Finance & Corporate Affairs

What is the Finance Division?
The Finance Division oversees all transactions and revenues from MIMRA’s various fisheries activities that involved funds and/or money(s) in payment for  Fishing Days (Vessel Day Scheme), Fishing Rights, and Boat Licenses (may it either Purse Seiners or Longlines) and Transshipments. Any other finance activities are monitored and recorded to the last centavo. The Finance Division is also responsible in maintaining appropriate financial records and supporting documentation of all transactions to meet external audit requirements. As for the daily activity(s) of the Finance/Accounting personnel, processing of check for payment various vendors is number one; invoicing for all fisheries activities as mentioned above; collection activities; reconciliation of accounts (bank recon specifically is done monthly); cash flow analysis is done every now and then to monitor cash flows (could be incoming and outgoing).    Monitoring and quarterly fiscal resource analysis (as need be) are maintained to uphold financial transparency within MIMRA.

Additionally, The Finance Division is responsible for the preparation of short term annual planning and/or budget, budget policies, guidelines and timetable in accordance with the Agency’s (MIMRA) requirement for administration and operation. The Finance Division currently has four (4) staff at the Finance Division at the MIMRA HQ: 1.) Chief Accountant who is also concurrently the Corporate Service Division (CSD) Chief, 2.) Deputy Division Chief/Account Receivable Accountant (A/R), 3.) Accounts Payable (A/P) Accountant and 4.) Accounting Assistant II.  The Finance Division also has two (2) accounting personnel in Majuro Fish Market and one (1) personnel at the Ebeye Fish Market, all which report directly to the Fish Market Manager.

Reportorial requirement by the RepMar government, such as MISSA contribution and Withholding tax remittance, is done at the Finance Division.

This image for Image Layouts addon
Kwajalein Atoll Fish Market Center
For more information about MIMRA's financial operations, read the latest annual report here.
For further details, contact:
Saturnino M. Acibo
Graceleen Beio
Senior Accountant
Resta Kattil
Assistant Chief-CSD
Nerrisa Kotton
Staff Accountant