Payment to the recipients, recovery of unused or misused amounts of funds, financial verification and evaluation of expenditures, as well as accounting and reporting functions with its designated sections are the main responsibilities of Finance Department. Finance Department has 4 different departments with different responsibilities.
Payment and Recovery Management
As the Payment and Recovery Management Section under the Finance Department, the related payment transactions and their organization, recovery transactions and their follow-up, and audit and legal parts under the responsibility of the Finance Department are carried out within the scope of the contracts for which CFCU is the Contracting Authority.
The accounting function for the transactions of the CFCU related to the EU financial assistance and co-financing is performed by the Accounting section. In addition, bank letters of guarantee and VAT Information Form transactions regarding the contracts are also carried out by the Accounting section.
Financial Reporting Section is responsible for the financial reporting of the programs carried out by the CFCU. While ensuring the functionality of an appropriate reporting system, it also manages the fund flow of the Programs by tracking the funds of the programs under the responsibility of the CFCU and making fund requests to the relevant accounts when needed.
Financial Management of Projects
The Financial Management of Projects section provides financial guidance to contractors and beneficiaries to obtain maximum benefit from the funds contracted by our Unit. The Department also carries out financial monitoring activities during the implementation of the projects to minimize possible ineligible expenditures. In addition, it is responsible for all financial verifications and determination of payable and recovery amounts.