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The finance department stands at the centre of the operations of Mount Carmel Hospital. It provides a service to each section within the Hospital and the community and liaises with the external bodies for the day to day cash flow management. The department is headed by the Financial Controller whose principal duties are the monitoring of the overall financial transactions; ensuring the existence and adoption of proper internal controls over each and every activity; enhancing system procedures and processes, internal controls and dealing with internal and external parties to effect bank payments to suppliers and employees. The Financial Controller prepares monthly management accounts and cash flow forecasts that are presented to the management for decision making. These are compiled together with the yearly budgets that are presented to the Ministry of Health which negotiates with the Ministry of Finance to get the yearly cash allocations for the entire operations in the Hospital and in the community.
The finance department is divided into four sections each interlinked to make up the entire finance cycle. The sections are the following:
Procurement & Purchasing

All the procurement as required by the Public Procurement Regulations takes place with this section of the finance department. Part of this section assumes responsibility to issue and process quotations and tenders. Another section takes care of the one-to-one supplier contact for the ordering and purchasing of the goods and services.

All the stock items purchased are received at the stores and stored or issued accordingly by the store officers. There are five categories of stock items at Mount Carmel Hospital that pass through the following stores:

  • Pharmaceutical store – contains anything related to pharmaceuticals and medical equipment;
  • Main store – receives, stores and processes items relating to general use for the daily operations of the Hospital;
  • Maintenance store – stores any items that relate to maintenance and repairs;
  • Provision store – stores any items of food and beverages to be distributed in sections and is the major supplier to the main kitchen; and
  • Stationery store – contains items of stationery for office and clerical duties.

Store officers control the items upon receipt, ensure the safekeeping of the items while in the storage location and are responsible for the issuing of items to the various sections according to pre-approved requests by the respective head of section.

The accounts section processes all the requests from the respective sections to allocate the costs of such requests issued to the cost centres. This process also involves the receipts and processing of invoices for the items purchased and received by the stores, internal checks and reconciliations, the processing of payment to suppliers and employees, the issuing of invoices to debtors, debt chasing where necessary and any relationship with banks.

This section works out the salaries of all the employees recruited at Mount Carmel Hospital with the Government of Malta and maintains records for the compilation of timesheets of the staff recruited through contractors. This section also makes the necessary adjustments for each individual pay, issues payslips and deals with the Inland Revenue Department for the submission of monthly returns as required by law.
The Finance Department is also engaged in strengthening the IT infrastructure both within the Hospital and in the community. It continuously invests in IT equipment and software in order to improve the current systems and to replace lengthy, inefficient and manual processes.
The finance department is the fulcrum of every section at Mount Carmel Hospital and within the community with the aim to optimise the use of its financial resources, enhance efficiency and maximise the return for every investment made in capital equipment and in IT infrastructure.