Government > Corporate Services

Corporate Services

Financial Management & Planning

The Region manages its financial affairs through the application of policies and procedures designed to meet relevant Provincial standards and accounting principles. The integrity of financial management and control is maintained through an independent auditing process undertaken each year, as well as through scheduled periodic reporting of its financial activities to Regional Council and the Province. The process begins with the establishment of current annual expenditures and setting of a multi-year capital forecast. This budget process is initiated in July of each year with a Regional Council guideline-setting exercise. The process culminates with an approved budget and a Regional levy against the area municipalities, in the form of Regional tax rates on the various classes of properties.

Administration

The Treasurer/Director Financial Management and Planning is responsible for overseeing five Managers and their staff, a total of thirty-eight employees. The Administrative Assistant to the Treasurer/Director provides administrative assistance, manages and co-ordinates the daily activities of the Treasurer/Director while providing clerical support to Managers within the Financial Management & Planning Division.

Accounting and Reporting Services

The Accounting and Reporting Services Team is responsible for the following functions:

  • Accounting

    • Provide Accounting and Reporting Services for all departments, boards and agencies regarding ongoing financial transaction processing, variance analysis, support, and reporting to ensure effective monitoring and reporting of actual spending vs. budget for all departments, Finance Committee and Council.
    • Perform services:
      • Accounts Receivable (billings, cash receipts, and collections)
      • Accounts Payable
      • Bank reconciliation
      • Trust accounting
      • Revenue accounting
    • Develop, maintain and enforce accounting policies, practices, procedures, systems and internal controls for all Regional Departments, boards and agencies.
    • Engage in various other operations
      • Completion of the Region's Commodity Tax (GST and PST)
      • Completion of the subsidy claims for Homes for the Aged and Community Services
      • Account reconciliations
      • Identifying tax savings gaps
      • Accounting for investments |

  • Year End and Audit
    • Organize and carry-out the annual year end audit and financial statement preparation process for the corporation. This includes preparation of audited financial statements for
      • Consolidated Regional Municipality
      • Niagara Regional Housing
      • Provincial Offences Court Operations
      • Regional Municipality of Niagara Police Services
      • Multiple Public Health Programs
      • Seniors Services Division
      • Recycling Operations
      • Trust Funds as well as various Provincial grant and subsidy claims in addition to information used in publications such as annual financial highlights and the annual financial report.
    • Participate in the production of the Region's annual report which its information is of significant importance to a variety of groups including Council, internal management of the Region, Provincial ministries, investors, the financial community and ratepayers.
  • Financial Systems
      • Maintain the Region's computerized financial information system for both its short and long range financial planning needs for Accounting and Reporting Services and continually review the feasibility for providing management information to the corporation's decision makers in a more effective, efficient and timely manner.
      • Direct maintenance and administration of this Financial System. This includes providing adequate reporting, training, system security, technical support for managers and staff and resolving problems with implementation and on going concerns with the Financials' General Ledger, sub-ledgers, and other modules.
      • Manage information provided by sources system interfaces. These interface records feed general ledger, billings, receivables, accounts payable, and cash management modules.
  • Financial Integrated Services

    • Current & Capital BudgetsServices Provided by Current & Capital Budgets
    • Completion of the Regional Municipality of Niagara's Current & Capital Budgets within the legislated date
    • Prepare and deliver budget guidelines and timetable to Regional Departments and Budget Review Committee
    • Financial reporting, internal and external
    • Provide training of core modules within the GEAC financial system
        • structures
        • chart of accounts
        • allocations
        • budget
        • projects
        • fixed assets
    • Manage the recording, reporting and amortizing of Niagara Region's Tangible Capital Assets
    • Maintain information system for capital projects
    • Develop long term Capital financing
    • Determine how the Regional Municipality of Niagara will finance projects
    • Track and analyze capital projects
    • Issue tile drainage debentures
    • Record, monitor and analyze long term debt
    • Maintain trial balance for capital projects
    • Variance reporting for Capital projects
    • Manage accounting for capital projects
    Financial Operations & SupportServices Provided by Financial Operations & Support
    • Provide training and support of core modules within the SmartStream financial system
        • Fundamentals
        • Reporting
        • Accounts Payable/Accounting, etc.
    • SmartStream financial system integration
    Purchasing Services Provided by Purchasing
    • Operate Regional Purchasing Card and Fuel Card Program
    • Provide various purchasing reports to Managers
    • Issue Regional Tenders, Quotations, Request for Pre-Qualifications, and Request for Proposals in accordance with the Purchasing By-law. (add link to the Purchasing By-law from Region's website)
    • Advertise bid opportunities on the Region's website here, as well as on the OPBA website in accordance with the Purchasing By-law.
    • Issue all Regional Purchase Orders and Contracts
    • Provide training and guidance to staff to ensure the objectivity and integrity of the Purchasing process
    • Provide guidelines to Managers on the structure, type of format and general content of procurement documentation
    • Represent the Regional Municipality of Niagara on the Niagara Public Purchasing Committee to maximize buying leverage
    • Co-ordinate and run Regional Auctions for the sale of Regional surplus assets (add link to the On-Line Auction site from the Region's website)
    • Maintain insurance and WSIB records for contractors as part of Risk Management requirements
    • Maintain timely and relevant policies and procedures to insure effective services
    • Provide budget estimates to Managers
    View our guide: How to Sell Your Goods & Services to the Niagara Region
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