The Finance Department of the National Engineering Research and Development Centre (NERDC) is responsible for ensuring sound financial governance, accountability, transparency, and compliance with Government Financial Regulations, Circulars, and institutional policies. The department plays a strategic support role in institutional management by providing accurate, timely, and reliable financial information to facilitate effective decision-making, planning, and control.
The Finance Department comprises three main functional units, namely Finance, Procurement, and Stores, all operating under an integrated financial management framework to ensure efficiency, transparency, regulatory compliance, and optimal utilization of public resources.
While the department is not directly involved in the implementation of research & development or commercial projects, it provides essential financial oversight and analytical support. Key financial information such as monthly outstanding analysis, commercial & other projects financial performance analysis, customer advance payment monitoring, cash flow status, and budget utilization reports are regularly prepared and presented at management meetings to support informed managerial decisions.
The Procurement Unit, operating under the Finance Department, is responsible for coordinating procurement activities in compliance with Government Procurement Guidelines, including preparation of procurement plans, tender documentation, bid evaluation coordination, contract documentation, and procurement reporting.
The Stores Unit, also functioning under the Finance Department, is responsible for inventory management, receipt and issuance of goods, asset tagging, stock control, and maintenance of accurate inventory records, thereby ensuring effective material management and internal control.
Through strong internal controls, systematic reporting, and effective audit coordination, the Finance Department contributes significantly to the financial sustainability, governance standards, and operational efficiency of NERDC
Major Functions:
- Budget preparation, monitoring, and financial forecasting
- Financial accounting and statutory reporting
- Monthly financial performance analysis and management reporting
- Treasury and cash flow management
- Payroll and statutory deductions
- Financial oversight of procurement and stores operations
- Asset accounting and inventory control
- Financial compliance, audit coordination, and internal controls
Recognition & Achievements:
In recognition of its excellence in financial management, the Finance Department has received the Best Annual Reports & Accounts Award (Public Sector) from the Association of Public Finance Accountants of Sri Lanka (APFASL) in 2015 and 2017. These accolades reflect the Department’s commitment to maintaining high standards of accuracy, transparency, accountability, and compliance with applicable financial regulations and reporting frameworks.