Kisii University Finance

Kisii University Finance,

The mission of Finance Department is to maintain best practices in implementing sound and effective financial management practices in accordance with ISO 9001 International Standard.

QUALITY OBJECTIVES

Stewardship

To put in place and operate systems and procedures which safeguard the assets of the university and which processes transactions efficiently and cost-effectively.

These include the following functions:

Processing of Financial Transactions
Recording of Financial Transactions and
Maintenance of internal control procedures;

The Quality Objectives under Stewardship are as follows:

Processing of payment for supplier’s invoices on monthly basis subject to availability of funds
Processing payment of staff and student claims within four days subject to availability of funds
Processing payment for staff imprests within four days subject to availability of funds
Processing of payment to staff in respect of payroll and pensions on monthly basis
Increase collection of incomefrom all relevant sources by 10 % annually
Tax compliance immediately payment is made to suppliers and staff
Processing payment for insurance claims and cover within a month subject to availability of funds
Accounting for projects’ funds on annual basis or as need arises

Financial Planning

This involves:

Setting of annual financial targets for departments and the university as a whole (budgeting)
Provide financial information as may be required by the University management to guide in decision-making

Compliance

The finance department strives to do the following:

Ensure that external financial reporting and other regulations are met
Ensure 100 % compliance with statutory and other regulatory financial requirements
Ensure that budgetary levels are adhered to