TREASURY AND Finance MANAGEMENT Services

General Functions

The treasury and finance management services isresponsible to formulate and implement financial strategies and optimize the utilization of the university’s financial resources through the implementation of appropriate financial systems that ensures timely production of financial information and compliance to university’s reporting standards as well as country’s statutory requirements (Tax Laws and Directives) and International Financial Reporting Standards (IFRS) compliance.

The department is led by the Director and has three sections which are led by the managers under the supervision of the department’s Director. The department’s sections are classified as follows:

1. General Accounts: the core function of this section is collection and disbursement.
2. Data Analysis: the core function of this section is data encoding and analysis.
3. Management Accounts: the core function of this section is budget and reporting.

This Financial and Accounting Policies Manual (Book I) is designed to serve as guidance to management and employees on subjects related to terms and conditions of finance and accounting procedures and practices of Unity University and it works in tandem with:-

• Book II : Budget Manual
• Book III: The Finance and Accounting Procedure Manual, and
• Book IV: Attest Plan for Authorization of Signatories

 Major Duties and Responsibilities of the Department

• Plans, organizes, directs and coordinates the financial operations in the University.
• Develops and maintains financial records in accordance with International Financial Reporting Standards (IFRS) and country’s legal requirements.
• Preparation of budgets and relevant financial reports.
• Engaged in the collections, deposits and disbursements of all payments.
• Encode and analyze all processed transactions in time.
• Focused on cost reduction practices.
• Initiates and maintains proper internal control system to ensure the safe custody of the University’s funds and property’s.
• Developing appropriate financial policies and manuals.
• Reviews costs to compare with approved budget and examines variances to establish causes.
• Assists the top management in evaluating new areas of expansion and establishing new businesses.
• Gathers relevant and timely data for compilation, analysis and preparation of reports for management consideration.