Moray College Finance Department

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Moray College UHI Finance Department

The Moray College UHI Finance Department plays a crucial role in the smooth and efficient operation of the institution. It is responsible for managing all aspects of the college’s financial resources, ensuring compliance with regulations, and providing timely and accurate financial information to stakeholders.

The department’s core functions include:

Financial Planning and Budgeting: Developing and monitoring the college’s annual budget, aligning financial resources with strategic goals, and forecasting future financial needs. This involves collaboration with various departments to understand their budgetary requirements and ensure responsible resource allocation.
Financial Accounting and Reporting: Maintaining accurate financial records, preparing financial statements in accordance with relevant accounting standards, and producing timely reports for management, the board of governors, and external auditors. This ensures transparency and accountability in the use of public funds.
Treasury Management: Managing the college’s cash flow, investments, and debt, aiming to maximize returns and minimize financial risks. This involves optimizing banking relationships and ensuring sufficient liquidity to meet operational needs.
Payroll and Employee Expenses: Processing payroll accurately and on time, managing employee benefits and expenses, and complying with relevant tax regulations. This ensures that employees are compensated fairly and in accordance with employment law.
Procurement and Accounts Payable: Managing the procurement process, ensuring value for money in all purchases, and processing payments to suppliers and contractors promptly. This includes adhering to procurement policies and guidelines to ensure fair and transparent practices.
Student Finance: Administering student fees, bursaries, and other financial support schemes, providing advice and guidance to students on financial matters, and ensuring compliance with relevant regulations. This helps to ensure that students have access to the financial resources they need to succeed in their studies.
Internal Audit and Compliance: Conducting internal audits to assess the effectiveness of financial controls, identifying areas for improvement, and ensuring compliance with relevant laws, regulations, and policies. This helps to safeguard the college’s assets and maintain its reputation.

The department is staffed by a team of qualified and experienced professionals, including accountants, finance officers, and administrative staff. They work closely with other departments across the college to provide financial advice and support, ensuring that financial considerations are integrated into decision-making processes.

The Moray College UHI Finance Department is committed to providing a high-quality service to all its stakeholders, including students, staff, suppliers, and the wider community. They strive for continuous improvement in their processes and systems, ensuring that the college’s financial resources are managed effectively and efficiently.