Statutory Functions of the Finance & Accounts

The department is saddled with the following responsibilities:

• Advising the accounting officer and other departmental heads on financial matters as well as technical provisions of financial regulations and other treasury and finance circulars.
• Ensuring compliance with financial instructions and the accounting codes by all staff

• Maintaining proper records of accounts such as main and subsidiary ledgers, cashbook, DVEA book, Personal Advances Ledger

• Computation of the Agency’s staff salary increments, entitlements, promotion arrears for the month.
• Preparation of final accounts/ financial statements.
• To ensure effective budgeting control by matching/comparing budgeted figures with actual expenditure or revenue as the case may be.

• Ensuring that cheques/drafts are collected as at when due and properly keeps record of account and to ensure prompt lodgments of all cheques to their proper bank account.
• Preparation of Financial Concurrence Report (FCR) which is expected to address the trend analysis showing at least the three most recent incidence of similar or comparable expenses including date (with evidence attached), payment schedule showing clearly the expected timing and amount of actual cash payments, sources of funding for the proposed project, budget head, sub head, approved estimate and amount outstanding.

• Advising on the control and management of fund, investment, loans and guarantees of the Agency.
• Ensuring prompt rendition of all returns e.g. consolidated accounts (monthly transcripts, bank reconciliation statement, revenue and expenditure returns etc, as prescribed in financial instruction.