The department headed by a Financial Controller directs the financial management functions ensuring effective planning and utilisation of financial resources in an accurate and timely manner.
- Develops and reviews the accounting system, procedures and internal controls
- Prepares monthly and annual financial statements
- Manages the OUR’s investment portfolio
- Prepares analytic reports to assist the decision-making processes of the Office
- Prepares and monitors the annual Budget
- Determines annual regulatory fees chargeable to each utility sector
- Ensures compliance with statutory requirements and in particular the provisions of the Public Bodies Management and Accountability Act (PBMA), The Financial Administration and Audit (FAA) Act, Income Tax Act and the Government Procurement guidelines
- Assists with negotiations for group health and general insurance
- Provides administrative support for the group pension plan.