Consolidation Accounts and Financial Management Department

The Consolidation Accounts and Financial Management department is responsible for the compilation of the State government financial reports in accordance with the relevant laws.  The department is in mutual contact with all the government departments and liaises with many other bodies affiliated with the State government. The department provides professional guidance to the government offices and their supporting units in matters of accounting and financial reporting.

The responsibilities include:

  • Preparation of the consolidated financial reports and the Budget Implementation Report of the State Government.
  • Management and implementation of the reform in government financial accounting, while adopting the International Public Sector Accounting Standards (IPSAS). This is done parallel to the implementation of an organizational resources system in all government departments.
  • Management of accounting applications, financial reports analysis, and management of the central accounting information glossary.
  • Management of the government accountants' database
  • Maintain and reconcile all the Funds accounts;
  • Reconcile all general ledger codes periodically

 

The Project Financial Management Unit (PFMU): PFMU is charged with the following responsibilities:

  • Examining the suitability of projects to be carried out
  • Financial management of all the projects in line with laid down procedures including audit and post mortem evaluation.
  • Supervision of Projects budget implementation.
  • Review various projects accounts and controls periodically;
  • Advise the office of Accountant General and Project Steering Committee on the update on the various projects periodically;

The Subsidiary Unit is responsible for:

  • Processing of Car Loan and Housing loan to all employees in the State Public Service.
  • Ensure deduction of monthly loan repayment, reconciles with employees and issues Release certificate on completion of loan repayment.
  • Reconciles on Monthly basis outstanding amount on Car and Housing Loan with General Ledger reconciliation officer.

The Financial Intelligence and Research unit is responsible for the following:

  • Domestic and International debt. The Unit is responsible for evaluations relating to the debt management, for identifying courses of action to minimize the costs of the debt and for pricing specific transactions for the Ministry of Finance. They will work in close collaboration with the DMO (Debt Management Office).
  • Fixed Assets valuation
  • Actuarial valuation of Pension and Gratuity.
  • Administration of collection of State debts.

The Consolidation Accounts and Financial Management department supervises the budget implementation of the MDAs on Capital Expenditure. It ensures the accounting closure and capitalization of Capital expenditure during the accounting year/period.