Grants (analysis and reporting)
Perform financial reviews for all grants > R1m
Supervise the Grants Financial Analyst (preparation of grants < R1m)
Suggest ways to enhance the grantee due diligence and review process.
Provide support and assistance to Innovation Managers during their funding motivations and beneficiary reporting process.
Provide Programmes team with financial information to help them in their understanding of the financial requirements relative to their programmes (legislation).
Update the DGMT Grants Finance Handbook. Review, add to and enhance the Grants Finance Handbook.
Review and process the Cash Book for the Grants Bank Account as prepared by the Financial Accountant.
Incubated Projects
Provide financial support and guidance to the project leaders.
Prepare monthly financial reports (expenditure listings) for project leaders.
Meet with project leaders on a monthly basis to ensure that costs have been accurately allocated to their projects/grants.
Joint Projects
Treasury:
Act as second releaser on all joint project payments in excess of R100 000;
Maintain the joint project bank accounts (with the project accountants), including the processing and approval of profile changes.
Withdrawals and Reimbursements:
Oversee the preparation of withdrawal applications (third party donors), ensuring that they are completed accurately, timeously and in line with the relevant agreements
Ensure that the DGMT is reimbursed accurately and timeously for all costs incurred on behalf of projects
Accounting:
Define accounting policies and journal structures. Oversee compliance
Prepare accounts for Joint Venture’s if required (including capturing information in Sage Evolution). Currently limited to the Activate! project.
Statutory:
Review and keep records of contracts with Joint Funders.
Ensure that copies of all significant agreements are maintained centrally and accessible by the DGMT executive team.
Governance:
Constitute and chair Finance Committees for these projects
Report on the systems, controls and governance of these projects – add value to these areas when opportunity arises.
Budgets:
– Analysis of Joint Venture Budgets using the “Value for Money” concepts and assist the Project Manager in achieving effective cost management.
New Projects:
Setup structures required for any new ventures.
Transition to Separate Entities:
Manage the transition of joint projects to separate legal entities as required.
Coaching and Staff Development:
Train joint project staff (especially finance staff and Executive Directors) on DGMT financial and accounting policies and monitor compliance.
Financial Leadership:
Act as the first point of contact for all financial related queries from Joint Project staff
Monitoring and Reporting:
Ensure that all joint project accounts are fully reconciled on a monthly basis and that there are no reconciling differences
Audit/review:
Oversee annual and ad hoc review or audit procedures
Flagship Projects
Serve on the Finance Committee of flagship projects (currently limited to SmartStart)
Provide support and guidance to the financial and/or organisational leadership when requested.
Special projects
Work with the Programmes team to ensure that projects are appropriately structured from a governance, legal, tax and accounting perspective
Act as the primary finance contact for special projects
Define accounting policies and journal structure. Oversee compliance.
Pass journal entries.
Advise the Programmes team on the correct form of contracting
Maintain all legal records – signed contracts etc.
Enterprise Risk Management
Oversee the internal control environment for the following areas/business processes:
Grants
Joint projects
Incubated projects
Flagship projects
Special projects
Including, but not limited to:
Updating and maintaining the risk register and internal control policy document
Ensuring compliance with controls
Oversee internal audit reviews of these areas.
Grant Management System (“Fluxx”)
Develop a good working knowledge of the Fluxx system
Suggest enhancements to the finance related aspects of the process flow
Oversee development work related to the above
Seek opportunities for integration between the Fluxx system and the accounting system
Finance, Risk and Audit Committee Meetings
Prepare the following schedules/reports:
Reconciliation between the General Ledger and the Master Grants Schedule (as prepared by the Grants Manager);
Prepare the six month cash flow forecast;
Prepare and report on the outstanding grants age analysis and future cash flow report quarterly;
Prepare the joint project recoveries and distributions summary and investigate significant variances against budget;
Ensure all joint project accounts are reconciled timeously and there are no reconciling differences.
Prepare and present the Joint and Large Projects report.
Board/Programmes Committee Meetings
Prepare the following schedules /reports for inclusion in the Board/Programmes Committee Pack:
Prepare the Joint Projects finance dashboard;
Distribution Reconciliation and Graphs; and
Prepare grants schedule for approval.
Legal
Maintain a register and copies of all legal agreements relating to DGMT’s programmatic activities, both physical and electronic.
Payroll/HR
For the Projects Payroll (approximately 100 staff, outsourced payroll provider):
Prepare, maintain and deliver the payroll for review on a monthly basis;
Process salary recovery journals (from projects);
Provide project accountants with salary allocations;
Manage and maintain employee files and payroll records;
Prepare budgets and forecasts as required;
Analyse budget versus actual payroll costs on a monthly basis;
Capture information in the format required for Employment Equity reporting to the Department of Labour.
Annual Financial Statements
Prepare the joint project disclosure and distribution notes in the annual financial statements
Tax
Monitor tax risk relating to joint projects and grants.
Other
Prepare Yearly NPO Submission to the NPO Directorate.
Stay abreast of the technical, social, economic, and regulatory issues relating to DGMT.
Respond to external funders request for information/due diligence relating to the DGMT.
Assist in the identification, development and implementation of ad hoc projects as required.