Financial Management

Our financial management consulting division is led by a former Chief Financial Officer (CFO) whose past experience include getting a municipal entity in the city of Johannesburg to achieve an unqualified audit report for two successive years.

The following is a sample of typical challenges faced by many municipalities or similar entities:

  • No clean audit reports due in part to lack of robust financial processes and controls.
  • Billing systems are not properly and timely updated, which results in incorrect billing information.
  • Non-payment for services is not properly managed; follow ups are difficult due to inaccurate customer data.
  • Water and electricity losses cannot be measured reliably and it becomes difficult to manage.

Based on our experience, we offer the following services to address the foregoing:

  • Assistance in optimising current Revenue management and cash management processes.
  • Assistance in selecting appropriate Revenue and financial management tools or systems.
  • Compilation of Financial Statements in terms of Generally Recognised Accounting Practice (GRAP) requirements.
  • Improvement of existing financial policies and procedures.
  • Assistance in compilation of Business Plans to access the Municipality Infrastructure Grant (MIG).
  • Creation, enhancement and maintenance of Asset Registers in terms of GRAP 17.
  • Providing advisory services in managing Accounts Payables and Accounts Receivables.
  • Improving existing Financial Planning and Budgeting (see Hyperion on Applications sections).
  • Development or improvement of Supply Chain policies and processes.
  • Implementing automated billing systems in line with municipality requirements.

We also offer services related to the implementation of Municipal Standard Chart of Accounts (mSCOA).

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