Finance as a component of the Department of Finance and Administration has three divisions which are Finance and Accounts, Revenue, Budgets and Planning.
1. Finance and Accounts Division
The Division carries out the following functions:
Processing of contract files from all the departments in FCDA for payment.
Processing of staff personal emoluments and effecting of all authorized deductions such as PAYE, Contribution Pension Scheme (CPS), National Housing Fund (NHF), and Union dues.
Processing of staff claims and allowances and other administrative costs, such as Duty Tour Allowances, Course/Training fees, Repatriation Allowances, Burial and Capital expenses.
Maintaining and taking custody of all the accounting books and records of the Authority and managing the Authority's accounts.
Reconciling all the transactions in the Authority's cash book (payment and revenue) with statements from its various banks.
Preparing income/expenditure accounts and balance sheets for the Authority.
Maintaining accurate records of the income and expenditure of the Authority.
Co-ordinating the preparation of the audited accounts of the Authority.
Preparing of Progress reports on the activities of all sections of the Accounts Division to guide management in making/implementing policy decisions.
2. REVENUE DIVISION
The Central Revenue was set up to handle the traditional role of tapping all revenue and investing same in appointed commercial banks. Other duties of the Division are as follows:
To ensure that all monthly preparations, quarterly and yearly reports based on the collation of payments are properly documented and presented.
To ensure that all statutory allocations and cheques are lodged into banks as instructed by the Director.
To ensure that all cash books for daily returns of collections are accounted for and documented.
To ensure the issuance of receipt booklets to the collection centres.
To ensure the preparation of payment advices to the Cheque Room.
To ensure the preparation of cash books for the various banks where statutory allocations are lodged.
To ensure the collections/remittances of VAT, WHT and PAYE Taxes as well as the maintenance of records relating to said taxes. Also to liaise with the FIRS on all such related matters on behalf of the Authority.
To help staff apply for and obtain Tax Clearance Certificates.
3. BUDGET AND PLANNINGThis Division handles the following duties:
The Preparation of FCDA’s Medium Term sector strategies.
The Preparation of FCDA’s annual budget and the initiation of necessary control strategies.
The Processing of payments for all FCDA capital projects.
The Processing of payments for all FCDA recurrent/over head cost related issues.
The Conduct of Quarterly Project Monitoring Exercise for all FCDA Capital Projects.
The participation in the conduct of a Ministerial bi-annual verification exercise of all FCT projects.
The Conduct of economic and statistical investigations and documentations for the FCT.
The Generation of budgetary, and other finance related statistical data for the Authority.
The Designs and proposals of socio-economic and financial policy related matters for the Authority through quarterly and annual project monitoring reports
The Administration component of the Department of Finance and Administration, is responsible for the effective and efficient management of materials and Human Resources for the FCDA. This is done through the provision of manpower needs and the execution of other administrative services and functions.
The Administration arm comprises of three divisions which are Appointments, Promotions and Discipline (APD) Division; Staff Welfare, Training and Security Divison; and Supplies Division.
A. APPOINTMENTS, PROMOTIONS AND DISCIPLINE DIVISION:
The APD Division assesses and recommends eligible officers for promotion. It handles all disciplinary issues and all the establishment matters of the Authority; including employment, transfer of service, confirmation/regulation,upgrading, conversion and posting.
B. STAFF WELFARE, TRAINING AND SECURITY DIVISION
This division handles staff claims, car and housing loans, labour matters, internal security, among others. Its training responsibility is to equip staff with modem skills with a view to enhancing overall performance in all departments of the Authority. And this objective is achieved through the organizing of workshops, seminars, conferences and in-service training in areas relevant to their jobs.
This division is charged with the responsibility of procuring office working materials, the establishment and provision of store services, bi-ennial and stock-taking maintenance of office equipment and the compilation of in-service items for destruction/disposal.