Bursary Operation 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
5	TREASURY UNIT

A. BUDGET, EXPENDITURE CONTROL & STORES (BEST) UNIT
The Budget, Expenditure and Stores (BEST) Unit of Bursary department is made up of three (3) Sub- Units. Namely:-
i. The Budget Sub-Unit
ii. The Expenditure Control Sub-Unit; and
iii. The Bursary Stores sub-unit

1. The Budget Sub-Unit is saddled with the responsibilities of :
   a. Provision of periodic information on the budget of University
   b. Preparation of annual estimates to the National Universities Commission (NUC), in conjunction with the Academic Planning Unit
   c. Participation in the preparation and monitoring of the University Annual Recurrent Budget in conjunction with the Academic Planning Unit
   d. Preparation of monthly and annual reports on capital projects being financed by TETFUND, NEEDS ASSESSMENT and IGR.
   e. Opening of New Vote Books at the beginning of every year for all the Departments, Units and Centres.
   f. Monitoring of Faculties, Departments, Centres and Units votes to ensure that there is no extra budgetary spending
   g. Commitment of spending into the relevant vote books, such as: Administrative and General Expenditure, General Academic Expenditure, General Maintenance Cost and Finance and Management Cost; and
   h. Preparation of monthly returns on commitment/expenditure for the use by the department.
   i. Preparation of Budget Performance for use by the Management and Governing Council.
   j. Preparation and Issuance of imprest journal vouchers to various Departments, Units and Centres at the beginning of every new year
   k. Processing of retirement of Imprest received from various Departments, Units and Centres at the end of financial year.
2. The Expenditure control sub-unit is saddled with the responsibilities of:
   a. Processing of claims/payments due to individual staff and corporate entities for services rendered and supplies made to the University by way of raising appropriate payment vouchers
   b. Processing of Advance Payment Guarantee (APG) brought to the University by Contractors
   c. Issuance of letter of Discharge of Advance Payment Guarantee (APG) to Contractors that have fully executed the awarded contract.
   d. Maintenance of records of all payments made
   e. Liaising with all the relevant tax agencies such as KWIRS and FIRS
   f. Monitoring of all payments made to various suppliers and contractors.
   g. Carryout the stock taking exercise at the end of the year.
   h. Issuance of Bank domiciliation letters to various contractors / suppliers
   i. Keeping of records of all the deducted WHT, VAT and STAMP DUTY from the payments made to various Contractors
3. The Bursary Stores is responsible:-
   a. Responsible for University of Ilorin Stock management, policy formulation, implementation and accountability.
   b. Handling of stock verification against order, letter of award of contract, bill of quantities and invoices.
   c. Responsible for receipts, inspections, issuances and documentation of allocated and unallocated materials for faculties, departments, units and centres, school of preliminary studies, institute of education and college of health sciences just to mention few.
   d. Preparation of relevant stores documents to cover the supply items for either payment or retirement of advances. These documents include Goods Received Note (G.R.N), Stores Issued voucher (S.I.V), Stores Requisition (S.R), Fixed Assets Registration Form (F.A.R), Stock Cards and Ledgers as the case may be.
   e. Handling of manual and electronic processing of acquired University Assets.
   f. Compilation of annual report on acquired University equipment and furniture.
   g. Generation and inscription of Assets Codes only on acquired University Assets.
   h. Compilation and documentation of unserviceable and stagnated stock for disposal by the University Board of Survey.
   i. Conducting routine and annual stocktaking exercise on physical materials and equipment.
   j. Ensure safety control of Store and Stock.
   k. Processing and documentation of water treatment chemicals, Library books and drugs.
   l. Processing of materials and equipment during the University ceremonial activities.
   m. Rendering report to appropriate authorities in respect of Stores unit functions.
   n. Annual stocktaking exercise is also Stores unit responsibilities.
   o. Attendance of meetings where Stores unit is expected to play vital roles
   p. Any other duties as may be assigned by the Head of Department. INSURANCE FUNCTIONS/ACTIVITIES The insurance functions of the University are also performed by this unit (Budget, Expenditure and Stores Unit). These functions are handled by the Deputy Bursar, Head of the unit and these functions are:
   a. Forwarding of the schedule of all University’s insurable assets to the University’s Insurance Broker, after being compiled by the Works department
   b. Cross-checking of the schedule of insurance premium received from the insurance broker, as jointly computed with the underwriters (insurers).
   c. Facilitating the payment of insurance premium to the underwriters (insurers), through the University’s Insurance Broker
   d. Processing of insurance claims to the Underwriters (Insurers), through the University’s Insurance Broker, whenever losses are suffered on any of the University’s Insurable assets.
    Holding of meetings with Loss Adjuster sent by the Underwriters (Insurers), after physical assessment of damaged assets, for final determination of the amount due to be paid to the University as indemnification
    Maintaining proper record of the total amount of indemnification received by the University in any given financial year and;
    Maintaining a constant relationship with the University’s Insurance Broker on all insurance matters, so as to from time to time, assess the compensation worthiness of each underwriter (insurer).

