Department of Financial Affairs

About the department

The responsibility of the department is the planning and organization of all financial   and accounting matters, to spend the approved funds, the preparation of the unified trial balance, the preparation of final accounts and estimated balance and distributing it after approval, watching allocations, the execution of accounting part of national development projects plan as set in the investment agenda, the preparation of projects proposals for the annual plan, equipping formations with all supplies, secure  storage of  materials,  collecting state money, and liquidation of advances in accordance with laws in power.

Objectives

There are objectives to be achieved through the implementation of the current budget, including:

A- Providing all goods and service requirements of fixed assets and to overcome all the difficulties of Colleges and departments of the university presidency for raising the scientific level of teaching staffs and students through theoretical lectures and laboratories hours, training courses and participation in conferences and symposia.

B. Participation in laying plans to ensure the achievement of the long and short term goals of the university.

C. Submit reports that help senior management to make appropriate decisions through the statistics and this is known as administration by exclusion.  

D. Identify deviations after implementation of the plan and to assist senior management to identify appropriate actions to address and correct them

 The Financial Affairs Department consists of four sections, namely:

1. The Current Budget section (planning)

This unit carries out all the works of current budget right from the compensation of employees (the salaries and allowances), commodity and service expenditures, expenses related to fixed assets, and receiving some revenues. All this is done on fiscal basis, i.e.,  adoption of the principles of governmental accounting rather than accrual basis in order to maintain the public funds and the achievement of non-material goals. This is being done through the drawn plans  and specific instructions that require work along with   administrative levels responsible for their implementation. As how to plan for this budget, there is a reliance on some the indicators, including:

. 1The planned budget for the past year.

 .2 The approved budget for the past year.

 .3 Already achieved part during the first six months of the current year.

 After approval by the Ministry of Finance implementation is carried  through the expenditure on the sections and articles of this budget in accordance with the regulations of implementing the federal budget issued annually by the ministry of finance. Thus, expenditure is done by following the criteria listed below:  

1. There is a real need to spend.

2. To ensure the availability of the financial allocation before making any commitment or pledge.

 3. Obtaining the legal approval for expenditure in accordance with the granted financial powers.

  Investment Budget Section

This section carries the expenditure on the projects in accordance with the regulations and directions of the implementation of the federal budget issued by the Ministry of Finance and the instructions of the Ministry of Planning and implementation of governmental contracts, No. 1 of 2008 and all amendments issued in accordance with the general contracting conditions for its first and second of civil and mechanical work. The method of disbursement followed in these projects is based on the same principles observed in the current budget

Warehouses Section

It undertakes all the work of storage receiving and discharging, maintaining and control of the stored materials, both consumable and fixed. It also registers fixed holdings when discharges for beneficiaries (colleges, departments, and affiliates)for the sake of protecting public funds. This section uses forms and bills for receiving and store discharge in such a way as to follow the official procedures in power.

   Records Section

The work of the unit is to manage and monitor the accounting cycle upon which the Finance department is mainly to monitor and review all the disbursement processes    starting from the record of adjusting entries and disbursement documents, and then expenditure record , general daily log, and consolidating record. In addition, there is also revenue records and monitoring records.

It is also in charge of issuing the bulletin of expenditure, revenues,   balance review for each month, and the final bulletin for the final expenditure, revenues, and balance review after the end of the fiscal year.

The responsibilities and powers of the director of the department

The Director of the department exercises the following powers and responsibilities to ensure the flow of work in the department:

1.    The distribution of tasks among the staff of the department 

2.    Granting routine leaves permissions that do not exceed 10 days and the approval of the sick leave.

3.    Recommending the applications for more than 10 days routine and sick leaves and study leave

4.  Supervising the performance of the work in the follow-up of the activities of the employees

5. Recommending disciplinary proceedings against the negligent employees.

6. Recommending commendation and appreciation of distinguished and creative employees.

7. Recommending granting department employees promotion and upgrading bonus

8. Recommending appointment, placement of staff, and dispensation of department affiliates according to the rules in power

9. Proposing that the employees in the department be assigned overtime work according to the laws and regulations of the organization.

10. Representing the department in relevant conferences and symposia

11. The distribution of tasks and responsibilities among the staff members of the department to help   develop and improve the performance of the work as specified.

12. Recommending the delegation of staff members inside the country for a period not exceeding one week.

13. Recommending the granting of various allocations to all staff members of the department

14. Evaluation of the performance of the staff of the department and submitting it to the relevant authorities.

15. The proposal of a temporary appointment of employees in the department to gap staff shortage to ensure work flow.

16. Recommending the fixation of the staff members of the department after completion of approbation period

17. Recommending the assignment of a staff member to be an acting head of department when in routine and sick leave or when delegated.

18. Any other responsibilities and powers authorized or granted by immediate superiors

Department Staff