Role of the Directorate of Finance

The Directorate is entrusted with the responsibility of ensuring:

1. Financial statements and reports are timely and accurately developed and maintained appropriately for the users in accordance with Generally Accepted Accounting Principles (GAAP);
2. Internal financial Policies and Procedures are developed and implemented;
3. Prudence and integrity in Hospital Financial Management;
4. Financial Accounting Systems for Cash Management, Accounts Payable, Accounts Receivables, Budgetary Control etc are developed and maintained;
5. Cash flow forecast is prepared and maintained as appropriate;
6. Bookkeeping function including maintenance of General ledger, Accounts Payable, Accounts Receivable and Payroll;
7. Development and implementation of policies and procedures to ensure that personnel and financial information is secure and stored appropriately;
8. Implementation of MTRH Strategy through Annual Work Plans.
9. Implementation of section policies and Quality Management Systems (QMS).
   

Key Officers in the Directorate

1. Director Finance
2. Finance Manager
3. Deputy Finance Manager
4. Chief Accountant

Operational Staff

1. Senior Accountants
2. Accountants I & II
3. Accounts Assistants
4. Accounts Clerks

Operational Units/Sections

The sections are headed by either Senior Accountants or Accountants I

1. Revenue

Some of the functions of the section include;

1. Receiving payments from clients, issuing Hospital official receipts for all payments for all services rendered;
2. Posting all the transactions in the cash register;
3. Verification and certification of receipts;
4. Identification and implementation of controls necessary for efficient service delivery with minimum waiting time;
5. Preparation of revenue service analysis for the month;
6. Accounting and surrender of all funds collected;

1. Billing    

Functions     

1. Preparation, examination and analysis of billing records to assess accuracy, completeness and conformance to reporting and procedural standards;
2. Invoicing and maintenance of sale reports
3. Provision of primary data to be used by the Hospital’s financial statements,
4. Preparation of monthly billing reports.

1. Expenditure

Key Functions

1. Execute the expenditure process observing all the internal controls;
2. Preparation of monthly expenditure reports;
3. Provision of primary data to be used by the hospital’s financial statements

1. Cash Office

Key Functions

1. Maintain all cashbooks;
2. Payment of fully processed payment vouchers;
3. Proper filing of accounting documents and custodian of fully paid payment vouchers;
4. Daily reconciliation of cash received against cash banked;
5. Ensure statutory deductions are duly submitted;
6. Production of cash flow statements;
7. Banking agent for the hospital on day to day banking activities and identification of controls that ensure efficient service delivery in the cash office.

1. Budgetary Control

Key Functions

1. Planning the Hospital Annual Budget in line with the Ministry directives;
2. Monitor, Control and Report Annual Budget implementation.
3. Preparation of monthly Budgetary Performance Reports;
4. Provision of primary data to be used by the hospital’s financial statements.      

1. Imprest

Key Functions

1. Receive and check imprest documents for completeness and accuracy;
2. Ensure accurate and timely imprest documents processing;
3. Post imprest surrender documents in imprest analysis book;
4. Prepare, update and maintain imprest ledger accounts in accordance with the laid down rules and regulations;
5. Analysis of imprest expenditure according to stipulated expenditure codes.
6. Preparation of monthly Imprest reports;
7. Preparation of recovery schedules as per stipulated hospital policy.

1. Creditors

Key Functions

1. Receive and check supplier invoices for its documentation, completeness and accuracy;
2. Ensure accurate and timely Creditors documents processing;
3. Posting of supplier documents in daily purchases daybook;
4. Prepare, update and maintain supplier ledger balances in accordance with the laid down rules and regulations;
5. Ensure safe custody of supplier documents awaiting payment after processing;
6. 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;
7. Preparation of monthly Creditors reports.

1. NHIF     

Key Functions

1. Clearance and discharge of NHIF patients;
2. Facilitate pre-authorization of pre-authorized NHIF services;
3. Submission of NHIF claims to Eldoret NHIF Branch;
4. Follow up on payments for submitted claims;
5. Reconciliation of submitted against paid NHIF claims.

1. Credit Control

Key Functions

1. Preparation of debtors account statements and follow up for payments;
2. Vetting corporate clients to find out if their membership is authentic;
3. Dispatch of invoices to corporate clients;
4. Handling of pre-authorization for in-patients and out-patients for different services;
5. Preparation of monthly reports on debt status;
6. Provision of primary data to be used in preparation of hospital’s financial statementFinal Accounts          

Key Functions

1. Preparation and report of Annual Financial Statements;
2. Prepare monthly trial balance;
3. Maintaining established chart of accounts;
4. Collecting, analyzing and summarizing account information and trends;
5. Assembling information for external auditors for annual audit;
6. Maintaining an orderly accounting filing system;
7. Tracking the compilation project costs into fixed asset accounts and close out those accounts once the related projects have been completed;
8. Balancing general ledger by preparing a trial balance and reconciling entries;
9. Updating the detailed schedule of fixed assets and accumulated depreciation;
10. Prepare monthly reconciliation of all bank accounts;
11. Verification of payment vouchers to ensure accuracy and conformation to policies and procedures.