The Service

Our business has two different arrangements with clients: -

The core business has always been the provision of financial management services. This provides work all year round with a number of clients and offers financial security and security of employment for all staff. Contracts are in place typically for 3 year periods and our business retention ratio is evidence of the service levels enjoyed by clients.


For all such clients it is a specific target, contained within their contract, that FMD will provide training to the client's staff members in order to increase the extent to which finance tasks can be carried out in house. In a material number of cases, FMD clients have experienced an annual reduction in costs as the client takes on more work. The achievement of this depends largely on the ability of, and the time available for, the client's staff members to concentrate on finance issues.


Services provided shall vary according to client requirements but typically include: -

  • Annual budgets
  • Quarterly management accounts
  • Financial Statements
  • Long term financial projections
  • Loan finance arrangements
  • Covenant compliance monitoring
  • Annual financial plan
  • Liaison with staff teams
  • Policies and procedures
  • Reports to governing body
  • Regulatory Standards compliance
  • Internal financial controls
  • Insurance arrangements
  • Investment of surplus funds
  • Day to day finance matters
  • Benchmarking
  • Finance training
  • Returns to various regulators

Short-term/one off assignments for other clients have consistently been required and, as years have progressed, demand for this type of service has increased considerably. In our view this is a positive reflection of our reputation within the sector. Since 2012 FMD has been commissioned to assist seven RSL’s in remedying financial management issues arising from regulatory involvement.


For such clients, the role carried out is normally short term and is task specific. Tasks have varied widely and have included: -

  • Business Planning
  • Raising private finance
  • Annual Accounts preparation
  • Viability Assessments
  • Scottish Homes Large Scale Voluntary Transfers
  • Local Authority Transfers
  • GHA second stage transfers
  • Internal Audit
  • Merger Proposals
  • Committee training
  • Finance Manager cover
  • Finance training