Introduction

The Bursary is the Department of the University charged with the main responsibility of managing the financial resources of the institution. The Department is under the headship of the Bursar, who is the Chief Financial Officer of the University and is responsible to the Vice-Chancellor for the day-to-day administration and control of the financial affairs of the University.

Vision

To be Centre of Excellence in Financial Management in the Nigerian University System.

Mission

To deploy and train staff of the Bursary Department on how to apply state of the art financial management tools and technology for effective reporting, service delivery and decision making.

Functions

1. Establishment and maintenance of good internal control system in order to safeguard the University’s Assets and Liabilities;
2. Establishment and maintenance of proper books of accounts and records for the University’s financial transactions;
3. Preparation, allocation and control of the University Annual Budget for effective management of the University’s Resources;
4. Ensuring that all the Grants and Internally Generated Revenue of the University are properly accounted for in the manner prescribed by the extant financial rules and regulations;
5. Ensuring that all books of accounts are properly maintained;
6. Ensuring that the financial statements of the University are properly prepared and presented for auditing within three months after the end of each financial year;
7. Insurance and Fund Management;
8. Providing relevant information on financial matters to assist management in decision-making; and
9. Ensuring due diligence as regards all financial matters.

Structure

The Bursary Department has recently undergone significant transformation and restructuring, in order to strengthen and position it for better performance. The Department is made up of the Bursar’s Office and Fifteen (15) functional units as follows:

1. Budget & Financial Planning
2. Budget Implementation & Control
3. Bill & Capital Expenditure
4. College Finances
5. Payment Systems
6. Payroll & Personnel Entitlements
7. Fixed Assets & Insurance
8. Personal Accounts
9. University Enterprises & Profits Centres
10. Treasury
11. Financial Statement & External Audit
12. Taxes & Statutory Deductions
13. Stores
14. Archives
15. Electronic Data Processing