The role of the Southern African Development Community (SADC) Finance Unit is to oversee and provide financial administration services to the SADC Secretariat. It also facilitates management of financial risks. Regulations and procedures (which adhere to internationally accepted standards) outlined in the SADC Treaty provide the basis for the functions of the unit.
The SADC Finance Unit reports directly to the Deputy Executive Secretary Corporate Affairs
The overall objective of the Finance Unit is to deliver services in the area of finance that meet the requirements of the following two customers groups:
- Internal– SADC Secretariat management, staff and personnel; and
- External – Governing structures, providers of financial resources, suppliers of goods and services, and tax-payers.
The Finance Unit provides three main categories of critical operation information about the financial position of the organisation:
Needed on a day-to-day basis in order for the organisation to conduct its business, including the following:
- Salary payroll;
- Expense tracking;
- Budgetary management; and
- Asset inventory.
Financial Accounting Information
Used by the SADC Secretariat Management Team, Internal and External Auditors, institution structures like the SADC Council, banks, creditors, governments, donors, etc… to inform decision-making regarding the operations of the organisation, including the following.
- Disbursement of Member State contributions;
- Credit rating of the institution; and
- Financial and Operational Management.
Managerial Accounting Information
for the SADC Secretariat Management Team to make the best decisions for the institution they need to have specific information prepared. This information is used for the following three main functions:
- Implementation; and
- Fiscal control.
Management accounting information is used to set budgets, analyse different options on a cost-basis, modify plans as the need arises, and control and monitor work being done.