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Government Accounts Sector

The Government Accounts Sector, carries out its role with the highest levels of precision, professionalism, and meets all of its financial obligations in a swift and timely manner in accordance with the established standards of performance. The Sector is committed to implementing the most advanced financial system and accounting mechanisms, in addition to carrying out all of its financial and administrative operations electronically.


The Sector also aims to standardize the financial policy applications and accounting systems in all government entities. This is in order to increase the levels of disclosure and transparency in the financial reports and final accounts in accordance with DoF’s strategic plan.

The main tasks of the Sector include following up with the collection of the general revenues and securing their remission to the treasury, disbursing public expenditures, managing accounts outside the budget such as loans, deposits, insurance, receivable and payable accounts, public debt and contributions to the capital of companies.

The Sector also oversees Governmental holdings such as fixed assets and warehouse materials, as well as manages military retirement affairs and compensations. TheSector also manages general cash flow and ensures that there is necessary liquidity, and then invests the surplus. It also develops financial reports, closes accounts and prepares the final account of the Emirate’s that is in accordance with the applicable financial legislations and the adopted accounting policies and standards. In addition to this, the Sector contributes to the preparation of financial legislation and follows-up with their updates and provides consultancy in all other matters related to the financial sector.

The Government Accounts Sector is headed by Mr. Safwan Obaid, who is assisted by a number of DoF Directorates and Sections,

The Government Accounts Sector consists of the following Directorate and sections:

Treasury

General Accounts
 
Financial Control Division

Pensions Section

Systems Development & Accounting Services Section


Treasury

The main tasks of the Treasury include; the planning of financial resources, securing the necessary liquidity to finance public expenditure, in addition to meeting all financial obligations in accordance with the provisions prescribed in the budget or the resolutions issued by the competent authority. The Treasury Directorate manages short- and long-term cash flows; in addition to investing surplus cash to secure the best treasury revenues. This section is responsible for opening and managing government accounts at banks in various currencies. It also prepares settlement statements and monthly reconciliations; also securing the settlement of cash loans. It also plans and coordinates public debt activities in local and foreign markets and uses its tools to finance economic development projects and infrastructure projects.

Treasury consists of the following sections:
Cash Management Section
Cash Flows Auditing Section
Public Debt Office

Public Accounts Directorate

Public Accounts Directorate works on developing, updating and monitoring the implementation of all financial transactions pertaining to the central accounts. It also follows up with the daily operations to ensure the accuracy of data entry to electronic financial systems. The Directorate identifies weaknesses, proposes required amendments and develops appropriate accounting procedures to ensure the improvement of the financial performance, the quality of auditing and financial control. It secures getting the technical updates to improve its services to the customers; achieving by this the strategic objectives of DoF. The Directorate’s tasks include checking the appropriate recording of income, public expenditures, loans accounts, loans, grants, aids, investments, fixed assets and inventory. The Directorate also ensures that the accounting restrictions and settlements have been organized. It also secures the completion and balance of the general ledger’s records and revisions to prepare periodic reports, annual final accounts.

The Directorate retains all files and documentation supporting financial transactions.

The Public Accounts Directorate consists of the following sections:
Public Accounts Section
Operations and Account’s control Section
Shares and Loans Section

Financial Control Directorate

The Financial Control Directorate is responsible for controlling financial resources and checks the completion of financial and accounting operations in accordance with the laws, rules, regulations and accounting standards currently in force in the Emirate of Abu Dhabi. It also contributes to the development of the government’s accounting system through updating procedures related to financial and accounting operations. Its main tasks include monitoring the exchange rules of current and capital expenditure, projects of annual course for the development of salaries and wages, bonuses, promotions and termination indemnities. It follows up with the collection and monitoring of government revenues; in addition to checking the remittance of money to the parties concerned and depositing these funds in the bank accounts of government. It also monitors the implementation of the financial obligations associated with the government departments in accordance with approbations. It also reviews the related contracts and keeps banking bonds and refunds them after the end of their purpose.

The Financial Control Directorate consists of the following sections:
Auditing Section
Salaries Section
Approbations & External Offices Section

Pension Section

The Pension Section prepares pensions with high accuracy based on a set of procedures and documentation ensuring timely payment to the beneficiaries in accordance with the policy of the Department of Finance relating to this. The section follows-up on all procedures relating to the pensions of retired military personnel and their beneficiaries by reviewing the details of pension and making the necessary adjustments and modifications to the data. The pensions section undertakes an annual follow up on the maturity of retirees’ pensions and their beneficiaries in accordance with the annual statements and cooperation with the competent authorities. This section also develops systems to raise the level of services provided to retirees; securing at the same time the continuous communication with retirees to help them learn their rights and their obligations. It prepares data pertaining to the banking accounts of the beneficiaries to ensure money transfer according to the financial allocations, in addition to preparing and updating files and records to ensure that they contain all the documents and information required.

Systems Development & Accounting Services Section

The Systems Development & Accounting Services Section, develops, maintains and manages electronic data and related reports in accordance to the needs of users. This section also manages all electronic financial systems relating to the general ledger, payments, and salaries, fixed assets, procurements, warehousing and projects. It conducts audits and periodic reviews for the automated financial system to verify the accuracy of the procedures established and create the necessary reports to inform the management about the performance level of these systems; in addition to informing the management of any changes affecting the work environment.
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