Directorate of Finance

THE DIRECTORATE OF FINANCE

The Directorate of Finance is an integral part of the Technical University Administration with the responsibility of accounting for the flow of funds, the institution and maintenance of adequate records and controls on behalf of the Governing Council and seeks to facilitate the management and maintenance of integrity in the utilization of the University’s resources.

THE DIRECTOR OF FINANCE
The Director of Finance is the Head of the Directorate of Finance and is appointed by the University’s Council. He reports to the Vice-Chancellor. He submits periodic reports to the Council on the status of plans and projections necessary for the preparation of budget for succeeding years through the Registrar to Council for review and approval.

The Directorate, among other things focuses on:

• Implementing policies relating to accounting and financial control in the University in accordance with The Technical Universities Act, 2016 (Act 922), the Harmonized Statutes, applicable accounting standards and all other Regulations approved by the University as well as relevant national laws and regulations.
• Corporate planning with respect to budgetary control and long-term strategic planning with regards to all finances of the University.
• Calling for and receiving moneys due to University and make on behalf of the University the authorized payments
• Ensuring that throughout the University, proper books of accounts and records of the property of the University are kept in a manner and form required by Council
• Reporting to the Finance Committee in case of failure to maintain the financial and other records of the University in the form required by the Council
• Preparing consolidated accounts of the University
• Having oversight responsibility for the accounting functions of all the semi-autonomous
• bodies, self – accounting and income- generating units of the University;
• Ensuring that the University complies with the Public Financial Management Act, 2016 (Act 921, all related Financial Management Laws and Regulations.

The Directorate of Finance has five Departments

• Budget and Management Accounting Reporting
• Projects
• Treasury Management
• Payroll
• Financial Reporting

The Financial Reporting unit co-ordinates the preparation of the Technical University’s annual financial report.

The Management Accounting unit co-ordinates the preparation of annual budget, and monitors budget and actual spending.

The Treasury section maintains students’ records relating to billing and payment of fees, and generally responsible for monitoring revenues.

The Payroll section facilitates the payment of staff salaries and other remunerations.