B. FINAL ACCOUNTS AND FACULTIES (FAF) UNIT
The Final Accounts Unit:
The Unit consists of the following Sub-Units:
 Ledger Accounts
 Reconciliation
 Fixed Asset
 Central Processing

FUNCTIONS OF THE FINAL ACCOUNTS UNIT
This Unit has been reorganized, and partially computerized.
a. General coordination and supervision of all matters and responsibilities relating to Ledger Accounts, Central Processing Office, Reconciliation and Fixed Assets,
b. Preparation of the University of Ilorin Financial information need for Management decision making,
c. Preparation of Financial statements with relevant supporting schedules of the University.
d. Co-coordinating and liaising with External Auditors for statutory auditing.
e. Preparation of Monthly Bank reconciliation of the University Accounts,
f. Coordinating the Bank reconciliation observations and ensure its correctness.
g. Responsible for creating and assigning codes for new accounting transaction;
h. Filing and custody of relevant documents for producing the accounts.

1. Ledger Account:
   Specific Functions of the Sub-Unit are as follows:
   (a) Checking of Posted Receipts and Payment Vouchers with the hard copies
    Check receipts and payment vouchers posted into Cash Book to ensure that codes and amounts are correctly posted
    Raise journal vouchers to correct errors observed and or edit on system where possible
   (b) Finalizing the preparation of financial statement.
    Prepare and report on management account and financial statement
    Check summary and detailed Trial Balance for unusual balances.
    Investigate unusual balances in the Ledger
    Correct the unusual balances or errors by raising necessary journal voucher
    Prepare monthly, quarterly, half yearly and annual management accounts for the Management and Council.
    Prepare financial statement of the University for Statutory Audit.

(c) Co-ordination of Statutory Audit of University’s Financial Statements
 Co-coordinating and liaison with the External Auditors for the annual audit exercise
 Arrange for pre-audit meeting with External Auditors.
 Agree on a date with the External Auditors for the commencement of the audit exercise.
 Attend to issues raised by the External Auditors during the course of the audit exercise
 Coordinate the response to Management Letters from the Auditors.

(d) Visitation of various Government Financial Regulatory and Monitoring Bodies & Agencies
 Coordinate activities officials from Office of Accountant General of the Federation, Auditor General for the Federation, NUC and other government agencies, e.g. ICPC and EFCC.
 Attend to various issues raised during the period of the visitation especially as it affects the Unit.
 Respond to queries raised (if any)
(e) Maintenance of Accounting Codes and Chart of Accounts
 Relating with other Bursary Units – Budget and Expenditure Control; Salary, Loan and Advances and Revenue for the creation of additional Account codes as the need arises.
 Create other ledger account code when necessary.
 Communicate generated new code to various units;

(f) Filing and Documentation
 Receive payment vouchers and receipts from Central Processing Sub-Unit
 Arrange both payment vouchers and receipts by bank account name for ease of exercise
 File both payment vouchers and receipts according to their respective bank account name.
 Retrieve past records for use of External Auditors and Government monitoring agencies (Auditor-General, Accountant General of the Federation) from archives or any other source.

2. Bank Reconciliation.
   Bank reconciliation of all Account of the University Banks Statement with the cash books by:
   i. Collection of all University Bank account Statement from relevant Banks
   ii. Ticking the figures in the specific bank statement figure to its cash book nearest figure.
   iii. Extracting the differences arising from (i) and (ii) above inform of unpresented mandate and uncredited Lodgement.
   iv. Any other errors in bank statement or in the cash book will also be identify and use to adjust the cash book where necessary.
   v. Reconciling the balance of the cash book, bank statement and the ledger
   vi. Signing and filing of Bank Reconciliation Statement of each of the Accounts.
3. Maintenance of Fixed Assets Register
   The fixed assets of the University are captured at the point of acquisition classified, recorded, accurately and completely including the calculation of their depreciation at the following rate.
   Fixed Assets Register is maintained for each class of fixed assets purchased/acquired and donated by:
   i. Receiving of fixed asset register sheet from Stores Unit.
   ii. Ensuring prompt update of the fixed asset register as received from stores unit.
   iii. Processing donated asset to ensure the recording and update in the fixed asset register.
   iv. Monthly reconciliation of fixed asset register and fixed asset ledger.
   The details on the Fixed Assets Register include
    Date of purchase
    Description of item
    Mode of acquisition i.e. purchased or donated
    Cost of purchase
    Funding source
    Identification / serial number
    Location of assets
    Cost at time of purchase/acquisition
    Depreciation method and rate
    Vendor’s name and address
    Date of disposal
    Realized value at disposal
4. Central Processing Office
   Main Activities:
   i. Collection of source document – Receipt, Payment and Journal Vouchers, Cash Book and other memorandum records;
   ii. Posting of Receipt, Payment and Journal Vouchers into Ledgers monthly;
   iii. Ledger –Cashbook reconciliation monthly.

