The finance department is responsible for reporting the financial performance of the organisation for a wide range of services.
The functions that the department undertakes include the following:
assistance in setting financial budgets for the financial year (April to March),
providing monthly budget statements that show financial variances against budgets,
working with budget holders to ensure that they achieve financial balance each year,
providing financial information to support business cases such as the development of a new clinical service or the procurement of a costly piece of equipment,
report the financial performance of the organisation to the board of directors and externally to NHS London,
production of annual accounts and other statutory financial returns,
cash management, and
The department is split into the following teams:
The main function of the team is to provide financial advice and support to strategic and primary care commissioners.
The commissioning finance team is responsible for reporting on spend on services from GPs, acute and mental health trusts, Tower Hamlets Community Health Services, and the voluntary sector.
The main function of the team is to provide financial advice and support to Tower Hamlets Community Health Services.
The provider arm covers the clinical services that Tower Hamlets provides within the community eg health visiting, occupational therapy, dentistry and district nursing. We also deliver clinical services at Mile End Hospital.
The main function of the team is to produce the annual accounts and other statutory returns.
In addition, the financial control section manages transactions and provides information on balance sheet items. This section also acts as the lead for managing the interface with the NHS Shared Business Services payment agency based in Wakefield.
For further information, please contact us.