FINANCE DIVISION

At the inception when the NBRO was attached to the State Engineering Corporation (SEC) the day to day activities of the Division were partly handled by the accountants of the SEC.

At the time the NBRO accounts were amalgamated with the SEC accounts.

In August 1988 a Head recruited to the Division.  Thereafter it functioned as an independent Unit of the NBRO and the balance and the annual accounts were prepared at the NBRO.

In 1989, the NBRO was brought under the Ministry of Policy Planning and Implementation under the purview of the Urban Development Authority (UDA) for all administrative purposes.  During this time the balance sheet and the annual accounts of the NBRO were forwarded to the UDA.

The Finance Division plays a supportive role and its involvement at the NBRO can be classified as general accounting of receipts and payment, preparation and monthly and annual accounts, preparation of annual budget and monitoring of expenditure, payments of emoluments to staff, payments to contractors and suppliers, cash flow analysis and cash management etc.

It is noteworthy that most of the above mentioned activities have now been computerized making financial management more effective an efficient.

DIVISIONAL OBJECTIVES

1. Financial Control
2. Operative within the approved annual budget
3. Render the annual accountants and the balance sheet to the Auditor General
4. Pay-staff emoluments, suppliers/contractors and utilities
5. Reply to Audit Queries.

DIVISIONAL STRATEGIES

1. Application of budgetary controls
2. Application of standard accounting practices and policies
3. Application of approved procedures and regulations
4. Application of monitoring strategies.