Papua New Guinea Fisheries National Fisheries Authority, Papua New Guinea
Managing fisheries for the nation
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Coastal Fisheries Management and Development Project

Prawn BioEconomic Research Project

Rural Coastal Fisheries Development Project

HOME ABOUT NFA FINANCE

Finance

Finance is responsible for the management of the accounting and finance, risk management, payroll and asset management functions. This includes ensuring tight internal controls are in place to ensure only proper and approved use of all NFA funds and assets and that NFA meets all its statutory financial reporting obligations under the Fisheries Management Act 1998. Finance also provides managers with reliable, timely financial reports and information to facilitate good decision-making throughout the organisation.

The core functions of the Finance Group are:
  • Collecting, investing, disbursing and managing funds derived from NFA operations in accordance with NFA Policy & Legal requirements
  • Recording and reporting financial transaction to provide useful financial information for decision-making and control and to meet legal reporting requirements
  • Coordinating and assisting with preparation of the annual plan and budget
  • Ensuring compliance with statutory reporting requirements under the Fisheries Management Act
  • Calculating and paying salaries, allowances and deductions in accordance with contracts and remuneration policies
  • Managing the utilisation and stewardship of land, buildings, office furniture, vehicles, infrastructure and other assets owned or leased by NFA
Strategic goals for the Finance Group are:
  • providing timely and accurate management accounts to the Managing Director and group managers to assist with cost control and good decision making
  • working cooperatively with the Finance Department to ensure mutual understanding of each organisations requirements and statutory obligations are met on time
  • ensuring effective internal controls are in place and followed so that cash and other assets are secured and only authorized financial commitments liabilities are incurred
  • managing independent but transparent processes for tenders and approvals to reduce delay and increase responsiveness
  • resolving ownership of land, buildings and infrastructure by NFA, disposing non-core assets and fully utilising the rest
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