Finance

Finance Strategy

The objective of the Finance function is to support the Board in the achievement, within budget, of objectives set out in the Letter of Determination from the Department of Education and Skills (DES), the allocation letter from SOLAS and other sources.  Finance support includes decision making support, corporate control of public money, transaction processing, and statutory accountability.

Statutory Accountability

Strict accountability requirements apply to LOETB. These requirements include the preparation of annual accounts in a format prescribed by the Dept. of Education and Skills (DES) and the audit of these accounts by the Comptroller and Auditor General (C&AG). LOETB is also subject to audit by the Internal Audit Unit (IAU–ETB). Financial control systems are in place to ensure compliance with these requirements and to ensure the effective achievement of objectives. LOETB complies with its obligations under taxation laws and ensures that all tax liabilities are paid on or before the relevant due dates, as set out under Section 27 of the Code of Practice for the Governance of LOETB.

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