Finance Office

General Information

The Finance Office is responsible for maintaining the Institute’s books of accounts and the preparation and interpretation of financial statements. The Accounting Director exercises overall supervision of the following sections of the Finance Office namely budget, purchasing, disbursements, general accounting, and student accounts sections.

Services

Budget Section

1. Review proposed budget submitted by Directors and prepare a master budget plan for submission to the Board.
2. Maintain records of the budgeted and actual revenue and expenses to determine performance of various departments/offices.
3. Determine whether requests are within the authorized budget.
4. Determine budget deviations and discuss corrective measures with departments.

General Accounting Section

1. Prepare trial balance and schedules.
2. Prepare financial statements.
3. Prepare bank reconciliations statements.
4. Record receipts.
5. Prepare monthly remittances to government authorities.

Students Accounts Section

1. Maintain records of individual students.
2. Issue examination permits.
3. Issue statement of accounts for refund.
4. Issue clearances for returning students.
5. Determine amount of refund.

Disbursements Section

1. Responsible for ensuring that all disbursements of college funds are in order and properly authorized, meaning they are properly documented, funded and approved.
2. Ensures that authorized suppliers receive the correct payment when they are due.
3. Prepare checks.
4. Release checks to authorize payee.

Purchasing Section

1. Responsible for the timely procurement and receiving of materials, goods, equipment and services.
2. Search for suppliers.
3. Negotiate the best price.
4. Procure the necessary materials, equipment, or suppliers adhering to the Institute’s purchasing policies and procedures.