Rotherham Council Finance Department

Rotherham Metropolitan Borough Council's Finance Department is responsible for managing the council's financial resources, ensuring financial stability, and promoting effective and efficient use of public funds. It plays a crucial role in supporting the delivery of services to the residents of Rotherham.

The department's core functions include:

• Budgeting and Financial Planning: The Finance Department leads the development and implementation of the council's annual budget. This involves forecasting income, estimating expenditure, and allocating resources across different service areas, aligning with the council's priorities and strategic objectives. They also develop medium-term financial plans to address future financial challenges and opportunities.
• Financial Accounting and Reporting: The department maintains accurate financial records and prepares statutory financial statements in accordance with accounting standards and legal requirements. This ensures transparency and accountability in the use of public funds. They also produce regular management accounts to provide performance data to service departments for decision making.
• Treasury Management: Rotherham Council's treasury function, managed by the Finance Department, is responsible for managing the council's cash flow, investments, and borrowing. They aim to optimize returns on investments while mitigating financial risks. They also ensure compliance with treasury management regulations and best practices.
• Procurement and Contract Management: The Finance Department oversees the council's procurement processes, ensuring fair competition, value for money, and compliance with procurement regulations. They provide guidance and support to service departments in managing contracts effectively, maximizing benefits, and minimizing risks.
• Internal Audit: The Internal Audit team, within the Finance Department, provides independent assurance on the effectiveness of the council's internal controls, risk management, and governance processes. They conduct audits across various service areas to identify areas for improvement and ensure compliance with policies and procedures.
• Revenues and Benefits: This section of the Finance Department manages the collection of council tax, business rates, and other revenues. They also administer housing benefits and council tax support to eligible residents. They aim to maximize revenue collection and ensure accurate and timely processing of benefits claims.

In recent years, Rotherham Council, like many local authorities, has faced significant financial challenges due to reduced government funding, increasing demand for services, and rising cost pressures. The Finance Department has been instrumental in identifying and implementing cost savings, generating income, and improving efficiency to address these challenges. This involves exploring innovative approaches to service delivery, transforming processes, and collaborating with partners to maximize resources.

The Finance Department works closely with other departments within the council, elected members, and external stakeholders to ensure sound financial management and support the delivery of high-quality services to the community. They are committed to providing professional financial advice and guidance, promoting financial awareness, and ensuring the effective use of public resources to improve the lives of Rotherham residents.