Finance & Accounting
FUNCTIONS
Finance and Accounts as a unit of the Directorate of Finance and Management Services is responsible for all the financial administration of the Gambia Revenue Authority. This unit is headed by the Deputy Director of Finance and Accounting who supervises the overall activities of the unit and reports directly to the Director of Finance and Management Services and is supported by the Finance and Accounting Manager and the Senior Finance and Accounting Officer. Specifically, the unit deals with matters regarding the Authority’s expenditure, collection and accounting of Government tax revenues and revenues for the financing of the Authority’s operations and the administration of the procurement processes of the Authority.
The key functions that the unit undertakes dealing with various responsibilities are as follows;
i. Expenditure Management Functions
-Coordinate the preparation of the Authority’s annual budget which is activities-based budgeting;
-The process of payments in accordance with the approved budget;
-Monthly reconciliation of the transactions of the Authority’s Operational Account with the Central Bank of the Gambia (CBG);
-Process all necessary Virement for the Authority;
-Prepare the Authority’s Annual Financial Statements;
-Manage the Treasury of the Authority.
The payment processing for the expenditure of the Authority is done using the IFMIS computerized accounting software called the EPICOR with roles segregated among staff of the unit depending on the level of responsibilities. Specifically, functions like fund allocation, voucher preparation and approval, Virement and printing of financial report using the system. To effectively handle the expenditure matters, the Authority has a designated Officer who is assisted by some Officers.
ii. Payroll Management Functions
Although, payroll processing and administration is a function within expenditure, it is handled separately from other payments and uses separate software called NASNET which is linked to the EPICOR system. The processing of staff monthly salary is fully computerised using the NASNET system and starts with the necessary adjustment of salary inputs, importation of journals and vouchers and finally followed approvals before printing of cheques. The payroll matters are handled by the Payroll Officer who is supported by a Sub-Officer
Like all other systems, the Authority has delegated the responsibility of managing the system (Software) to a particular Officer who assigns staff with different roles on the system for control purpose.
- iii. Revenue Collection and Accounting
In addition to the above functions, the Finance and Accounts Unit of the Authority is responsible for the direct collection, banking and accounting of all taxes assessed by the Departments of Customs and Excise and Domestic Taxes. Besides, the unit receives revenue in the form of subventions, rent receipts proceeds from sale of Tax Identification Number (TIN) certificates and bid documents.
The receipting and banking of revenues are usually done by Cashiers at various GRA Offices and the reconciliations are carried out by Officers. While the tax revenues are deposited directly into the two revenue collection accounts at the Central Bank of the Gambia (CBG), that of the others are lodged into the operational account of the Authority with the CBG.
The key functions regarding the revenue collection and accounting are thus:-
-Receiving payments in the form of cash and cheque from tax payers and issuing of receipts.
-Daily balancing of all tax revenues collected and banking of all the revenue collected the following day
-Undertake periodic examination of revenue collection.
-Administer the issuing of receipt books supplied to Cashiers and also to Border Post Officers and Tax Officers in GRA Offices without Cashiers.
-Preparation of daily and monthly Management Report on total revenue collections by tax codes.
- iv. Procurement Functions
The Authority also has procurement officers who directly liaise with various Head of Units or Departments to process request for the procurement of goods or services. The procurement officers use different modes of procurement which involves competitive bidding, restricted tender, quotation and single sourcing. The procurement unit ensures that each request for Procurement is backed-up by a budget for expenditure before initiating the process. The procurement officers also ensure that the procurement processes they handle comply with rules and regulations of the Gambia Public Procurement Authority (GPPC).
As a means of strengthening the procurement process of the Authority for large contracts, the Authority has setup a Contracts Committee to execute the process of large procurements.