ITIRE–IKATE LOCAL COUNCIL DEVELOPMENT AREA (LCDA)

Name: Mrs. Funlola Adebambo-Ogundare
Position: Council Treasurer / Head of Finance & Accounts Department

Joined the Lagos State Local Government Service Commission in December 1996.
Fellow member of the Institute of Chartered Accountant Nigeria (ICAN)
Associate Member of the Chartered Institute of Taxation Nigeria
Associate Member Nigeria Institute of Management
Master Business Administration MBA(Finance) Ogun State University
Bsc Accunting University of Lagos UNILAG
Higher National Diploma (Accountancy) YABA COLLEGE OF TECHNOLOGY.

 Financial Management & Oversight

• Responsible for the overall management and supervision of the LCDA’s financial resources.

• Ensures proper planning, control, and monitoring of income, expenditure, and financial operations.

• Oversees preparation of financial statements, monthly returns, and annual accounts.

Budget Preparation & Implementation

• Coordinates the preparation of the annual budget in collaboration with all departments.

• Provides the Executive Chairman, Council Manager, and legislative arm with financial forecasts and projections.

• Monitors implementation of the budget to ensure expenditures remain within approved limits.

Revenue Management

• Supervises and monitors all internally generated revenue (IGR) collection processes.

• Ensures proper banking of revenue, maintenance of revenue registers, and implementation of transparent revenue control measures.

• Develops strategies to improve revenue generation for the LCDA.

Expenditure Control & Payment Authorization

• Ensures that all payments conform to financial regulations, budgetary provisions, and due process requirements.

• Verifies supporting documents before authorizing disbursements.

• Maintains proper records of vouchers, payment schedules, and expenditure files.

Treasury Operations

• Manages cash flow, treasury balances, and financial obligations of the council.

• Ensures timely payment of salaries, pensions, allowances, and contractors’ claims.

• Maintains custody of accounting books, financial ledgers, and cash management tools.

Financial Advisory Role

• Serves as the chief financial adviser to the Executive Chairman and Council Management.

• Provides professional guidance on financial prudence, investment decisions, and fiscal policies.

• Offers financial inputs on contracts, procurement, and development projects.

Compliance & Internal Control

• Ensures compliance with Lagos State financial regulations, audit instructions, and treasury circulars.

• Establishes internal control mechanisms to prevent fraud, misappropriation, and financial irregularities.

• Prepares and supports internal and external audit exercises.

Procurement & Contract Financial Documentation

• Works closely with the Procurement Unit to ensure financial compliance during tendering, bidding, and contract award processes.

• Verifies contract certificates, payment claims, and project financial reports.

Asset & Records Management

• Maintains accurate records of council financial assets, bank accounts, investments, and liabilities.

• Ensures proper documentation, safekeeping, and retrieval of financial documents.

 Coordination & Supervision of Finance Department Staff

• Supervises accountants, revenue officers, cashiers, and financial clerks.

• Organizes training, assigns duties, and ensures high professional standards within the department.

Reporting & Communication

• Prepares periodic financial reports for management, the legislature, and relevant state agencies.

• Ensures timely submission of statutory financial returns.

Representation & Collaboration

• Represents the LCDA in financial meetings, state treasury sessions, revenue planning committees, and inter-departmental finance discussions.

• Collaborates with banks, auditors, consultants, and revenue partners.

Summary Statement

As the Council Treasurer of Itire–Ikate LCDA, Mrs. Funlola  Adebambo-Ogundare plays a central role in financial stewardship, ensuring accountability, transparency, and effective management of the council’s financial resources to support sustainable development within the LCDA.