Finance Section

Mandate

The Finance section is the financial steward of UADA, ensuring that resources are managed effectively, transparently, and in alignment with the organization’s development objectives. Its core mandate is to provide sound financial planning ,resource allocation ,and reporting to support UADA’s mission of sustainable urban transformation in Kohat.

Responsibilities

        Financial Planning &                  Budgeting:
  • Develop annual budgets that align with UADA’s strategic goals and operational plans.
  • Forecast revenue and expenditure trends to inform financial decision-making.
  • Allocate resources across sections and projects based on priorities and needs.
  • Monitor budget performance and identify variances for corrective action.
        Financial Operations &              Accounting:
  • Manage day-to-day financial operations ,including accounts payable, accounts receivable, and payroll.
  • Maintain accurate and up-to-date financial records in compliance with accounting standards and regulations.
  • Prepare financial statements, reports ,and analyses for internal and external stake holders.
  • Over see cash flow management to ensure liquidity and financial
        Procurement and                         Contract Management:
  • Develop and implement procurement policies and procedures that ensure transparency, fairness, and value for money.
  • Oversee the procurement process for goods ,services ,and works ,including tendering, evaluation, and contract award.
  • Manage contracts with vendors and contractors, ensuring compliance with terms and conditions.
  • Monitor contract performance and resolve disputes in a timely and efficient manner.
         Financial Reporting and           Compliance:
  • Prepare regular financial reports for management ,the Board of Directors, and regulatory authorities.
  • Ensure compliance with   financial regulations, tax laws, and reporting requirements.
  • Conduct internal audits to assess the effectiveness of financial controls and identify areas for improvement.

Job Descriptions:

  • Director of Finance:      Provides overall leadership and strategic direction for the section. Oversees financial planning, budgeting, operations, and reporting.
  • Financial Analysts:      Conduct financial analysis, forecasting, and budgeting. Prepare financial reports and presentations.
  • Accountants:  Manage day-to-day financial operations, including accounts payable, accounts receivable, and payroll. Maintain financial records and prepare financial statements.
  • Procurement Officers:     Oversee the procurement process for goods, services, and works. Manage contracts with vendors and contractors.
  • Internal Auditors:           Conduct internal audits to assess the effectiveness of financial controls and compliance with regulations.
 
 

Key Performance Indicators (KPIs)

  • Budget Variance :    The difference between budgeted and actual expenditures.
  • Financial Reporting Time lines :    The time taken to prepare and submit financial reports.
  • Procurement Efficiency :      The average time taken to complete the procurement process.
  • Contract Compliance Rate :     The percentage of contracts that are compliant with terms and conditions.
  • Audit Findings :       The number and severity of audit findings related to financial management.