C. REVENUE & INVESTMENTS (R&I) UNIT
The Revenue Unit of Bursary Department is now refers to as Revenue and Investment Unit. The Unit currently headed by Deputy Bursar and assisted by Chief Accountant and other staff of the unit who are in charge of operational functions of the unit.

Functions of the Unit include the following:
The revenue unit monitors all the online payment through the University collection now linked with the Treasury Single Account (TSA). They keep all the records of all these receipts and reconcile appropriately.
1. Online collection of all revenue

2. Lodgment of all manually collected revenue into the Treasury Single Account.
3. Maintenance of general receipts registers.
4. Liaising with Cash Office for revenue transaction captured in the Cash Book.
5. Creation for access to revenue portals.
6. Posting of receipt/Journal to final account.
7. Reconciliation of revenue records.
8. Monitoring balances on Unilorin portals and Remita platform.
   9. Preparing and Maintenance of account for Scholarship, Prizes and Awards Committee.
9. Attending to issues and problems associated to the portal.
10. Confirming and preparation of various claims to students e.g. refund of Hostel fees due to non-allocation of bed space e.t.c.
11. Workings on Ways and Means and distributions of Faculty charges.

WORKING PROCEDURE AND OPERATION IN REVENUE AND INVESTMENT UNIT
The work procedure in the Revenue and Investment Unit are listed below:

1. Issuance of receipts as acknowledgement for draft and letter revised in favor of the University.
2. Processing of bank draft lodgment to the bank
3. Checking online receipts generated by payers with the Bank information on our system. This is to confirm correctness and completeness of fees paid.
4. Sign and stamp ‘paid’ on student registration course form in quadruplicate for fresh students and triplicate for returning students.
5. Checking of student’s ledger to ensure full payment.
6. Signing and stamping of clearance form if not indebted to the University, otherwise, do not clear.
7. Processing of refund of wrong payment dues by ensuring the following steps:
   a. A letter of request by the student concerned is received with the appropriate approval for the refund.
   b. The students’ ledger is verified and confirmed by the Head of the Unit.
   c. After confirmation, it is sent back to the Bursar’s office for further action.

REPORT GENERATED IN REVENUE & INVESTMENT UNIT

1. Generation of student LEDGER REPORT.
2. Generation of Income received for all categories of payments.
3. Generations of student debtors list
4. Generation of revenue report by income heads
5. Summary of total revenues, quarterly, half yearly and annually
6. Generation of list of registered students.
7. Generation of list of transfer student
8. Generation of list in preparation of Faculty Ways and Means.

D. SALARIES, LOANS AND ADVANCES (SLA) UNIT

The unit is divided into two sub-units namely:
 Salaries and wages sub-unit
 Loans and Advances sub-unit

(i) Salaries and wages

1. Preparation of payment voucher with payee’s bank detail and proper coding to ensure payments is charged to proper heads.
2. Copies of voucher and attaching documents are made and properly filed away for future reference.
3. Dispatch of payment voucher to budget and expenditure controls unit for commitment.
4. Mails relating to salary complaints by staff, Notification of retirement, stoppage of salary due to Dismissal, etc., are sent to the computer section for necessary treatment.

(ii) Purchase Advances

1. Preparation of payment voucher with payee’s bank details and necessary codes to be charged.
2. Enter into general ledger both manual and computer.
3. Dispatch of payment voucher to Budget and Expenditure Controls Unit for commitment
4. After passing through internal audit and payment made in TREASURY UNIT pink copy sent back to Advance Unit for posting into general ledger as evidence of payment.
5. Sending notice to the payee for retirement of purchase advance upon which failure to retire necessary sanction may be imposed.
6. Receiving retirement Form and documents of cleared purchase advance from Audit unit after dully scrutinised by internal audit.(Fixed Asset certificate, compliance with bursary stores and arithmetic accuracy)
7. Raising of (JV) Journal Voucher on retired purchase advance with appropriate codes and narrations (Cr Advance and Dr Expenditure)
8. Posting of journalised purchase advance into Final Account General Ledger.
9. Checking of posted items to eliminate omission.
10. Reconciliation of posted Journal voucher and general ledger of Final Account.
11. Sorting the result in order to attach name of purchase beneficiary to each outstanding

(iii) LOANS
Basically we have Housing Loan, Special Loan (For Individuals and offices).

