Role of the Directorate of Finance
The Directorate is entrusted with the responsibility of ensuring:
- Financial statements and reports are timely and accurately developed and maintained appropriately for the users in accordance with Generally Accepted Accounting Principles (GAAP);
- Internal financial Policies and Procedures are developed and implemented;
- Prudence and integrity in Hospital Financial Management;
- Financial Accounting Systems for Cash Management, Accounts Payable, Accounts Receivables, Budgetary Control etc are developed and maintained;
- Cash flow forecast is prepared and maintained as appropriate;
- Bookkeeping function including maintenance of General ledger, Accounts Payable, Accounts Receivable and Payroll;
- Development and implementation of policies and procedures to ensure that personnel and financial information is secure and stored appropriately;
- Implementation of MTRH Strategy through Annual Work Plans.
- Implementation of section policies and Quality Management Systems (QMS).
Key Officers in the Directorate
- Director Finance
- Finance Manager
- Deputy Finance Manager
- Chief Accountant
- Senior Accountants
- Accountants I & II
- Accounts Assistants
- Accounts Clerks
The sections are headed by either Senior Accountants or Accountants I
Some of the functions of the section include;
- Receiving payments from clients, issuing Hospital official receipts for all payments for all services rendered;
- Posting all the transactions in the cash register;
- Verification and certification of receipts;
- Identification and implementation of controls necessary for efficient service delivery with minimum waiting time;
- Preparation of revenue service analysis for the month;
- Accounting and surrender of all funds collected;
- Preparation, examination and analysis of billing records to assess accuracy, completeness and conformance to reporting and procedural standards;
- Invoicing and maintenance of sale reports
- Provision of primary data to be used by the Hospital’s financial statements,
- Preparation of monthly billing reports.
- Execute the expenditure process observing all the internal controls;
- Preparation of monthly expenditure reports;
- Provision of primary data to be used by the hospital’s financial statements
- Cash Office
- Maintain all cashbooks;
- Payment of fully processed payment vouchers;
- Proper filing of accounting documents and custodian of fully paid payment vouchers;
- Daily reconciliation of cash received against cash banked;
- Ensure statutory deductions are duly submitted;
- Production of cash flow statements;
- Banking agent for the hospital on day to day banking activities and identification of controls that ensure efficient service delivery in the cash office.
- Budgetary Control
- Planning the Hospital Annual Budget in line with the Ministry directives;
- Monitor, Control and Report Annual Budget implementation.
- Preparation of monthly Budgetary Performance Reports;
- Provision of primary data to be used by the hospital’s financial statements.
- Receive and check imprest documents for completeness and accuracy;
- Ensure accurate and timely imprest documents processing;
- Post imprest surrender documents in imprest analysis book;
- Prepare, update and maintain imprest ledger accounts in accordance with the laid down rules and regulations;
- Analysis of imprest expenditure according to stipulated expenditure codes.
- Preparation of monthly Imprest reports;
- Preparation of recovery schedules as per stipulated hospital policy.
- Receive and check supplier invoices for its documentation, completeness and accuracy;
- Ensure accurate and timely Creditors documents processing;
- Posting of supplier documents in daily purchases daybook;
- Prepare, update and maintain supplier ledger balances in accordance with the laid down rules and regulations;
- Ensure safe custody of supplier documents awaiting payment after processing;
- Provision of primary data to be used in preparation of hospital’s financial statements and Preparation of supplier payment proposals as stipulated in the hospital’s Credit Policy;
- Preparation of monthly Creditors reports.
- Clearance and discharge of NHIF patients;
- Facilitate pre-authorization of pre-authorized NHIF services;
- Submission of NHIF claims to Eldoret NHIF Branch;
- Follow up on payments for submitted claims;
- Reconciliation of submitted against paid NHIF claims.
- Credit Control
- Preparation of debtors account statements and follow up for payments;
- Vetting corporate clients to find out if their membership is authentic;
- Dispatch of invoices to corporate clients;
- Handling of pre-authorization for in-patients and out-patients for different services;
- Preparation of monthly reports on debt status;
- Provision of primary data to be used in preparation of hospital’s financial statement
- Preparation and report of Annual Financial Statements;
- Prepare monthly trial balance;
- Maintaining established chart of accounts;
- Collecting, analyzing and summarizing account information and trends;
- Assembling information for external auditors for annual audit;
- Maintaining an orderly accounting filing system;
- Tracking the compilation project costs into fixed asset accounts and close out those accounts once the related projects have been completed;
- Balancing general ledger by preparing a trial balance and reconciling entries;
- Updating the detailed schedule of fixed assets and accumulated depreciation;
- Prepare monthly reconciliation of all bank accounts;
- Verification of payment vouchers to ensure accuracy and conformation to policies and procedures.