Search PageSearch

Contact Us
999 Balmoral Street
Thunder Bay, ON
P7B 6E7
Phone: (807) 625-5900
Toll-Free: (888) 294-6630
Follow us on Facebook.COM/TBDHealthUnit Follow us on Twitter.Com/TBDHealthUnit Follow us on Instagram.COM/TBDHealthUnit Phone Us Add to favourite Email this page to a friend Bigger Font SizeNormal Font SizeSmaller Font Size

Overview of Program

Finance exists to uphold financial data integrity and safeguard the assets of the organization through ethical, efficient and cost-effective processes (internal controls) to improve decision making in support of the Health Unit’s strategic management initiatives. 

Finance outcomes must be achieved based on the principles and guidelines included in approximately 25 pieces of legislation or accountability requirements.  It’s core functions include:


Core Function


Description / Objectives


  • Collects, records, and analyzes relevant financial data to promote fiscal responsibility and accountability over the expenditures of the health unit;
  • Maintains the Health Unit’s financial books and records by recording all financial transactions related to revenues, expenditures, banking, payroll and inventory maintenance and control to ensure timely and relevant information for decision making;
  • Maintains the Health Unit’s User Fees and related Policy and procedures.


  • Develops and maintains effective mechanisms for the preparation of the annual budgets using the principles of fairness, transparency, consistency, accuracy;
  • Monitors actual results against budgets to ensure appropriate financial stewardship;
  • Maintains and monitors the Health Unit’s Reserve and Reserve Funds and related Reserve Fund Strategy.

Financial Reporting

  • Provides accurate, timely, clear and complete information for decision making and to meet accountability requirements of funding bodies and stakeholders;
  • Prepares financial statements in accordance with Canadian Generally Accepted Accounting Principles (GAAP); and Public Sector Accounting Board (PSAB) Guidelines;
  • Provides representation to external auditors on the financial environment of the Health Unit.

Internal Controls and Policies

  • Designs, implements, and maintains effective internal controls over financial processes to minimize risk of financial loss, and safeguard the assets of the organization;
  • Prevents, detects and corrects errors, by providing clear and consistent treatment of financial issues.


  • Develops and maintains policies, processes and procedures to ensure that the required quality and quantity of goods and services are procured in the most efficient and cost-effective manner, and to ensure fair and equitable treatment of all bidders.

Last Updated: 8/12/2013