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Reputy.c cf -e Philippine*
IFUQAO STATE UNIVERSITV

FINANCIAL MANAGEMENT SERVICES

The Financial management Organization including Budgeting, Accounting and
Disbursing is headed by the Director of Finance. She manages the financial resources of
the University. The organization is also composed of the Chief Accountant, the Budget
Officer and Staff, the Disbursement Officer, the Collecting Officer, the Assessment officer,
and the Scholarship Coordinator. The Chief Accountant gives advice on financial matters
and prepares and submits financial reports to management and other government
departments and agencies authorized to receive such reports. She/he also manages the
maintenance of basic and subsidiary accounting records and books of accounts to reflect
accurate and current financial information required by the existing auditing rules and
regulations and by the management. Furthermore, she/he certifies the availability of
funds, prepares billing to debtors of the national government, and supervises the
assessment of student fees upon enrolment. The Budget Officer and Staff is responsible
in facilitating the development and improvement of budgetary methods, procedures, and
justifications, in providing budget subject to budgetary ceiling fund estimate in support of
the College operations, plans, and programs, in preparing annual physical, and financial
plans, and in allocating available funds to programs on the basis of approved guidelines
and priorities. She/ he also reviews performance report to determine conformity with set
standards and also prepares financial report for management guidance as requires by
higher authorities. The Disbursement officers monitors collection and deposit of tuition
fees and miscellaneous fees and makes sure that all collection s and income are
deposited to the authorized bank. She/ he is also responsible in checking on approved
payments and issues checks to claimants and in preparing and submitting collection. The
Disbursement Officer is also the one coordinating with the depository banks on the status
of NCA. The Collecting officer's or the payroll officer's task is to collect fees from the
students and other clienteles, deposit collection to the depository bank, prepares
collection and deposit reports to be submitted to the Officer of the University Accountant.
Preparing of payroll and remittances is also given to the collecting officer. The
Assessment officer is in charge of the assessment of students' fees, issuance of
clearance forms during major examinations, and issuance of test permits to students after
accomplishment of clearances. Lastly is the Scholarship Coordinator who coordinates
with the Scholarship granting agencies, prepares billing statement to Scholarship Donors,
responds to inquiries regarding scholarship, and monitors submission of grades and other
scholarship requirements.
In Addition, the personnel and staff in the Accounting Office are responsible in the
implementation of the following budgeting or accounting processes. First is the Budget
Preparation. It starts at the unit level of the different operating units and colleges of the
University. The Deans and Directors shall prepare estimates or budgetary requirements
for their respective programs/projects together with justification and submit to the budget
office. The Budget Office shall then consolidate the fund required of each unit and prepare
an annual comprehensive budget considering the budget policies set in the IFSU Code
and distribute it back to the Deans and Directors for reviews. After taking into
considerations feedbacks from the Deans and Directors, the Budget is finalized and
submitted for approval by the BOR. Second is the budget Allocation and Utilization. In
this process, the deans and Directors submits request for the utilization of the funds to
the Budget Office for the certification of fund allocation. The request will be forwarded for
Approval of the University President or the OIC. Then, the canvass will be administered
to suppliers or be posted to PhilGEPS.