The responsibilities of the department is as outlined below:
1. Financial Operations
· Processing of tuition fee charges, invoicing and postings
· Receipts of revenue and debt management
· Payment and reconciliation of supplier accounts
· Purchase order systems and outstanding liabilities
· Payment of claims
2. Payroll Processing
· Payment of salaries and wages including statutory deductions
· Preparation of returns to Kenya Revenue Authority (KRA), National Hospital Insurance Fund (NHIF), National Social Security Fund (NSSF) and University of Nairobi Pensions Scheme Payroll ledgers reconciliation
· Issuance of pay-slips and P9 advices as required
3. Treasury Management
· Processing all cash transactions, maintain bank accounts and cash balances
· Investing funds on secure deposits at competitive rates of return
· Cash Flow management and forecasting
· Bank reconciliations
4. Financial Reporting
· Production of annual statutory accounts
· Production of monthly and quarterly management accounts
· Providing financial reports to donors and other fund providers
· Attend promptly to audit queries and reports
5. Financial Planning
· Prepare business and strategic plans and quantify deliverables
· Budgeting and cashflow forecasting.
6. Management Accounting
· Regular reports on financial performance including budget variances and forecast
· Recommendation and advice to ensure budgets and plans are achieved
7. Financial Compliance
· Setting the regulatory financial framework for the University in accordance with IFRSs and statutory requirements
· Ensuring compliance to the University of Nairobi Act and Financial Regulations
· Satisfying the Auditors and external regulators (e.g. KRA, CHE, NHIF, RBA, PPOA)
8. Risk Management
· Adopting a solid risk based approach to finance to deliver long term sustainability.
· Instituting controls over University resources.
The following organizations among others partner with the University of Nairobi to finance needy students and bright students:
· Higher Education Loans Board (HELB),
Ministry of Higher Education, Science
Research and donor funds are managed and accounted for in accordance with the terms of the memoranda of understanding signed with various donor agencies.
The expenditure is per the approved university budget. Finance department ensures that the expenditure is within the approved budget and that the core functions are well financed.
University finance department researches and advices on appropriate investment opportunities in line with the government guidelines.
The department is charged with the following responsibilities within the university:
Collection and Accounting of Students Fees
The Department is charged with the responsibility of students' fees collection and accounting for the same.
Government-Sponsored Undergraduate Students
These are government sponsored students admitted through Joint Admission Board. They pay directly for the following; however, students are advised to have Kshs 9,000 and Kshs18, 000 to cater for books and catering respectively per year.
Accommodation 7,000.00 Per Year
The above fees are paid directly to the respective university college bank account depending on the degree programme that the student is admitted to. The respective bank accounts are as follows:
· College of Health Sciences, BBK Hurlingham Branch
A/C No. 03/045/1039385
· College of Agri. & Veterinary Sciences BBK Barclay Plaza
A/C No. 03/077/5053984.
· College of Architecture & Engineering BBK Barclay Plaza
A/C No. 03/077/5053941.
· College of Humanities & Social Sciences BBK Westlands Plaza
A/C No. 03/073/1100217.
· College of Education and External Studies BBK Barclays Plaza
A/C No. 03/077/5053917.
· College of Biological and Physical Sciences BBK Barclay Plaza
A/C No. 03/073/1100187.
Self-Sponsored and Post Graduate Students Application fees
For students interested in applying for a course at the university, application forms are available upon depositing Kshs 3,000 or US$ 50 for Kenyan and others respectively. This is paid through CESSP application account No. 2032770838 at BBK Plaza Branch and CESSP USD A/C No. 2032770625 at BBK Barclays Plaza Branch, Loita Street. The other application details in respect to academic requirements are available at various schools /faculties/institutes.
Tuition and other fees
For these categories of students' fees payable vary from one degree programme to another. The differentiated fees structures are available at various schools, faculties and institutes. Currently, these fees are collected by Center for Self-Sponsored Programmes on behalf of the University of Nairobi through UON CESSP Collection Account at BBK Plaza Branch, Account 2032771362 (for fees only).
Students Management Information System (SMIS)
The following information regarding students' fees may be accessed directly by the student through StudentsManagement Information System (SMIS) which is available on the university student portal (http://smis.uonbi.ac.ke):
· Student course registration,
· Student fees pro forma invoices,
· Student fees statements,
· Student clearance certificate, etc