Previous Slide 1/3 Next

Financial Management Services Division


Vision


To maintain and sustain a highly dynamic, competent and morally upright workforce imbued with the highest degree of industry and professionalism working towards an efficient, effective and economical financial management service delivery by using state-of-the-art facilities responsive to the demands of the times.



Mission


To assist the University President through the Office of the Vice President for Administration, in the implementation of the University's thrusts and programs pursuant to its mandate, in accordance with applicable laws, the budgeting, accounting and auditing rules and regulations, as well as the existing internal financial procedures and policies of the University, towards fast and responsive service delivery.



Goals


  1. Provide a fully automated accounting and budgeting system for Bicol University that will facilitate the decision-making process at the middle and top management levels.
  2. Institutionalize some budget processes that shall establish responsibility and accountability of financial managers in the field pursuant to the directions set by the Comprehensive Development Plan.
  3. Provide for relevant enhancement trainings for the support staff that will not only have an impact on their assigned work but will allow them to improve their competencies and grow as complete professionals.

 

General Functions


FINANCIAL MANAGEMENT OFFICE

  1. Provides technical supervision over all the financial management programs of the University involving budgeting, accounting and cashiering.
  2. Recommends policies governing the financial management of the University.
  3. Designs system of procedures for an effective, efficient and economical financial operation of the University.
ACCOUNTING OFFICE
  1. Responsible for the recording of all financial transactions of the University.
  2. Pre-audits claims against the University.
  3. Maintains the books of accounts for the University.
  4. Prepares the trial balance and financial statements for the University and submits the same to regulating/monitoring agencies such as COA, DBM, CHED, Congress of the Philippines and other line agencies.
BUDGET OFFICE
  1. Receives and analyzes the budget proposals submitted by the Deans /Directors, if same are in accordance with the parameters set by DBM, the University and the Board of Regents.
  2. Prepares the University Budget on a year-to-year basis.
  3. Prepares the Consolidated Annual Projected Income and Expenditures for the approval of the Board of Regents.
  4. Prepares the Agency Budget Matrix (ABM) as basis for the release of appropriations from the national government. The ABM is the authority to incur or commit obligations.
  5. Prepares the Annual Cash Program as basis for the release of Notice of Cash Allocation (NCA). The NCA serves as the authority to pay obligations.
CASH OFFICE
  1. Responsible for the collection of BOR-authorized fees, charges and assessments from students, employees and outside clientele.
  2. Authorized to pay claims of creditors of the University.
  3. Renders regular periodic reporting of accountabilities to Accounting and COA.