1.0 FINANCE AND ACCOUNTS DEPARTMENT
The Act No. 9 of 11th January, 1977 that established NBTE as a corporate body with perpetual succession was originally made up of five (5) Departments and presently eight (8) departments which Finance and Accounts department is among the departments.
The Finance and Accounts Department which is being headed by a director consists of three (3) divisions which are being headed by a deputy director each. The divisions are:
- Main Account
- Expenditure Control
The functions of the departments are as follows:
- Advising the Executive Secretary on all aspects of managing the finances of the board according to Government’s regulations, rules and policies.
- Preparation and administration of the board’s approved budget.
- Maintenance of adequate accounting system for receipt and payments in respect of the board’s finances as well as disbursements of funds to polytechnics and preparation of financial statements thereon.
- Procurement, storage and allocation of store consumable items.
2.0 DETAILS OF COMPOSITION AND FUNCTIONS OF THE MAIN ACCOUNT DIVISION
The main account division of Finance and Account department is headed by a Deputy Director and it consists of the following sections:
- Cash Office;
- Loans and advances; and
- Final account
2.2.1 Cash Office
The general duties of the cash office are mainly the receiving and payment of claims, the keeping of the books to record all transactions, the operation of Bank Accounts and providing information on the cash position(s) at any giving date.
Up-to-date recording of transactions and regular supervision by checking of records are also carried out to eliminate chances that might be exploited leading to theft, fraud etc.
The functions of the section can be summarized as follows:
- Receipt and record of board’s revenue as well as issuance of official receipt for all amounts receivable by the board.
- Making payments in respect of all categories of expenditure.
- Maintenance of income and expenditure cash books in respect of personnel, overhead, capital and treasury single accounts.
Keeping custody of security documents
- Production of report in respect of income and expenditure of the board at regular intervals.
2.2.2 Loans and Advances
The section collects all necessary information as it relates to loans and advances granted to staff i.e. personal or administrative advances to ensure that they are fully recovered as at when due. It ensures that there are no losses arising from such loan /advances imprest/ transactions by maintaining a proper records and controls.
In the case of loans, the section communicates to the salary section the particulars of the staff, mode of repayment, installment payments where applicable and expected last recovery date for necessary action.
The section maintains ledger accounts for staff in respect of personal and administrative advances and monitors it’s retirements.
- It ensures that no further advances are granted to any staff who is yet to retire/account for an earlier advance.
- Provides final accounts section with staff retirement analysis by way of journals.
- Updates staff ledger accounts in respect of Loans/Advances.
2.2.3 Payroll Section
The section collect and assemble information relating to salaries and wages usually provided for in the contract of employment between an employer(NBTE) and employees for the purpose of remunerating the staff at regular interval usually on monthly basis.
This information includes letters of appointment, staff manuals, occasional circulars from Federal Government/NBTE, trade union agreements and even applicable labour laws.
- Involves in documentation and custody of payroll information in respect of staff.
- Production of report at regular intervals in respect of staff salaries
- Updates staff passbooks in respect of statutory deductions i.e. National Housing Fund etc.
Among other things, the section ensures:
- Only bonafide employees are paid salaries and wages and that they receive what is rightly due to them.
- There is proper authorizations and internal checks in processing salary transactions.
- That only authorized transactions are made from salaries and wages on payment and remitted accordingly.
- That salaries and wages transaction is in line with applicable conditions of service.
- There is adequate safe guards and security over salaries and wages processing and payments.
- There is proper accountability for all salaries and wages transactions.
2.2.4 Final Account
The section assembles information and transactions from various sections of the finance and accounts department for the purpose of producing report of the board’s activities during the financial year.
- Collects and analyses receipts and payments from various cashbooks maintained in the cash office section and aggregate them into various ledger accounts inline with the approved chart of accounts.
- Maintains fixed asset register for recording and monitoring all transaction relating to the board’s fixed asset including their movement/transfers.
- Prepares Trial Balance to show the debit and credit entries of transactions to confirm the arithmetical accuracy of the books of account during the year. Among other things the section makes adjustment and passes journal entries in respect of loan and advances repayment/ retirement for the purpose of ascertaining it’s accuracy.
- Works with external auditors during the audit of the board’s account and to offer explanation where necessary.
- Submission of the audited account of the board to the office of the Accountant General of the Federation, Abuja.
- Involves in answering queries and explanation that may arise from the audited accounts where necessary.
