Accounts Department
Head of Department
The Accounts Department of the Ministry of Grants and Donor Agencies in Ebonyi State is a significant department in charge of the ministry’s financial administration. Its primary goal is to maintain fiscal transparency, accuracy, and accountability in all financial transactions, ensuring the right use of resources for the benefit of the community.
Key Responsibilities:
Budget Planning and Management:
Budget Preparation: Working with other departments to create and manage the ministry’s annual budget, combining budgetary resources with program objectives.
Budget monitoring: Regularly checking expenditures against the budget, detecting abnormalities in the ministry, and providing financial reports to upper management.
Financial Recordkeeping:
Accounts Payable: Managing timely and proper payments to suppliers, service providers, and contractors.
Accounts Receivable: Keep track of grants, gifts, and incoming funds to ensure proper documentation and deposit.
Financial Reporting:
Financial Statements: Developing comprehensive financial statements, such as income statements, balance sheets, and cash flow statements, in order to assess the ministry’s financial health.
Internal and external reporting: Creating reports for both internal decision-making and external stakeholders such as government agencies, donors, and auditors.
Audit and Compliance:
Auditing: Coordination of annual financial audits to ensure legal and regulatory compliance.
Tax Compliance: Ensuring that the ministry abides with tax laws and filing requirements.
Grant and Donor Fund Management:
Grant tracking: monitoring the grant money distribution and usage to verify that it is spent in accordance with donor agreements and project objectives.
Donor Financial Reporting: Giving donors agencies financial information and demonstrating transparency and accountability in money management.
Financial Planning:
Financial forecasting: Assessing the future financial needs, risks, and opportunities in order to make prudent financial decisions.
Compliance and Internal Controls:
Financial policies: The development and implementation of financial guidelines and processes to assure the integrity, correctness, and control of financial transactions.
Internal Controls: The implementation and monitoring of internal controls to prevent fraud, errors, and financial mismanagement.
Vendor and Supplier Relations:
Negotiations: Negotiating contracts and agreements with suppliers and contractors to get advantageous terms and circumstances for the government.
Payment conditions: Ensuring that payments are made in accordance with the terms agreed upon.
Financial Training and Support:
Providing financial advise and help to other departments, supporting them in properly managing their budgets and funding.