Co. Clare VEC
Finance Department
The budget for County Clare VEC for 2007 is €28,000,000.
The Finance Section has responsibility for the proper expenditure of these monies and for the control of all Programmes.
Bank Reconciliation and monitoring of receipts/Income is also a function.
Monthly Expenditure Reports are provided to all Budget holders and to the Department of Education & Science.
The Payroll Section deals with the payment of salaries to approximately 700 employees made up of Teachers, both Permanent, contracted and part-time, Administrative staff, Caretaking & Cleaning staff. A variety of the payments are made monthly, fortnightly and weekly.
A centralised payment of the Creditors for all schools/centres is also operated within the Finance Section.
The Section is answerable to Department of Education & Science and annually there are several Audits carried out by:
(1) The Comptroller & Auditor General
(2) The Internal Audit Unit (i.e. VSSU)
(3) The Revenue Commissioners
(4) The E.U. Audit Unit
(5) F.A.S.
The work of this Section also involves working in close co-operation with the Audit Committee and the Finance Committee both of these committees are sub-committees of the main Committee.
The Annual Services Plan is prepared in the Finance Section and this document is effectively the annual estimates of expenditure for the year.
Annual Financial Statement is also prepared in the Finance Section and submitted to the Department of Education & Science and the Comptroller and Auditor General each year. All Financial transactions during the period under review are reflected and reported upon in this Financial Statement.
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