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Customer and Support Services Scrutiny Committee 23 rd June, 2008

Customer and Support Services Scrutiny Committee 23 rd June, 2008. Finance Division. Performance Report 2007/08. Content. About the Division Key Performance Benchmarking Data Achievements External Recognition Opportunities and Threats. About the Finance Division (1). Nos of Gross

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Customer and Support Services Scrutiny Committee 23 rd June, 2008

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  1. Customer and Support Services Scrutiny Committee23rd June, 2008

  2. Finance Division Performance Report 2007/08

  3. Content • About the Division • Key Performance Benchmarking Data • Achievements • External Recognition • Opportunities and Threats

  4. About the Finance Division (1) Nos of Gross StaffBudget (FTEs) (£000s) Management 5 424 Accountancy 107 3,894 Audit & Risk Management 43 1,949 Creditors 9 341 Debtors 11 353 E-Trading 6 273 Payroll 28 851 SAP 13 1,370 Total 222 9,455

  5. About the Finance Division (2) Some Key Statistics Accountancy £670m revenue & £115m capital exp managed Internal Audit 258 audits, 16 external computer audit clients Creditors 129,000 invoices paid, value £510m Debtors 44,000 invoices raised, value £125m E-Trading 31,000 orders processed, value £97m Payroll 135,000 payslips processed, total pay £207m

  6. Key Performance Benchmarking Data (1)- BVPIs/LPIs BVPIs 8 – invoices paid within 30 days target 98% actual 99.2% LPIs 25 – sundry debt outstanding over 60 days target - 10% on previous year actual – headline + 4.3% - without land charges - 11.3%

  7. Key Performance Benchmarking Data (2)- Accountancy • CIPFA Benchmarking 2007 (2006/07 performance) - Cost per £000 gross revenue exp £4.56 = 17% below average - Qualified staff = 17% vs 30% average - CCAB trainees = 2% vs 9% average - AAT trainees = 13% vs 6% average - CPA use of resources score = 3 vs 2.9 average

  8. Key Performance Benchmarking Data (2)- Accountancy

  9. Key Performance Benchmarking Data (3)- Creditors • CIPFA Benchmarking 2007 (2006/07 performance) - Cost per invoice £1.69 = 21% below average - Invoices paid on time = 99% vs 91% average - Best practice score 94% vs 85% average • BVPI 8 Benchmarking 2006/07 • Best performing metropolitan district • 8th best performing in the country • GM Benchmarking 2007/08 - Best performing authority

  10. Key Performance Benchmarking Data (3)- Creditors

  11. Key Performance Benchmarking Data (4)- Debtors • CIPFA Benchmarking 2008(2007/08 performance) - Cost per invoice £5.67 = 28% below average • % debts paid = 99.7% vs 91% average • Average debtor days = 46 days vs 70 days average • Write-offs = 0.1% vs 0.4% average • Best practice score 90% vs 74% average • GM Benchmarking 2007/08 - Best performing authority

  12. Key Performance Benchmarking Data (4)- Debtors

  13. Key Performance Benchmarking Data (5)- Audit and Risk Management • CIPFA Benchmarking 2007 (2006/07 performance) - cost per £m gross turnover £695 = 41% below average - annual chargeable days per auditor 164 days = 6% below avge - audit days per £m gross turnover = 3.54 vs 4.32 average

  14. Key Performance Benchmarking Data (6)- Payroll • CIPFA Benchmarking 2007 (2006/07 performance) - net cost per payslip - £4.43 vs £4.04 average - cost per employee - £49.70 vs £54.52 average - pre-input verification = 15% vs 7% average - days from cut-off to pay day = 6 days vs 9 days average - payment errors = 0.08% vs 0.21% average - staff turnover = 10% vs 5.7% average - staff sickness = 14.5 days vs 8.8% average - best practice score = 94% vs 84% average

  15. Achievements (1)- Service Improvements • Cross-Divisional - Achieved IIP accreditation - Reduced sickness absence from 4.3% to 2.8% (target 3%) - delivered efficiency savings of £616k • Accountancy - Completion of 2006/07 accounts by 30th June - Lowest negotiated tax settlement on equal pay claims in GM - “Finance for Members” intranet site launched

  16. Achievements (2)- Service Improvements • Audit & Risk Management - Property insurance premium savings of £350k - LPSA2 target for energy reduction achieved - £100k reward grant - £250k income from audits for other authorities • Creditors - reduced paper based invoices by 20% in 12 months and 40% over 2 years • Debtors - new processes for allotment rents, landlord licensing and direct debit payments by schools

  17. Achievements (3)- Service Improvements • E-Trading - 635 purchase cards in use, 260 implemented during 2007/08 • Payroll - implemented new pension scheme changes • SAP - new financial systems for Salix, HCP, URC - implemented major software upgrade - implemented new modules – manager self-service, e-recruitment, better reporting facilities, information exchange, HR facilities (JE, multiple employment, work scheduling)

  18. Achievements (4)- Getting the Fundamentals Right • Accountancy - financial advice - high profile, eg BSF, mediacity, housing stock options, waste PFI, LIFT, equal pay - routine, eg outstationed day-to-day advice, 500+ school visits - final accounts – timely & accurate closure - budget monitoring & preparation – regular reporting - bank/cash reconciliations – monthly, 100% within 3 weeks - VAT claims – monthly, 100% within 2 weeks - grant claims/statistical returns – within due dates

  19. Achievements (5)- Getting the Fundamentals Right • Audit & Risk Management - delivering the audit plan – Salford, GMPA, NPHL, Salix - risk management - energy efficiencies - processing insurance claims and renewing policies • Creditors - processing payments promptly & accurately - prompt online access to scanned invoices for directorates ref - maximising electronic payment methods (80%)

  20. Achievements (6)- Getting the Fundamentals Right • Debtors - issuing 100% of invoices within 2 days of request - pursuing late payers • E-Trading - processing orders promptly - facilitating greater automation of financial processes • Payroll - accurate pay to 12,000 staff every month - prompt/accurate accounting for deductions/statutory returns/docs - telephone help desk to troubleshoot employee problems/queries • SAP - system support, maintenance and availability

  21. External Recognition • District Audit - CPA use of resources – strengthened 3 star rating - triennial review of Internal Audit – meets CIPFA standards ; effective contribution to control environment ; can rely on their managed audit work; no recommendations needed - annual audit memo – financial statements comply with good practice and good understanding of technical accounting issues • HM Revenues & Customs - VAT low risk rating – no requirement for inspection 2008 • External awards – Inst of Credit Mgt – best debt performance improvement award - Credit Today – best payment culture

  22. Opportunities Further efficiencies utilising SAP Widen external client base AGMA shared/collaborative services agenda Threats Housing stock transfer Loss of external clients Retention of specialist staff, eg SAP, computer auditors Opportunities and Threats

  23. Any Questions ?

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