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Department of finance

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Auditing Section:

The Auditing section divided into two units :-

  • Auditing unit for individuals accounts
  • Auditing unit for companies & institutions accounts

 The Roles :-

                The section is responsible of auditing all documents and financial transactions submitted to finance Dep. To be paid such as the Univ. employees and students (salaries , overtime , allowances , monthly payments ….. etc) , and all financial transactions regarding the Univ. departments (purchases ….. etc) , also the section is responsible of auditing all payments orders regarding contractors payments against the contracts ( projects , rent , nutrition , running , maintenance , cleaning , transportation ….. etc)

 

Funds Allocation   Section:

 Main Tasks: -

- Preparation of  signed contracts on the financial system and the apply all  booking  operations on costing basis

- Conduct all operations relating the  amounts booking on  the  budget items through the initial booking for all  contracts  awarded to  all  institutions and companies  as well as for all imprests (both types)

- Releasing all initial booking operations then applying  the actual allocation

- Conduct all disbursement procedures of the university budget  items and  issuing the ministerial payment orders for all due amounts of the employees such as  salaries etc .. ,  also all contractors due amounts , and for  all institutions and companies due amounts  as well

-  Periodically  Following up the disbursement ratio  upon budget items

-  Request & apply all transfers upon the budget items

Treasury Section:


1-Receiving  all payment orders relating the university  employees ,  following up that  their own funds transferred into  the university accounts by the Ministry of Finance, and to be sure that it transferred to the accounts of eligible persons who involved in the  payment orders through the a transfer banking system , then submitting all payments orders after all dues amounts been paid to Accounts unit  to handle it


2- Receiving remittances regarding the university employees , transferring it  to eligible accounts also thru a transfer banking system, then also submitting all remittances to Accounts Unit

3-Monthly do a matching for Nutrition account (funding account)   and  dues amounts  account

4. Following-up the  the cash journal  book and preparing the reimbursement report for cash Nutrition account 

5- Achieving all inquires about different  accounts as needed

.6-Issue all cheques regarding some independent accounts , also  incase no beneficiaries accounts  exist , then submitting all such cheques

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7. Periodically checking all bank accounts , paying  and deposit .

  1. Following-up  payroll account to be sure that funds already transferred into such  accounts and to re-transfer all  salaries which haven’t  been deposited because of an error in the beneficiary accounts.
  2. Receiving all payment orders regarding all institutions, companies and contractors which are disbursed through ministerial cheques  and handing out those cheques  when  received from the Ministry of Finance to the beneficiaries and send all such payment  transactions to Accounts Unit to to handle it

Accounting Section : 

The accounting unit is responsible for  preparing all accounting entries and producing monthly reports , preparing  the final accounts  by computer , following is the main duties of the section :-

1- General Journal  Tasks :-

- Posting payment orders depending on its achievement date

- posting accounting adjustments regarding the custodies , revenues etc..

- monthly numbering and posting accounting entries

  -  preparing the  monthly trial balance

2-Monthly Reports :-

Preparing monthly balance report   -

Preparing a detailed revenues  report-

-Preparing a report for expenses , debit accounts , revenues and credit accounts

-Preparing detailed report showing all spending budget items

-Sending monthly reports to ministry of finance

3- Preparing Final Account :-

-  Stopping payments and closing all accounts based on finance instructions

-Perform all matching processes against banks and get balances approval certificates

- Achieve all matchings  with  ministry of finance

- preparing the final accounts   , following up and  preparing accounts auditing report 

- supplying all concerned parties with a copy of the final accounts after approved by accounts auditor

4- Other Tasks:-

-To be sure that all imprests , custodies have  been paid then closing it

- Recording advanced payments for contractors as liabilities for others , then reducing it as much as settled

- lowering bank guarantees as much as paid from the advanced payments

-  Do all necessary matching along with the public pension agency and social insurance

- paying  for different state  funds depending on the  borrowers employees deductions  (landed , agriculture , imprest and  saving)            

 

 Archiving  section:


  1. All payment transactions ( payment orders - remittances), as well as the adjusting entries should be entered (recorded) thru the financial computerized system and to be signed by the involved accountant

  2. A computer  statement is issued containing entries of all transactions after had been numbered  according to the journal

entry

  1. Monthly All transactions  (payment – adjusting ) submitted as well as a statement of transactions entries to archiving section

  2. The archiving  section matching the transactions against the entries statement then the journal entry number should be written on the involved transaction

  3. After  numbering process is done  all transactions (paper transactions ) are archived in  Cardex  system (a semi-automatic archiving system)


6-All  requests for any Archived transaction (paper one)  are  limited to the following parties : -


- General Auditing Bureau
-  Finance Department Manager
- Chartered accountant office in charge of reviewing   the university's   accounts then all transactions should be returned immediately upon completion