role you can play? •  Are you familiar with ‘Admin-all-in-one’?

•  Do you know who your Finance contacts are and where you can go for help and assistance?

Thank you

and now

time for a quick Olympic Quiz!

-How many medals have Team GB won? -How many athletes were in Team GB?

(please write answers at the back of your feedback form for a quick prize)