"Getting to know more: Finance Section"

When we hear the word Finance, the first thing that comes into our mind is money. Yes, indeed it is true. However, in an organization, its functions are truly more than that.

The finance section is primarily responsible for the financial matters of an organization. All planning, budgeting, managing, recording, and reporting expenses are the things that this section focuses on.

I learned how the Finance section of Sta Rosa City Police Station works. In the PNP organization, each station is given a budget allocated for maintenance and other operating expenses. All funds that the station receives are being liquidated, recorded, and utilized properly.

Upon our discussion with the personnel assigned in the Finance department, I have learned the best practices that the Sta Rosa CPS observes:

• safekeeping and daily recording of Maintenance and Other Operating Expenses (MOOE)

• keeping of Cash Book of Regular Accountable Officers

• immediate photocopying of all receipts from the expenses of the station

• all funds ( such as MOOE, etc.) given to the station are being sent thru an ATM card

On the other hand, I also learned the difficulties that this section encounters. Submission of their liquidation to higher headquarters would be difficult to comply if the other sections would submit their After Activity Reports late. For instance, the PCAD section conducts an activity that needed a certain amount of expenses. The Finance is the one that makes the liquidation that includes the expenses spent in that activity. If the PCAD submits the report late to Finance, they could not liquidate it immediately.

During our conversation with the Finance PNCO, I discovered that the different sources of funds of the station are the following: Maintenance and Other Operating Expenses (MOOE), ELCAC, PADS (Philippine Anti-Drug Strategy), National Police Clearance, and support of the Local Government Unit.

Indeed, this section holds a huge responsibility in an organization. A business or an organization cannot operate if there is no money. Hence, if it doesn’t do its job well, surely, the organization will face difficulties in achieving its goals.