Efforts of the Chairman, Ondo State Oil Producing Areas Development Commission OSOPADEC, Elder Sam Erejuwa to promote probity, transparency and proficiency in tandem with international best practice was on Monday 29th August, 2022 intensified with the test running of the Financial reporting system.
The Financial Reporting System is an application specially designed to manage financial transactions and effortlessly access information on financial expenditure.
At the event, Erejuwa stressed the importance of the initiative, especially in a technological driven world.
According to him, “one of my visions for OSOPADEC is to computerize the system. The benefits are enormous. It allows judicious management of resources and easy access to information on our expenditures”.
“No doubt, when we start using this application, it will meet our demands and make official tasks easier and faster. The staff of the various departments will be adequately trained on how to use the application. Under my watch, OSOPADEC will be made better, and after my tenure, I want to look back on what we have accomplished and be happy”.
While showcasing the features of the application, CEO of Kuramo OAK Enterprise, the facilitator and software developer, Mr. Adesola Kudehinbu, stressed the tremendous benefits of the app, and how the shift from an analogue system to digital will promote efficiency and prudent expenditure in the Commission through the digital management of financial transactions.
According to Mr. Kudehinbu, the application is designed in different segments to suit the various Departments in the Commission and their activities relating to financial transactions.
Amongst the basic areas on the dashboard is the contract segment which gives detailed descriptions and locations of contracts awarded, the company, date of award, duration of the contract, the total sum and amount paid in instalments.
There is also the Payment Voucher (PV) which captures the particulars of creditors and the details of payments. Others include: Capital Expenditure, Revenue, Projects (ongoing and completed), Recurrent Expenditure, Salary and Scholarship.While providing answers to some of the questions raised by core management staff of the Commission, the programmer gave assurance of the flexibility of the application to accommodate other complimentary applications, stressing that the property belongs to the Commission upon delivery.
In his closing remark, the Secretary of the Commission, Dr. Victor Koledoye applauded the Chairman for the initiative which he said will promote transparency, probity and accountability in the Commission. He express satisfaction in the capacity of the application to ease administrative bottlenecks, and tasked the programmer on improvement when and where required.
Present at the exhibition were the Directors; Barrister Bayo Ololajulo (Administration and Supplies), Mr. Frank Menukuro (Budget, Planning, Research and Statistics), Pastor Vincent Ikuomola (Accounts) and Mr. Wale Mafolabomi (Community Welfare).
Others include staff of the Department of Accounts, Budget, ICT, Audit, Information and Protocol.