SinhalaSriLankaTamilSriLanka

Accounts Division

Motto of Financial Division

Implementation and maintaining a proper financial management (transaction) method in order to fulfill all the objectives of the Co-operative Development Department.

Consolidated Fund

Objectives,

  • Submission of financial reports before due dates.
  • Reducing the time by streamlining the payment procedure.
  • Utilization of 100% of annual budget provisions
  • Reducing the number of audit queries received by the Ministry by 50%.
  • Reducing errors and omissions by 100%.
  • Ensuring existence and protection of assets through a computerized system.

Duties

  • Preparing financial plans and budgetary control.
  • Implementation of financial policies according to provisions of state financial law circulars.
  • Carrying out activities related to purchasing, maintaining and protecting assets.
  • Preparation and submission of annual financial reports, management reports and performance reports.
  • Payment in connection with recurrent and capital expenditure.
  • Maintaining the public officers’ advance B account within the relevant limits and submission of annual reconciliation reports.
  • Streamlining the processes relevant to financial activities and preparation of data systems, manuals, Checklist and Standard Formats
  • Preparation of procurement plans of the year.
  • All activities related to payments
  • Conducting Board of surveys
  • Directing audit queries.
  • Preparing financial statements.

Core values

  • Efficiency + Productivity
  • Sense of team
  • Respecting customers
  • Openness and transparency
  • 100% Accuracy

Financial Reporting

  • Preparation of annual budget estimates
  • Appropriation account and preparation of the account based on actual basis
  • Preparation of annual performance report and report of annual accounts of the Ministry
  • Preparation of the annual accounts on revenue of public building rent of income head 20.02.01.01 and submission to the Auditor General, submission of outstanding revenue reports bi annually, preparation of revenue estimates, supervision of collection of housing rent
  • Giving answers to audit queries and dealing with queries of Public Accounts Committee Updating and maintenance of fixed asset documents
  • Supervision of financial activities and Sri Lanka Institute of Development Administrative
  • Activities the register of damages and write offs  

Main functions of the Consolidated Fund

  • Preparation of budget estimates.
  • Preparation of monthly expenditure reports.
  • Taking action to obtain additional provisions.
  • Preparation of annual appropriation account and reporting to the Auditor General
  • Maintenance of expenditure ledgers and preparation of monthly progress reports.
  • Shroff duties and crediting all the money, received correctly to the relevant 3 Accounts and comparing with bank reports.
  • Activities of sending pension files to the relevant Divisional Secretariats by certifying the accuracy of payments of officials who go on retirement  
  • Providing details regarding recovery of contribution for pension.
  • Preparing answers for all the audit queries and reporting to the Auditor General.
  • Accepting all cash received by the government and issuing invoices.
  • Taking actions to purchase all necessary office equipment, stationery and issue them to the relevant divisions.
  • Making arrangements to prepare official stamps. ‍
  • Calling quotations regarding supply of services.
  • Appointment of tender boards
  • Preparation bank reconciliation statement and monthly comparison with cash book
  • Preparing salaries
  • Writing and mailing cheese to relevant institutes.
  • Taking action to pay salary increments and salary arrears.
  • Providing salary details                                                                                                                                          
  • Payments of office and housing mobile phone bills
  • Payment for internet bills, rates, payments for cleaning services, maintenance of Department
  • Checking and payments of election vouchers.          
  • taking action to pay transport expenses, maintain overtime schedules, checking vouchers and make payments. 
  • Keeping “B’’ ledger of advance up to date.
  • Payment of loan advances, settlement of loans and preparation of replies relevant to Audit queries. 
  • Preparation of “B” account of annual advance and reporting to the Auditor General. 
  • Making arrangements to conduct annual board of survey.   
  • Making arrangements to auction and destroy the scraps.    
  • Maintaining the General Deposit Account, Court Fines Deposit Account.
  • Payment for requisition.
  • Transferring the stamp taxes to the Commissioner, Inland Revenue quarterly.
  • Submission of report to the Committee on Public Accounts
  • Giving assistance to fulfill the activities of Road Map – 2020. 

Co-operative Development Fund

Establishment of the Fund 

  • The Fund has been established under the set of orders No. 10086 imposed by the Hon. Minister of Food and Co-operatives under section 46 of Chapter (10) of the Co-operative Ordinance and published in the government gazette dated 24.03.1950.
  • 10% of the annual net profit or a sum not less than  Rs . 5/- should be contributed annually to the Co-operative Fund on annual financial statements subject to audit in a registered society according to 43 (i) of the Co-operative Act No. 05 of 1972 and 43 (ii) of the set or rules published in the gazette No. 93/5 dated 10th January, 1974. 

Administration

The Fund should be administered by the Registrar subject to any general or specisl provisions of the Minister of the Subject in terms of section 43(I) of the set of rules of the Co-operative Fund and the money of the Fund can be utilized under the following matters.   

 Objectives

  • Co-operative education, activities of expansion and promotion Improving managerial efficiency of Co-operative societies.
  • Supporting Co-operative societies.

Co-operative Surplus Fund

Establishment of the Fund

This fund has been established in terms of the provisions stipulated in 57(3) in the Co-operative Act No. 5 of 1972 and this Co-operative Surplus Fund is financed by utilizing the surplus for which any creditor of a liquidated society has not claimed for his rights under the scheme of dividing assets as mentioned from 44(i) to 44(iii) in the gazette extraordinary No. 93/5 dated 10th January, 1974.

Administration

 Subject to the administration of the Co-operative Societies, the amount credited to the Surplus Fund under the administration of the Co-operative Society Registrar can be utilized for the subject matters of the Act.

 Objectives

  • By purchasing shares of any registered primary society or assisting such a union in any other manner required by the Registrar.
  • Providing assistance to purchase any fixed assets for any registered society in the district where surplus has been created
  • Helping liquidator to act in his freedom of action in a civil trial against a liquidator.
  • Helping other institutions established to assist the registered Co-operative societies.
  •  

Main functions of Co-operative Development fund and Co-operative Surplus Fund

  • Preparation of budget estimates relevant to Co-operative development fund and Co-operative surplus fund.
  • Preparation of final account statements relevant to Co-operative Development Fund and Co-operative Surplus Fund and reporting to the Auditor General
  • Providing loans to Co-operative society and federations.
  • Preparation of replies for audit queries.
  • Preparation of monthly progress reports.
  • Investment of surplus money in fixed deposits.
  • Preparation of bank reconciliation statements and checking accuracy by comparing with departmental books.
  • Preparation of monthly financial summaries.
  • Updating active loan files and inactive loan files.
  • Issuing balance certificates, providing reports of loan recovery.
  • Assisting to fulfill the activities of strategic plan Road Map – 2020.   

  


For more information,

Mr. E.M.N.R. Bandara
Accountant
Telephone - +94 11 2430263 (Ext-214)
Mobile - +94 71 4452661
Fax - +94 11 2430263

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