The Finance Division is entrusted with the overall responsibility for financial control, management, and accountability of the Sri Lanka Tea Board. The Division ensures that the financial affairs of the Board are managed in accordance with applicable laws, regulations, financial policies, and established government procedures.
The Division is responsible for the formulation and implementation of financial policies and procedures of the Board, as well as the preparation of the Annual Budget in accordance with the financial requirements and operational priorities of the institution. It also undertakes the preparation of annual financial statements, monthly accounts, and periodic financial reports, ensuring the timely provision of accurate and reliable financial information to support effective decision-making and institutional management.
Furthermore, the Finance Division is responsible for the proper maintenance and control of the Board’s inventories and assets. This includes maintaining appropriate inventory records and conducting annual physical verification of inventories to ensure accuracy, accountability, and proper stewardship of public resources.
The Division also ensures the proper preparation, finalization, and timely submission of the annual accounts of the Sri Lanka Tea Board to the Auditor General, in compliance with the relevant financial regulations and statutory requirements.
The Finance Division is also responsible for overseeing all procurement activities of the Sri Lanka Tea Board through its Procurement Unit, which functions under the Finance Division. The Procurement Unit plays a vital role in ensuring that the goods, works, and services required by the Board are procured in a timely, transparent, efficient, and cost-effective manner, in accordance with applicable government procurement guidelines, financial regulations, and approved procedures. Through effective procurement planning and coordination, the Unit ensures the timely availability of necessary resources and requisites required for the smooth and uninterrupted operation of the Sri Lanka Tea Board.
Through the effective discharge of these responsibilities, the Finance Division contributes to ensuring financial discipline, transparency, accountability, prudent resource management, efficient procurement, value for money, and good governance within the Sri Lanka Tea Board.