3.0 DETAILS OF COMPOSITION AND FUNCTIONS OF THE BUDGET UNIT
3.1 OVERVIEW OF THE BUDGET UNIT
The Budget Section/Unit of National Board for Technical Education (N.B.T.E.) is an integral segment of the Budget and Budgetary Division of the Finance and Accounts department of the Secretariat.
This unit which has been in operation since the existence of the Board in 1977, is charged with the sole responsibility of preparing, collating, summarising, submitting, analysing at the level of defence and presentation of periodic budgets to the relevant Bodies ( F.M.E.,F.M.B.& P.,F.M.F.) concerned as and at when due.
Under the relevant Acts of Parliament, the N.B.T.E. is saddled with the responsibility of overseeing the establishment, administering, accrediting, coordinating and channelling of funds to the Federal polytechnics when necessary, among other multi-faceted duties and functions.
Consequently, budget administration in the Federal Polytechnics is one of the composite functions of the Board. In this vein, the budget unit instructs, directs, collates and summarises prepared budgets in the Federal Polytechnics. These salient functions have been carried out successfully over the years.
The budget unit of the Board is fully computerised and has been able to effectively and efficiently perform its onerous tasks with the purposeful direction of the Executive Secretary on the one hand; and the cooperation of the Management staff on the other hand.
The unit is manned by a dedicated team of staff who work assiduously to meet the usually tight time frame demanded by the Authorities.
3.2 STATUTORY FUNCTIONS OF THE BUDGET UNIT
- Periodically, budget call-circulars are forwarded to the Board from the Budget Office of the Federation (BOF) in conjunction with Federal Ministry of Budget and Planning through the Federal Ministry of Education highlighting in details the guidelines to be followed in the preparation of any relevant year’s budget in respect of Personnel, Overhead and Capital costs.
- These are in turn forwarded to the Federal Polytechnics for their compliance and action; who thereafter submit such computations to N.B.T.E. Secretariat for perusal and collations.
- N.B.T.E. Budget unit-collated-submissions are analysed and summarised for onward transmission to the Ministry for further action.
- At given times, the unit along with other counterpart budget units in Federal Polytechnics goes to the National Assembly to defend their annual budgets.
- Thereafter, when the year’s Appropriation Act is signed, the budget unit of the Board analyses and presents representations on behalf of the institutions to Government where shortfalls arise or other emerging problems as the case may be.
- The budget unit renders statutory status reports on budgets performance to Government and other relevant bodies after compilation from the institutions under the board’s purview.
3.3 OTHER RELEVANT FUNCTIONS OF THE BUDGET UNIT
Apart from the above prerogative functions, the budget unit has the duty, in line with Board’s mandate to carry out the following:
- To advise and liaise on matters bordering on budgets concerning non-payment of subventions like take-off grants, peculiar allowances, Internally-Generated-Revenues and so on with Governments on behalf of the institutions under purview of the N.B.T.E. as situation may demand from time to time.
- Assist in the determination or ascertainment of such amounts for the purpose of payment by Government.
- Coordinate training of budget and accounting staffs on new budgetary techniques and policies of Government by organising nationwide workshops, seminars and conferences as the Board may direct.
- Assist in computations and compilations of promotion arrears of staffs in Polytechnics under the aegis of N.B.T.E.
- Perform other ancillary tasks as the Executive Secretary may determine from time to time.
4.0 FUNCTIONS OF THE EXPENDITURE CONTROL
- The section takes liabilities and records the same in the vote book for below the line accounts on behalf of Advances Section.
- The liabilities taken are clear and necessary adjustment is done when the appropriate authority now approves the advance.
- It ensures every approval one in the estimates and amount approved is not over spent.
- The section classify each request to the appropriate sub-head
- It analyse the total expenditure on each sub-head-periodically.
- Preparation of payment vouchers to upset payment for contractors, supplies and staff advances other those paid along with salaries e.g Local transport and travelling allowances, purchases of office equipment e.t.c.
- The gross amount must be entered into the vote book
- All liabilities and commitments most be entered into the vote book as soon as they are incurred.
- Ensure that a vote book is maintained and that every payment is entered in the vote book accordingly.
- Exercise the economy that is must not spend money merely because it has been voted.
- Must ensure all expenditures are classified in accordance with the estimates and votes must be applied duly for the purpose for which the money was provided.