1. Housing loan to staff based on the recommendation of the Committee to the Vice -Chancellor and communicated to the Bursar through the secretary of the Committee.
2. Photocopy of approval letter of individual beneficiaries
3. Posting into personal ledger of the beneficiaries to indicate amount of housing loan granted to them.
4. Preparation of payment voucher with payees bank details and charged necessary codes
5. Dispatch to budget and expenditure control unit after dully signed by officers in purchase advance unit
6. Same process applies to special loans to individual staff and corporate bodies
7. Individual special loan is approved by the vice-chancellor by the recommendation of the Bursar
8. The deduction advice is to be communicated to the salaries sub unit.
9. Individual special loans are to be deducted from staff salary on monthly basis.

E. TREASURY (TU) UNIT
The Treasury Unit of Bursary Department, University of Ilorin, formerly known as Cash Office, is saddled with the following responsibilities:

1. Making payment from Central Bank of Nigeria (CBN) Account using both the Remita (TSA) and GIFMIS platforms, and making necessary record thereof.
2. Safekeeping of paid and unpaid payment vouchers through effective filling system.
3. Maintaining and updating Cash Books for all the University’s Accounts from the Final Accounts Unit.
4. Preparation of weekly publication “Fund Sources and Utilization Report” (Money Matter) in the Unilorin Bulletin.
5. Liaising with other units in the Department for effective and efficient Bursary operations.
6. Raising of Journal Vouchers to cater for transactions not performed through payment vouchers.
7. Ensuring prompt posting of transactions into and safe keeping of all the Cashbooks.
8. Attending to the general needs of staff, students and the general public who are having contact with the University through the Unit.
9. Attending to the needs of various officers from the supervising agencies such as the Office of the Accountant-General of the Federation, Office of the Auditor-General of the Federation, the National Assembly, Federal Ministry of Education, Finance, etc.
10. Ensuring smooth and seamless Treasury by making prompt payment to all and sundry, based on the given approvals but subject to availability of funds.

SUB UNITS IN TREASURY UNIT
Treasury has two (2) sub-units, namely:

1. Treasury Record Sub-Unit
2. Treasury E-Payment Sub-Unit

A. TREASURY RECORD SUB-UNIT
As its name implies, Record Sub-Unit is responsible for receiving, generating, keeping, updating and transmitting payment vouchers/reports to Treasury E-payment Sub-Unit for payment, Centre Processing Office of Final Account Sub Unit for processing and Salary Loan and Advances for updating their advance/ loan records.

Security Documents in Treasury Sub-Unit

1. Payment Vouchers
2. Treasury Cash Books
3. GIFMIS Warrant lines
4. Treasury Journal Vouchers
5. Copies of Revenue Receipt
6. GIFMIS Overhead Budget Lines

Reports
Record Sub-Unit generates various reports.

• Weekly cash analysis
• Monthly, quarterly and yearly expenditure analysis
• Other report as required either by management or external body i:e OAGF

B. TREASURY E-PAYMENT SUB-UNIT
Treasury E-Payment Sub-Unit is responsible for the payment, electronically via the internet, the payment vouchers received from Treasury Record Sub-Unit.
The payment is made from the Federal Government of Nigeria’s CBN Treasury Single Account (TSA) and Government Integrated Management Information System (GIFMIS) as follows:

CBN TSA:
The payment is made through REMITA platform for payment from:

1. Internally Generated Revenue Account (IGRA)
2. NEEDS Assessment Account
3. TET-fund Account

GIFMIS:
The payment is made through GIFMIS platform for payment from:

1. Overhead Account
2. Capital Account

REPORTS:
The reports usually prepared periodically by the Treasury E-Payment Sub-Unit include:

1. Weekly “Fund Sources and Utilization Report” (Money Matter) via E-Mail to Corporate Affairs Unit of the University for Weekly Publication in the Unilorin Bulletin.
2. Failed Transaction Report, at least, twice in a week for necessary action.
3. Monthly Statutory Deductions Schedule (such as VAT, WHT, Stamp Duty,) deducted by Unilorin and paid directly to FIRS. This monthly schedule is usually sent to the E-mail box of FIRS according to their request.