MANDATE OF THE DEPARTMENT
The Finance Department is mandated by Section 29(1,2(a)(b) of the NCDC Act CAP 135, to ensure an efficient and effective integrated Accounting system at the Centre. It also provides accurate, reliable and timely financial information to management for decision making. The Department is headed by the Finance Secretary currently Mr Kasirye Bukulu Stevens(CPA). The Department is subdivided into sections of Accounts, Bookkeeping, Stores and Marketing. The department also oversees the Accounts section of the Science and Technology Equipment Production Unit(STEPU).
OBJECTIVES OF THE DEPARTMENT
Design and administer an effective integrated Accounting system which will ensure utilization of and accountability for the Centre’s resources. Provide accurate reliable, relevant and timely financial information to Top management for making relevant decisions and right judgments. Provide financial information to enable Departmental heads and Project Managers to answer score card, attention directing and problem-solving questions. Also, shall provide data for planning and implementation. Appraise and interpret the effects of economic, social forces and the Government policies upon the Centre’s operations. Interpret and report the results of operations in form of quarterly financial reports to all levels of management, departments and projects. Coordinate and administer the management plan for income generating, capital investing, production costs, sales forecasts and overheads. Keep books of all income and expenditure and proper records in conformity with the generally acceptable accounting standards. The books of Accounts shall be kept at the headquarters of the Centre and shall always be open for inspection by council or by such other persons as the Council may authorize. Implement the Council directive to prepare, in respect of each Financial year, a statement of account Secretariat to the Centre’s Budget committee. Present the consolidated NCDC budget for the particular Financial Year to the Budget committee for the final discussion and endorsement for submission by the Director to the Finance and General-Purpose Subcommittee for eventual approval of the Council. Assist the Director in identifying and implementing financial opportunities. Ensure that inventories are accounted for by value as well as by quantity, keep records so as to determine the unit cost of each inventory item and reconciliation of the total value of the stocks of inventories with the financial records. Ensure that storekeepers arrange the inventories for which they are responsible, to be inspected regularly and for written reports to be made on the sufficiency of the storage accommodation and on the general condition of inventories and storage facilities.
OUTPUTS OF THE DEPARTMENT
Annual Budget for the Centre Quarterly Budget Performance Reports to Management and Council Six months Financial Statements to the Accountant General Nine Months Financial Statements to the Accountant General Annual Financial Statements to the Auditor General and the Accountant General Annual Report to the Minister Fixed Asset Register
LINKAGES WITH OTHER DEPARTMENTS
The Department plays a support services role by ensuring that all academic and Administrative Department access financial resources for operations. The Department facilitates programme activities by effecting payments to participants in form of allowances, transport refund etc. The department is also a source of data for planning and budgeting for the Centre. All Departments depend on the Finance Department for information on matters of finance, planning and budgeting.