The Treasury division is the financial hub of the bursary department charged with the responsibilities of receipts and disbursements of funds in the university. The division is also charge with cash management and ensuring proper and timely financial records of the receipts and payments of government funds in line with federal government accounting practices, principles and procedures.
Head of Division: Mr. Emmanuel Ajah, ACA.
The main function of this division is accounting for the investment of funds in capital (long-term) projects otherwise known as capital budgeting and investment of functions in current (short-term) activities otherwise known as cash (working capital) budgeting. This division also prepare the university operational budget and well as the capital and recurrent budgets for input into the Federal Government appropriation act.
This division is charged with the responsibility of posting of transactions to the general ledger and financial reporting. Bank reconciliation and fixed assets and stores accounting functions also falls under this division. This unit also interfaces with the external auditors.
This division is responsible for Inspection of books and records of accounts in the bursary to ensure completeness and accuracy and ensuring that the records are promptly updated and ensure compliance with financial regulations. This division is designed to provide support services for the sourcing of external grants, endowments and donations to the University.
Head of Unit: Mr. Godfrey Friday Opuene
This division is responsible for pay rolling of staff, preparation of salary variations, vouchers and journals. The ICT support service in the bursary is also domiciled within this division.
Head of Division: Mr. Justin Tamaraudebaemi Gbe
The office of the special assistant assists the Bursar with the general administration and supervision of the Bursary. The specific areas of coverage include the supervision of the Confidential Secretary, Administration Support Staff, Clerical Staff, Security and Cleaners.
The Special Assistants also executes expediting assignments to ensure the prompt rendering of returns to various regulatory bodies such as the National Universities Commission, Federal Ministry of Education, Federal Ministry of Finance, and Budget Office of the Federation. Other are Office of the Accountant General of the Federation and Office of the Auditor General for the Federation, and the various committees of the National Legislative Assembly.
A manual has been developed to guide bursary staff in dealing with specific areas of bursary operations such as tax accounting, contributory pension schemes, budget and budgetary control. The development of the financial accounting manual of policy and procedures is currently being developed to further strengthen the effective of bursary staff on the job.