Lets recall those involved with financial management
Takes the Credit
Do the Work
Bob Mac - runs our Sage ledger system and creditor payments (quite a job)
Dave the "Signal Man" Newman does exhausting work seeking to match Purchase Orders with invoices received
Richard Warner analysis of credit card income which is now major
The time from middle December to the end of January and then February are the FDs busiest of the year.
The first period is about assembling the Budget for the coming year and reporting to Board for approval. Data comes in from all sides and as well as the maths and some fine judgement, theres a lot of discussion/negotiation to ensure we allocate our ever limited resouces to the best effect.
February is even harder going since with the financial year ending on 31st January Bob and I work closely to finalise the accounts for the year and put them in a form for the auditor. That's nearly complete for 2012 and Bob should take the books to Ormerod's in Droitwich Spa next week. I have a meeting with Jane Grimshaw (our actual auditor) there next Friday and their work begins, This will inevitably involve a series of questions and answers. Meantime Bob will be getting on with the new 2013 ledger and catching up with payments.
So what else?
A set of Management Accounts for the previous month showing income and expenditure for the month against Budget and a cumulative for the year to date is prepared for each Board meeting.
There are numerous enquiries, bids for additional funds, invoices to send (just done the Classic Hospitality one for the Gold Cup meeting), I look at every invoice that is paid etc etc
In conjunction with the Commercial Director (he monitors bums on seats) I constantly check how our income is going. February was good - ticket sales were £4,333 against a Budget of £2,000. The Shops had a good month as well.
There's more but that should give you a feel.