BRIEF HISTORY OF THE DEPARTMENT`
At the take-over of the former State Hospital in 1993 by the Federal Government, Finance & Accounts did not exist as a full-fledged department, it is like an Almoner’s office where patients came in to pay for drugs, laboratory services and registration fees among others. As a result, the first subvention for the hospital were deposited in a dedicated account in the State Ministry of Health from where payments were made in accordance with the directive of the Management. After a short while, the Management was directed to move its accounts to Federal Pay Office Abeokuta, pending the granting of a self-accounting status by the Office of the Accountant General of the Federation.
In November, 1993, Mr. Olabode, Bola David (FCA) was employed as a Chief Accountant and the first Head of the Department (1993 – 1994) to help in setting up an Account Department but did not fully take-off until February, 1994 when the following sections were established:
- Salaries and Wages
- Central Pay Office
- Other Charges
During that time, the department had only 8 members of staff made up of the Chief Accountant, Senior Accountant, Accounting Assistant and 5 clerical staffs. The status quo remained until December, 1994 when a new Head of Account in person of Mr. Adeleke, Emmanuel Adegboyega (FCA) was appointed following the resignation of the former Chief Accountant.
Mr. Adeleke, Emmanuel Adegboyega (FCA) was the Head of Department from December 1994 until his statutory retirement in October 2011 as the Director of Finance & Accounts. During that time as the Head, the Department was further developed with increase in the number of staff to 122 staff members and 12 Units.
After the retirement of Mr. Adeleke, Mr. Oguntoye Festus Adedayo (FCA) took over the headship of the department in line with the civil service bureaucracy until his retirement in July 2021.
The current Head of the Department is Mrs. Aramide, Josephine Funmilayo (FCA) who took over from Mr. Oguntoye from July 2021 till date.
Over the years, the Department has undergone a lot of growth both in size, functions and staff numerical strength.
Also, there have been series of transformation and re-alignment of duties and functions for efficiency and productivity of the department for the overall goal of the Institution as one of the leading Health Institution in the country.
As at now, the department has 268 staff members within 4 divisions and 17 units as detailed below:
Our Division and Units
- Expenditure Unit
- Treasury Unit
- Budget Unit
- Salary Unit
- Final Account Unit
- Fixed Asset Unit
- Tax Management Unit
- Credit Advance Control Unit (CACU)
- Revenue Unit
- National Health Insurance Authority (NHIA) Unit
- Debt Recovery and Assessment Unit (DRAU)
- Reconciliation Unit
- Imprest Unit
- Payable Unit
- Management Information and Query Unit (MIQ)
- Revolving Funds Monitoring Unit (RFM)
- Checking and Quality Control Unit (CQC)
Our Functions
Finance & Accounts department is one of the major departments in the hospital. The department is responsible for the handling of all financial transactions and preparation of reports for the purpose of management decision making. Other functions of the Department also include:
- Electronic and Manual collection of money from patients and the issuance of official receipts as appropriate.
- Preparation and submission of monthly returns of revenue received.
- Classification and lodgement of all monies collected into the revenue bank accounts.
- Preparation of payment vouchers for all contract supplies, constructions, maintenance etc. after proper authorization.
- Posting of all receipts and payments made by the Centre into various cash books.
- Monthly computation of staff salaries, allowances and processing of other claims.
- Preparation of monthly salary payments journal for final accounts posting.
- Maintenance of ledger in respect of all advances and retirement.
- Raising of relevant transfer vouchers on monthly basis to allocate payment and receipts.
- Posting of all direct bank subventions received into the vote book and cashbook.
Our Functions
- Ensures preservation of all vouchers and other security documents.
- Preparation of monthly bank reconciliation statements.
- Remittances of tax payable to the government accounts and liaises with the office of Federal Inland Revenue Service and State Board of Internal Revenue for issuance of tax certificates.
- Reconciliation of taxes payable on monthly basis.
- Preparation of quarterly and annual reports of financial position of the hospital.
- Preparation of yearly budget of the Hospital on Personnel cost, Capital cost and Overhead cost.
- Preparation and presentation of financial statements of the Hospital to the External Auditors for auditing.
- Updating of records of Patients’ Debt Profile.
- Involvement of Social Works Department in the management and securing of indigent patient’s debts for the Hospital.
- Preparation of trading account on all the Hospital Revolving Fund Accounts.
- Attending to all financially related issues as may be demanded periodically from the Federal Ministry of Health, Federal Ministry of Finance, Office of the Auditor General for the Federation and Office of the Accountant General of the Federation Abuja etc.
THE HEAD OF DEPARTMENT
MRS. ARAMIDE, JOSEPHINE FUNMILAYO (FCA)
Funmilayo Aramide is a distinguished accountant with expansive experience spanning over 30 years of accounting excellence.
Currently the Director of Finance & Accounts at the Federal Medical Centre, Abeokuta. She began her career at the Osun State Hospital Management Board and later moved to Federal Medical Centre, Abeokuta as Accountant II in 1997.
Differentiated by her outstanding commitment to duty, people management competencies, and integrity, she has since grown through the ranks. She was promoted to the post of Deputy Director in the Finance & Accounts Department in 2017, appointed as the Acting Head of the Department in 2021 and confirmed as the Head of the Department when she became a full-fledged Director in 2022.
Funmilayo holds a Higher National Diploma (HND) in Accounting from The Polytechnic, Ibadan, a Bachelor of Science (BSc) in Accounting from Olabisi Onabanjo University, Master of Business Administration (MBA) from University of Ado Ekiti, and several other accounting certifications, training and programmes. She became a chartered accountant in 2002 and a fellow of the prestigious Institute of Chartered Accountants of Nigeria (ICAN) in 2013.