BOUESTI BURSARY DEPARTMENT

BOUESTI Bursary is saddled with the functional responsibilities of keeping financial records, managing the University’s financial resources, and rendering financial services in line with best practices and procedures.  This is done through the efficient application of accounting principles.

The Bursary Department is saddled with financial and accounting functions. It is headed by a Bursar who is the Chief Financial Officer of the University. His main duties include advising the Vice-Chancellor on the day-to-day administration and control of the University’s funds, formulating financial policies, and preparing budget and budgetary controls to safeguard the university’s financial resources.

The Department is endowed with qualified Accountants with Mr. Babatunde Abioye Apata as Bursar. He was appointed as pioneer Bursar of this great institution on January 6, 2021.  The Department has a staff strength of 74 out of which six are Deputy Bursars.

THE VISION

To make Bursary Department of our university a foremost and preferred one driven by professional excellence, productive service to humanity and innovation for the needs of the 21st century and beyond, providing top of the range innovative financial services powered by professional excellence.

THE MISSION

The department is to provide effective and sound financial management framework that will recognize the core values of financial integrity, Accuracy, Transparency, Accountability, due process and Ethical culture of producing prompt as well as providing satisfactory services to humanity and innovation for the needs of our technological world.

OBJECTIVES OF THE BURSARY DEPARTMENT

  1. Ensuring compliance with due process as stipulated by extant laws and regulations guiding the University from time to time;
  2. Ensuring all University funds are collected into the appropriate fund heads intended and ensuring timely disbursement of funds for the purpose for which they are approved;
  3. Ensuring that the University management complies strictly with government financial policies and regulations in the day-to-day financial administration of the University;
  4. Ensuring the preparation of the final yearly accounts to show the financial statements of how the various grants from the government and other Internally Generated Revenue are being accounted for;
  5. Preparing annual budget for approval, once approved ensure compliance and implementation to ensure budget limits are not exceeded; and
  6. The mandate to put in place adequate internal control system and check that safeguards the University assets and liabilities.

ACTIVITIES BEING CARRIED OUT BY THE BURSARY DEPARTMENT

  1. Keeping records to comply with statutory and other financial requirements;
  2. Interpreting, operating, and maintaining the accounting system of the University;
  3. Providing timely, accurate, and reliable information for management to assist in controlling various financial activities of the University on a day-to-day basis;
  4. Providing a suitable financial framework for planning future activities by means of budget; and
  5. Preparing the University financial statement.

LIST OF DIVISIONS AND UNITS UNDER BURSARY DEPARTMENT

S/N DIVISIONS UNITS
1 Management Services
  • Budget Administration
  • Expenditure control
  • Loan and Advances
  • Creditors and TETFund
2 Salaries, Pension, and Advances
  • Payroll
  • Programming Unit
  • Pension and Gratuity
3 Treasury Services
  • Revenue
  • Cash office
  • Reconciliation
  • Investment
4 Self-Accounting Programmes
  • Staff School
  • Demonstration Secondary School
  • Affiliate Programmes
  • Part-Time Programmes
5 University Support Ventures
  • Reconciliation
  • Multi–Biz Enterprises
6 Accounting Services
  • General Ledger
  • Fixed Assets and Risk Management
7 Students Services
  • NCE Students Programme
  • UNN Degree Students Programme
8 BOUESTI, Regular Students’ Accounts (BRS)
  • General University Students Programme of Colleges
9 Central Stores (CS)
  • Stationery Stores
  • Maintenance Stores
  • Medical Stores
  • Stores Ledger
10 Bursar’s Office
  • General superintendence of the department