Finance Division - Zonal Education Office Naula

💰 Finance Division

VISSION

“To be the leader in disciplined public financial management.”

MISSION

“To efficiently and effectively fulfill the needs of clients through the prioritization of financial resources.”

Introduction:

The Finance Division is the branch responsible for handling the financial management required to systematically carry out all services provided by a Zonal Education Office. Its role is particularly vital for the proper implementation of educational development plans. The main duties of the Finance Branch include managing salary payments and providing various financial services to all staff members within the educational zone. It is also responsible for a wide range of tasks, including the institutional procurement of goods and services and allocating funds for various activities. Operating under the direction and supervision of an Accountant, this branch manages financial reporting and the delivery of financial services.

Core Responsibilities and Duties (Complete List):

Preparing annual draft financial estimates and securing financial allocations.
Disbursing salary payments for academic and non-academic staff.
Paying overtime, traveling expenses, and other allowances.
Disbursing grants for private schools and Pirivenas (monastic schools).
Settling payments related to various programs and workshops.
Maintaining, controlling, and regulating official accounts.
Managing and controlling financial resources.
Disbursing student bursaries and managing related administrative matters.
Settling water, electricity, assessment rates (local government taxes), and telephone bills.
Handling matters related to damage and loss of property in accordance with Financial Regulation (F.R.) 104 (3), conducting preliminary investigations, and reporting all such losses through the appropriation account.
Managing tasks related to the procurement process.
Conducting annual school board of surveys, balancing inventories, and providing recommendations for the disposal of unserviceable items.
Settling payments for the construction and renovation of school buildings.
Reporting the financial progress of all types of payments.
Systematically issuing loans and advances to officers, reconciling balances, maintaining control accounts, and handling related activities.
Preparing and closing year-end accounts.
Reconciling public deposit accounts and maintaining control accounts.
Collecting and supervising periodic financial reports from schools and educational institutions.
Implementing necessary measures to maintain financial discipline and transparency within the office and schools while minimizing audit queries.
Processing and paying pensions and gratuities.
Managing bank accounts and preparing monthly bank reconciliations.
Handling activities related to store-keeping and stock control.
Reporting financial irregularities and frauds concerning resource management to the Zonal Director, and initiating related disciplinary actions.
Conducting internal evaluations of the activities of the Finance Division.
Performing any other official duties assigned by the Zonal Director of Education as and when required.