Financial Management in the PEI Government

Length:     3 Hours
Audience:     Directors and Managers

Managers have a legal obligation to manage public funds effectively and appropriately. This course will give managers an overview of the tools required to carry out this responsibility. It is designed to provide managers a better understanding of the Province’s financial structure and processes (financial reporting, policies and procedures, Oracle Financial Information System (FIS), etc). It provides an overview of the accounting cycle of the Government of Prince Edward Island and guidance to assist managers in carrying out their roles in the process.  Please note this is not a course on the process of budgeting.
Objectives:
• Learn about the accounting cycle from budgets to Public Accounts
• Learn about the structure and the role of the financial information system
• Learn about the Chart of Accounts and its role in ensuring reliable financial information
• Learn about the roles and responsibilities of a manager with regards to financial management
• Introduction to reporting and other resources available to financial managers

Applications in the workplace:
• Knowledge of reporting and inquiry tools available to analyze financial data and to identify inconsistencies or errors
• Increased budget and forecasting accuracy based on available financial data
• Increased ability to answer financial inquires
• Increased awareness of the role of managers in areas such as ensuring accuracy in the financial information system, detecting fraud, etc.

Facilitator(s): Judy Killam and Team