Finance and trade is divided into two departments which include: Finance and, Trade and Market Operation. The activities expected from a finance department cover a wide range from financial management in providing information to assisting management in making strategic decisions. Finance department is responsible for all the day to day transactional accounting for the council. This includes the tracking of all transactions and the management of the government reporting which result to preparing of the financial statements with an external auditor engaged for assurance purposes. The finance department is also responsible for management of the council’s cash flow and ensuring there are enough funds available to meet the day to day payments. Also, the finance department will work with planning department to prepare the organization’s budgets and forecasts, and to report back on the progress against these throughout the year. This information can be used to plan staffing levels and asset purchases.
The council is actively implementing the National Trade Policy, the Sustainable Industrial Policy and Small and medium Enterprises Development Policies. In recognizing the contribution of medium and small industry to the district economy through various property taxes, service levy, license issuing and billboards.
Budgeting and accounting are carried out by using various systems including PLANREP and EPICOR though there are some challenges in network bases and production of various reports from those systems. In carrying out its mandate, the department has a number of functions that are core to its activities and are geared towards ensuring the fulfillment of the council’s mission and the achievement of its vision. The core
functions include the following:
Advising the council on all financial matters
Preparing annual budget of income and expenditure in collaboration with planning officer and other heads of departments
Maintaining a sound accounting system and safekeeping of all supporting records
Preparing regular reports to council on the progress of actual expenditure and income compared to the budget, and making recommendations on balancing levels of income and expenditures.
Preparing Councilor’s reports and financial statements.
Ensuring an effective system of internal control is operated including the writing and subsequent revision of detailed financial procedures.
Presenting to Finance Committee financial procedures for their approval, and their distribution to heads of departments.
Custody of Council assets and all aspects of financial management for the council, including appropriate arrangement for the staffing and management of the finance management.
Coordination, implementation and review of policies and strategies for the trade, marketing development and promotion of Small and Medium Enterprises (SMEs).
Monitoring and evaluation of performance of trade, marketing and SME sectors, industry and trade support institutions;
Collection, analysis and dissemination of trade, marketing and SME information and creation of industry, trade, marketing and SME databases;
Promotion of domestic and foreign investment, promotion of business support services and value addition and post-harvest management for enhancing public private competitiveness in the industry, trade, marketing and SME sectors;
Development and promotion of domestic and international trade and
Facilitate the establishment of manufacturing enterprises in rural areas so as to add value to agro products.
The staffing situation differs substantially with respect to qualifications between the employees. Total numbers of accountants are 17 among which 11 staff are accountants and 6 staff are assistant accountants.
