Page 256 - Area 10 - Relevant Document

Part 1- Administrative Manual

another, and other needed inventory adjustments with the aim of having an updated
inventory or properties and their users.

4.3. Department of Finance Services
The responsibility of managing the financial resources (i.e. from budgeting to accounting
and disbursement of cash) of the university is vested on the Department of Finance Services. The
department shall be headed by a Finance Management Officer (FMO) or Director for Finance
(when by designation).

4.3.1. Budget Office/ Section

The Budget Office is headed by a Budget Officer III or Section Head (when by
designation). It is concerned with the preparation and examination of budget requests and
justifications, allocation of funds for the different programs, projects and activities of the University
in coordination with the Office of Planning and Development. It also includes the preparation of
budget summary which is the outcome of a budgeting process on two levels – one in the campus
level and the second in the University level. Budgeting in the campus level reflects the program
allocation and priorities set for the different programs and services by the Deans and Directors and
other officials of equal rank in the campus. The budgeting process in the University level is
undertaken in consultation with the Directors, Deans and Vice Presidents who present and defend
their respective budgets. Specifically, the Budget Officer has the following functions:
4.3.1.1. Develops and improves budgetary methods, procedures and justifications;
4.3.1.2. Provides budget subject to budgetary ceiling fund estimate in support of the College
operations, plans and programs;
4.3.1.3. Prepares annual physical and financial plans;
4.3.1.4. Allocates available funds to programs on the basis of approved guidelines and priorities;
4.3.1.5. Reviews performance report to determine conformity with set standards; and
4.3.1.6. Prepares financial report for management guidance as required by higher authorities.

4.3.2. Accounting Office/ Section

The Accounting Office/ Section is headed by an Accountant III or Section Chief (when
by designation) with the following functions: 1) Bookkeeping, 2) Processing of Liquidation, 3)
Payroll Preparation 4) Financial Reports and 5) Student Accounts. Specifically, the Accountant
has the following functions:
4.3.2.1. Gives advice on financial matters;
4.3.2.2. Prepares and submits financial reports to management and other government departments
and agencies authorized to receive such reports;
4.3.2.3. Maintains basic and subsidiary accounting records and books of accounts to reflect accurate
and current financial information required by existing auditing rules and regulations and by
management;
4.3.2.4. Certifies to the availability of funds;
4.3.2.5. Prepares billings to debtors of the national government; and
4.3.2.6. Assesses student fees upon enrolment.

4.3.3. Cash Office/Section

The Cash Office/Section is headed by a Cashier III or Section Chief (when by
designation) who coordinates and supervises the cashiering activities of the University. This
Office is concerned with the following activities/functions: 1) Checking accounts, 2) Collection
and disbursement, and 3) Safekeeping of money and financial records. Specifically, the cashier
has the following functions:
4.3.3.1. Takes charge of the collection and deposit of tuition fees and miscellaneous fee;
4.3.3.2. Deposits all collections and income to the authorized bank;
4.3.3.3. Prepares checks on approved payments and issues checks to claimants;
4.3.3.4. Prepares and submits collection and deposit and disbursement reports for management and
other government agencies; and

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IFSU Code