Every organization has a department saddled with the responsibility of carrying out its Finance and Accounting functions. The Bursary Department of the University of Ilorin performs this crucial role.
THE FORMER BURSARS
|1.||Mr.I.A. Oyawoye. ACCA., ACA, ATII.||(August, 1976-July, 1980)|
|2.||Mr.I.A. Adeniran. F.C.C.A., A.C.A||(1983-February, 1985)|
|3.||Mr.O.O.Fajinmolu. ACA, ACIS.||(November, 1985-1995)|
|4.||Mr. J.O. Adewuyi. FCA, FCCA, FCIS.||(1995-2002)|
|5.||Mr. A. Sijuwola B.Sc., CNA (Acting)||(2001-2007)|
|6.||Mr. A. Sijuwola B.Sc., CNA||(2007-2013)|
|7.||Mr. A. S Yusuf B.Sc, ACTI, FCA||(2013-2018)|
THE CURENT BURSARY MANAGEMENT TEAM
|1.||Mr. O.H Sonde B.Sc, MBA, FCA||Busar|
|2.||Mr. A.A Ahmed B.Sc,LLB,MSc.,MBA,MNIM,ACTI,FCA||Deputy Bursar (Salaries, Loans & Advances)|
|3.||Mr. G. Olaniyan. HND, B.Sc., FCA,||Deputy Bursar (Budget, Expenditure Control & Stores)|
|4.||Mr. S.D. Gbadeyan B.Sc., MBA, FCA.||Deputy Bursar (Final Accounts & Faculties)|
|5.||Mr. S.O Ayanda. HND, B.Sc. FCA.||Deputy Bursar,(Treasury) Revenue Unit)|
|6.||Mr.S.E. Aliu HND, MBA, CNA.||Deputy Bursar, (Revenue & Investment)|
|7.||Mr. O. Abdulbarki B.Sc, ACA.||Deputy Bursar ( Institute of Education)|
|8.||Mr. A. Lawal B.Sc, MBA, CNA.||Deputy Bursar (College of Health Sciences)|
|9.||Mrs. J.B Adetayo.||Department’s Secretary|
The Bursary Department performs the financial and accounting functions of the University. It is headed by the University Bursar who is, by the University of Ilorin Act, the Chief Financial Officer of the University and is responsible to the Vice-Chancellor for the day-to-day administration and control of the financial matters of the University.
The Bursar who is the Chief Finance Officer of the University and a member of the Management of the University, ably assisted by Deputy Bursars who are the Unit heads. The Bursary Department is divided into the following Units.
|1||BUDGET, EXPENDITURE & STORES (BEST) UNIT|
|2||FINAL ACCOUNTS & FACULTIES (FAF) UNIT|
|3||REVENUE & INVESTMENT (R&I) UNIT|
|4||SALARIES, LOANS AND ADVANCES (SLA) UNIT|
Each of these Units is usually headed by a Deputy Bursar who is responsible for the overall management of the Unit.
As a Department with definite purpose and structure the scope, vision and mission of the Bursary are as stated below:
Basically, the Bursary is responsible for the financial management functions of the University. The scope of the financial management activities covers critical aspects of:
(i) Mobilization of resources i.e. funds
(ii) Allocation of funds to various activities in a way that will bring value addition to the University, hence consideration for economy, effectiveness and efficiency.
(iii) Accounting for spent funds
(iv) Timely preparation of the University’s Financial Statements and its prompt auditing.
In order to accomplish these functions, the Bursary maintains full accounting records of assets and liabilities as well as, income and expenditure of the University. It also prepares estimate of revenues and expenditure, both of a capital and recurrent nature within the Medium Term Expenditure Frame work (MTEF) as prescribed by the Fiscal Responsibility Act 2007 of the Federal Republic of Nigeria and in line with the University Strategic Plan. The Bursary equally prepares and maintains other accounting records, including ledgers, payroll and ancillary records. These functions are performed through the Bursar’s office and the other following Units: Final Accounts & Faculties (FAF) Unit, Revenue & Investment (R&I) Unit., Budget and Expenditure Control & Stores Unit (BEST), Salaries, Loans and Advances (SLA) Unit, Treasury (TU). Each Unit is headed by a Deputy Bursar (DB).
Vision of Bursary Department
To create an active, proactive and best ICT driven Finance Department poised to ensure that the University ranks amongst the first 50 universities in the world.
Mission of Bursary Department
To guarantee the University and its stakeholders the most efficient and effective way of resources mobilization, allocation and management, using appropriate information technology through the provision of excellent services.
FULL COMPUTERISATION OF BURSARY DEPARTMENT
The present Bursary is on the verge of full computerisation of its operations with the effect of operating on On-Line-Real-Time Processing System to enhance accurate, efficient and effective financial information management of the University.