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From the commencement of the UGU in 1953, an “Accounting
Office” was established, without which accurate financial transactions and transparency
could not be achieved. Since then, this office has controlled and supervised all
of the UGU assets and financial resources, avenues and expenditure. This has been
done based on sound accounting principles and programs.
Over the years, the UGU has developed its activities and established
a number of educational institutions, such as the
UGU Primary School and the
UGU High School
. In addition, the successive Board of Directors has introduced various engineering
departments within PPU. In order to meet these increasing demands, the Accounting
Office has developed itself to become what is known as the “Financial Department.”
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This department
plays a crucial role in executing and monitoring all the financial and budgetary
operations for the UGU establishments and employees and making sure that these are
done accurately and in a timely manner. Specifically, it provides the UGU and the
administration of PPU with financial and budgetary services based on prudent fiscal
controls which adhere to policy implementation, accounting principles and procedures.
As the university has grown, many of the financial functions within the Financial
Department are completely computerized.
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Tasks and Activities:
The Financial
Department carryies out a number of tasks and activities, the most important of
which include the following:
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Controlling budget expenditures within the allocated amounts based on budget policies
and regulations and resolutions authorized by the UGU Board of Directors.
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Providing the UGU Board of Directors and the PPU administration, on periodical bases,
with reports to assist them in managing and directing financial operations.
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Interpreting and analyzing budgets and financial records to help the administration
in decision-making.
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Monitoring expenditures and ensuring that they adhere to well-established expenditure
policy guidelines and regulations.
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Handling cash in accordance with the policy and procedures outlined and adopted
by the administration. These procedures ensure that the accountability of cash receipts
and funds are monitored by regular audits.
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Training the financial personnel in the necessary aspects of budgeting, policies
and procedures.
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Assisting the administration in the development of the annual financial plan, taking
into account the effective use of the financial resources based on analysis of current
expenditures and interpreting income forecasts.
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Executing the updating of position for all employees within funding guidelines.
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Processing payments and maintaining students account balances at PPU and UGU schools.
Tuition payment is completed in adherence with the university’s regulations and
policies. Financially illegible students are not allowed to register for classes.
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