Division Objectives

To plan, manage, monitor and report the use of UIS’s financial resources to ensure they are handled efficiently, optimally and with integrity, in compliance with applicable accounting/financial policies, regulations and procedures.

Division Functions

BUDGET & CASH CONTROL SECTION

• Provide annual budget allocations for approval by Board of Directors.

• Distribute budget allocations to each Responsible Centre.

• Control expenses according to approved budget allocation and ensure all financial obligations of the university college comply with financial policies (TKP).

• Process transfers / additional allocations (virements) upon receiving requests from a Responsible Centre.

• Prepare monthly allocation transfer reports for management approval and quarterly reports for JKTK approval.

• Prepare budget reports for related meetings.

• Prepare documentation of investments and money transfers between bank accounts.

• Manage the placement of UIS investments based on the approval of the Investment, Loan and Trust Fund Committee Meeting.

• Manage the processes of advances, payments and contributions for academic development programmes.

CORPORATE ACCOUNTS & FINANCE SECTION

• Prepare weekly cash flow reports.

• Prepare the Annual Financial Statements.

• Prepare and update monthly Financial Reports and ensure the reports are updated.

• Prepare monthly bank reconciliation statements.

• Manage the company’s audit and taxation processes.

• Manage and monitor petty cash funds.