Annual Report 2019-2020

STRONG FOCUS 26 DEPARTMENT OF MANAGEMENT Last year was the first where a comprehensive oper- ating budget was crafted to cover all the union’s funds and divisions. Such an effort is of enormous benefit to the union and is a sign of a new way of thinking in the union’s financial management in the future. The department of management consists of three people: Óskar Örn Ágústsson, financial manager, Sveinn Ingvason, the vacation house manager and Þuríður Gísladóttir, accountant. The department works closely with all the other departments of Efling and its work coincides with that of every single employee of the union. The department of management is a pillar of other union departments and undergirds its operation. It covers management and finances, bookkeeping, payroll, plans and the management and mainte- nance of vacation houses. The role of the department is, in other words, to ensure that bills and grants are paid in a timely fashion, that there are sufficient available funds for the payment of bills and grants, that the return on capital is good, that vacation houses are properly maintained and managed, that the right informa- tion is entered into the union’s ledgers and that the board and the administrators receive dependable information regarding its financial standing as quickly as possible.