Finance and Accounts

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Director

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Brief History

The Department of Finance & Accounts is responsible for the day – to – day monetary operations of the Authority, the Department also oversees the Incoming and Outgoing payments, Budgeting, Cash Management and Financial Reporting. The Department is saddled with the task of making informed and strategic financial decisions of the Authority. It became operational in December, 2022 by the recommendation of the 8th Board of FCDA and approval of the Hon. Minister, FCT Bello Muhammad. The Department is headed by a Director, Mrs. Hauwa Asabe Mohammed, a fellow of Association of National Accountants of Nigeria (ANAN) who has a proven track record as a multi-dimensional per excellence, a team player, hardworking and high accomplishments with extensive experience in Financial Matters

Mandate

The Finance & Accounts Department runs in line with the International Public Sector Accounting Standard (IPSAS) to perform these specific roles and duties.

- Ensuring Compliance with Financial and the Accounting code/manual by all staff under its control and supervision.
- Advising the Accounting officer (The Executive Secretary) on all Financial matters as well as the Technical Provisions of Financial Regulations, other Treasury and Financial Circulars.
- Managing funds in a manner that assures smooth operations of FCDA.
- Maintaining proper Accounting records such as books of Accounts, Main and Subsidiary Ledgers.
- Ensuring Adequate Control and Management of the property Plant and Equipment Register and reconciling the schedule thereto the General Ledger on monthly basis.
- Ensuring the existence of effective and adequate Internal control system to safeguard the assets of FCDA
- Ensuring prompt disbursement to contractors/suppliers and staff using the Government approved payment mode.
- Ensuring the timely preparation, payment of salaries and remittance of third party deductions simultaneously.

Functions

Preparation & monitoring of Budget, and reporting on Budget Performance for the Authority & relevant Agencies of government.
General planning of the Authority’s finances and keeping the data for all the financial activities of the Authority.
Payments of approved vouchers for both Recurrent and Capital expenditures.
Processing of Staff salaries to IPPIS, revolving Loan scheme, National Housing Fund, Contributory Pension Scheme (CPS) and tracking of staff contributions.
The Reconciliation of the Authority’s Accounts and keeping proper records of the Authority’s Assets.
Payment of Resettlement and Compensation to approved beneficiaries and all other approved cases.
Collection of all revenues accruable to the Authority, ensuring remittance to the FCTA Treasury Single Account.

Structure

The Department of Finance & Accounts is comprised of four (4) Divisions namely:

Budget & Planning Division
Expenditure Division
Revenue & Tax Division
Fiscal and Financial Reporting

Sources of Revenue (IGR)

The Authority’s sources of Internally Generated Revenue are listed below:

Tender Fees
Survey Fees
Sales of Unserviceable Stores & Office Equipment
Change of Land Use
Earnings from Lease of Telecomm Ducts.
Sale of Legal Agreements and Documents
Sale of Land Use Maps
Fees for Replacement of ID Cards.
Other Fees (Apo Market Process fees)
Other Fees (Plot Extension, Merger, and Sub-Division in FCC)
Other Earnings (Sale of Guidelines & Development Control Manuals for Mass Housing Development Scheme in the FCT)
Other Earnings (Mass Housing Land Commitment Fee)

Contact

Department Email: finance@fcda.gov.ng

Head of Department: mohammed.hauwaasabe@fcda.gov.ng