MDAs

Ministry of Women Affairs and Social Development

EDO STATE GOVERNMENT

Ministry of Women Affairs and Social Development

Department of Finance and Accounts

INTRODUCTION

The Accounts Department plays a pivotal role in ensuring financial stewardship, compliance, and effective resource management within the Ministry. This report provides a detailed overview of the department’s structure, functions, and financial position for better understanding of our operations and challenges.

CORE MANDATE

The primary mandate of the Accounts Department is to ensure the efficient management of public funds in compliance with financial regulations. The department is responsible for maintaining transparency, accountability, and prudent financial practices within the Ministry.

DUTIES AND RESPONSIBILITIES OF THE DEPARTMENT

The Finance and Accounts Department is headed by a Director from the Office of Accountant-General (OAG).  The department is charged with the following responsibilities:

  • Financial control and management of funds.
  • Maintaining financial prudence, transparency and accountability.
  • Keeping of adequate books of accounts.
  • Preparation and execution of annual budget.
  • Provision of financial advisory services to other Departments and Units.
  • Rendering returns to OAG and other Government Agencies.
  • Collection and remittance of Revenue.
  • Ensuring compliance with accounting and tax laws

Other duties of the Department include:

Budget Preparation and Implementation:

*Collaborate with other departments to draft the Ministry’s annual budget.

*Monitor budget implementation to ensure adherence to approved allocations.

Financial Reporting:

*Prepare and submit timely financial statements in compliance with public sector accounting standards.

*Report on budget performance and revenue collections.

Expenditure Control:

*Scrutinize all payments and ensure compliance with financial regulations.

*Maintain robust internal controls to prevent misuse of funds.

Revenue Management:

*Monitor revenue collection to ensure accurate accounting and reporting.

Audit Support:

*Facilitate internal and external audits by providing necessary documentation and clarifications.

FUNCTIONS

  1. Finance Division – Budget
  2. i) Preparation of Annual Estimate
  3. ii) Budgetary Control

            iii)        Liaising with Ministries of Finance and Budget

  1. Accounts Division

            (i)        Liaising with the OAG in setting up of accounting system

            (ii)       Preparation of Annual Appropriation Account

  1. Preparation of Payment Vouchers for:

            (i)        Monthly salaries

            (ii)       Overheads Recurrent and Capital Payments

(iii)      Control and maintenance of accounting records, books of accounts and books   of assets

  1. Revenue Collection

            (i)        Maintenance of revenue records and control

            (ii)       Remittance of revenue

            (iii)      Rendition of monthly revenue statement of the MDA for progress analysis.

(e)       Other Functions

            (i)        Processing of approvals for release of funds

            (ii)       Ensuring that approvals are in line with financial instructions

            (iii)      Request for release warrant,

            (iv)      Interpretation of financial circulars and matters thereon

  • Attending to all other matters as they arise