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Department of Finance and Accounts

Managing the Council's financial resources through effective budgeting, fund management, and financial reporting

Leadership

Mrs. Joy Eigege

Mrs. Joy Eigege

Head, Finance & Accounts

Department Overview

The Finance and Accounts Department is responsible for managing the Council's financial resources, encompassing budgeting, fund management, and financial reporting.

Duties and Responsibilities

The summary of the duties and responsibilities of the Department includes, but is not limited to, the following:

  • Implementation of the relevant provisions of the TRCN ACT 31 OF 1993 CAP T.3 OF 2004 with respect to the establishment, maintenance, management, and control of teachers fund and other resources
  • Establishment and maintenance of sound internal control systems
  • Developing instruments for the collection, recording, and reporting of financial transactions
  • Keeping proper books of accounts and records
  • Ensuring that the Council's annual financial statements are prepared as and when due
  • Putting in place measures for effective mobilization and generation of revenue for the council
  • Timely preparation and payment of staff emoluments and third-party payments
  • Effective preparation and coordination of council work plans, budgets, and defense of the same before the federal Ministry of Education and the National Assembly
  • Effective implementation, control, and judicious use of resources as approved in the work plan and budget

Department Divisions

Budget and Budgetary Control Division

  • Preparation of Council's annual budget estimates
  • Preparation of budget implementation and performance
  • Computation and Compilation of Sales Commission for Stakeholders
  • Preparation of Bank Reconciliation Statements
  • Compilation of the Financial Report from the state offices

Fund Management Division

  • Preparation of staff monthly salary
  • Preparation/release of Local Purchase Order (LPO)
  • Implementing staff annual variation/promotions
  • Computation of disengagement allowances
  • Initiating payment
  • Preparation of cash book
  • Raising of job orders

Other Charges Division

  • Handling of retirement of cash advances
  • Retirements of states and liaison offices imprest
  • Retirements of fuelling imprest
  • Retirements of departmental imprest
  • End-of-year closure of all imprest
  • Maintaining of advance registers and ledgers on a daily basis
  • Ensures monies are expended for the purpose they were meant for

Final Accounts Division

  • Preparation of Council's IPSAS Accrual Basis General-Purpose Financial Statement (GPFS)
  • Preparation of General Teachers Fund's Ledger
  • Preparation of Teachers Fund Trial balance
  • Keeping of Council's Assets Register
  • Keeping and maintaining of TSA vote book
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