The Finance Directorate is responsible for preparing the University’s annual budget estimates, keeping all financial records of the University, production of periodic budgetary control reports, and preparation of annual statutory financial accounts. The Director who serves as the Chief Accounting Officer of the University is also responsible for the keeping of records of donor-funded projects, students‟ financial records, fixed asset records, and management of stores, and the production of reports on these. The Directorate also provides services to support the academic mandate of the University such as the provision of financial reports and financial sustainability reports for accreditation of academic programmes. The Director of Finance is responsible to the Vice-Chancellor for the financial administration of the University per the relevant provisions of national laws including the Public Financial Management Act, 2016 (Act 921), the Internal Audit Agency Act, 2003 (Act 658), the Audit Service Act, 2000 (Act 584), the Public Procurement Act, 2003 (Act 663), the Public Procurement (Amendment) Act, 2016 (Act 914) and further enactments and amendments thereto as well as national rules, instructions and other regulatory instructions issued to clarify these enactments.
The Directorate fulfills its responsibilities through the Treasury & Hostel Financial Management Section, Payroll & Management Accounting Section, and the Financial Accounting Section.
- Management and maintenance of the integrity of the finances of the University.
- Prepare periodic reports to the Council on the status of plans and projections necessary for the preparation of budgets for the succeeding years.
- preparation of the annual operating budget of the University.
- Responsible for the formulation and implementation of policies relating to accounting and financial control in the University.
- Be in charge of corporate planning involving budgeting and budgetary control and long term or strategic planning in respect of all the finances of the University.
- Act as liaison with Ministries, Departments and Agencies (MDAs) in respect of financial matters affecting the University.
- Call for and receive moneys due the University and make authorised payments on behalf of the University.
- Mobilize and advise on investment of funds for the University.
- Preparation and consolidation of final accounts and commenting on management reports of External Auditors.
- Oversee all accounting functions of all semi-autonomous bodies, self-accounting and income-generating units within the University.
- Ensure that proper records are kept of all University property, assets, inventory and valuables of every kind in a register;
- Report to the Finance Committee any case of failure to maintain the financial and other records of the University in the form required by the Council.
- Perform any other functions assigned by the Vice-Chancellor.