FINANCE AND ACCOUNTS DEPARTMENT
The Finance and Accounts Department is responsible for the day-to-day management of cash inflows and outflows. The ultimate goal of cash management is to maximize liquidity and minimize the cost of funds. One of the key goals of the Department is also setting and preparing the proper annual budget that meets the needs and objectives of the Commission. Proper auditing is also being conducted to determine whether or not the financial data provided by accounting is correct. Essentially, the work completed by an Accountant is certified by an Auditor. Essentially, the Department of Finance and Accounts is responsible for rendering advice to the Accounting Officer on matters relating to financial management and control of government funds as guided by Statutory Provisions and Financial Regulations. The Department has the following core functions:
i. Collection of Data and preparation of Annual Budget Estimate of the Commission
ii. Ensuring full receipt of all funds accrued to the Commission from all sources (Appropriation, Intervention, Donor Agency and Internally Generated Revenue of all kinds).
iii. Ensuring not only the disbursement of the approved funds, but also that such disbursement is for the purpose appropriated for.
iv. Ensuring full compliance at all times with the provision of the extant financial guidelines.
v. Render periodic statutory refund to the accounting office and the management as may be required from time to time.
vi. Maintain all the required Accounting Record and render statutory periodic returns to the office of the Accountant General of the Federation.
vii. Assist the Accounting Officer in his response to queries on the report of the Commission’s Annual Account by the Auditor General of the Federation.