Finance and Accounts
Finance and AccountsThe Department of Finance & Account is one the Service Departments of Government and is charged with the responsibilities of executing Financial, Accounting and Budgetary activities Of Federal Ministry of Science & Technology. The Department is headed by a Director of Finance and Accounts who is a professional Accountant from the Office of the Accountant-General of The Federation. The Department is made of two Divisions namely Accounts and Budget Division.
Roles and Responsibilities of Accounts Division headed by Deputy Director – Accounts
- Advising the DFA on major financial decision when files and minutes Involving financial flows are received and directing same for Treatment.
- Preparation of PVs entry into Cashbook and remittance transaction to beneficiary accounts.
- Rendition of financial and accounting information to Office of the Accountant General of the Federation.
- Ensuring due diligent in all payment.
- Responding to Internal Audit queries on consulting with other departments.
- Preparing of staff monthly payroll to ensure error/fraud free e-payment.
Roles and Responsibilities of Budget Division headed by Deputy Director – Budget
- Liaison with BOF/FMF on all annual budgetary matters including call circular and budget templates.
- Preparation and costing of departmental budgets in line with budget guidelines from BOF/FMF.
- Coordination and consolidation of departmental budgets.
- Assist in the preparation of NPC and Parastatals annual budgets.
- Costing Departmental projects/programmes.
- Cost aggregation of National Plans and alignment of MDA’s cap budget to National Implementation Plans of the NV20:2020
- Assist and arrange for the Commission’s budget defence at the committee levels of Senate and House of Representatives.
- Ensuring the receipt[s] of monthly, quarterly warrants mandates from FMF and ensure cash-back of same.
- Liaison on capital budget releases and utilization.
- Review of the audit reports and management letters from External Auditors to the projects.
Finance and Control [Service Centre]
The functions of the Unit include:
- Preparation and review of monthly bank reconciliations for a project bank accounts; and preparing Statement of Expenditure [SOEs] for withdrawal applications.
- Preparing work-plans/budgets and cash flow forecasts in consultation with the project management and other projects officers.
- Participation in the evaluation of requests for proposals from consultants and bids from contractors, especially financial evaluation of proposals.
- Checking contracts, invoices and payment orders to ensure compliance with operating procedures of government, the World Bank, ADB and other donor[s] Agencies, e.g. procurements, special accounts, SOEs, special commitments etc.
- Preparation of payment order for all EDF programmes and projects accounts in Nigeria.
- Training of officials in focal States and NPC desk officer on accounting, programme estimate preparation and EDF financial and contractual procedures.
- Keeping safe custody of database for all EDF documents, financial agreements, tender dossiers, etc.
- Review of the audit reports and management letters from External Auditors to the projects
The Finance and Accounts Department is made up of two divisions namely:
- Accounts Division
- Budget Division
The Accounts Division is headed by a Deputy Director (Accounts) who reports to the Director Finance & Accounts. The Deputy Director (Accounts) is supported by (3) three Branch Heads as follows:
a) Assistant Director (Expenditure)
b) Assistant Director (Accounts)
c) Assistant Director (Sub Accounts)
The Assistant Director (Expenditure) is saddled with the responsibility of overseeing the under listed sections:
- Other Charges
While the Assistant Director (Accounts) is in charge of the following sections namely:
- Cash Pay Office
The Assistant Director (Sub Accounts) oversees the functions of the sections listed below;
- Accounting Transactions Recording and Reporting System (A.T.R.R.S)
- Audit Query
- Bank Reconciliation
- Final Account
The Accounts/ Admin is handled by a Principal Accountant, who reports directly to the Director Finance and Accounts.
They work together as a team for the smooth running of the ministry.
The Budget division is the second division in Finance and Accounts Department; it is headed by a Deputy Director who is assisted by an Assistant Chief Executive Officer (ACEO). The Budget Division is consisted of Capital Budget Section and Recurrent Budget Section. These two sections are been supervised by an Assistant Chief Executive Officer, who reports to the Deputy Director (Budget).