IQAC Financial Management Conducted By: Ahmadul

Transcript:IQAC Financial Management Conducted By: Ahmadul:
IQAC Financial Management Conducted By: Ahmadul Haque Finance Officer, HEQEP Cell- 01711241344 Email- ahmad.haq2008@gmail.com 29 February 2016 IQAC Disbursement Arrangement Block allocation to Departments/Faculties/Institutes In addition to the project cost for establishing IQAC there will be separate block allocation to each program offering entity i.e. department, faculty and institute for SA Committee and conducting self-assessment. Each program offering entity of eligible universities would receive a maximum allocations amounting to BDT 958,800.00 depending on size number of programs. Financial Management Financial Responsibilities: The main duties and responsibilities of the Accountant and Finance Officer will be to: Checking invoices for goods, works and services and processing for payment; Maintain Bank Book, Payroll Registers; Maintain all ledgers, Registers etc.; Maintain vouchers/bills/receipts/invoices/contracts/work orders and all other important financial transaction and procurement documents in a systematic order; Collect bank statement and reconcile bank balance; Prepare sub-project’s Quarterly Financial Management Reports (QFMRs); Prepare reply to the audit observations made by government’s auditors from Foreign Aided Project Audit Directorate (FAPAD); Prepare quarterly and annual budget expenditure plans for the sub-project; Any other financial management related tasks assigned to him/her. FM functions of IQAC Office at a glance Processing invoices for payment; Maintain vouchers and other important documents; Maintain books of accounts, recording transactions; Maintain Registers; Reconcile bank statement; Prepare Financial Reports; Periodical fixed asset verification; Interface with auditor and furnish reply to the audit observations. Disbursement of Fund Next Six months expenditure forecast/ committed expenditure is used as a basis of fund disbursement. Subsequent disbursement will be made upon utilization of fund above 80%. If utilization doesn’t reach 80%, justification required. HEQEP transfers fund to the operating account (OA) through bank transfer. The Director, QA must acknowledge the receipt of fund promptly. Payments from Operating Account: The Director (QA) should strictly follow the government’s financial rules and regulations in making expenditures and payments for procurement of goods, works and services seek the approval of the university’s head of procuring entity (HOPE) for undertaking procurement. The procurement plan of the subproject must be approved by the World Bank prior to initiation of any procurement, be it direct shopping, NCB and ICB. Procurement done without World Bank’s prior approval of the procurement plan shall be deemed ineligible expenditure and the World Bank will not reimburse the amount. Financial and procurement rules and Guidelines issued by GoB and World Bank will, therefore, be equally applicable for making expenditure and payment.