This unit is responsible for monitoring and controlling the expenditure of units in the University.
Once operating budgets are approved, Expenditure Control Officers open Vote Books for every funded code in the budget profile and ensure that all instruments used in expending money are controlled. The instruments are Local Purchase Orders, Job Orders, Letters of Award/Commission, Contract Agreements, Receipts and Payment Vouchers. The control must ensure that budgetary provisions exist for meeting liabilities arising from the issue and release of these instruments.
The following procedures are adopted for processing payments:
- Approved requests for payment are sent to the Bursar.
- Vote balance is confirmed to ensure fund availability before processing of an approved request.
- Enter expenditure in the vote book and draw down the balance.
- Raise, check and sign payment vouchers by different persons authorized
- Payment vouchers are sent to the Internal Audit for verification and certification.
- Audited payment vouchers with relevant documents are transmitted by the internal Audit unit to the cash office for payment.
- In processing payment certificates on the expenditure of Capital nature
- Physical Planning and Development Unit issues an interim payment certificate in respect of the project.
- A file is opened for each project.
- Confirm fund release for the project
- Repeat other payment processes as outlined above:
Payment Voucher and Internal Control:
The documents used in paying out University funds called Payment Voucher (PV) is produced and authenticated in the Expenditure and Control Unit before the Internal Audit prepayment checks. The essence of centralizing the preparation and authentication of payment voucher in the expenditure control unit is to ensure effective internal control, where various officers are involved in the raising of a payment voucher namely:
- The officer that writes the payment voucher based on a written approval document.
- The officer that checks and passes the payment voucher.
- The Accountant that approves payment on behalf of the Bursar.
- These officers must append their signatures to the document and in doing so they certify that:
- The bill relates to the financial year in question.
- The bill is for relevant needs of the University.
- An identifiable creditor is involved
- Evidence is available showing that due value has been received by a proper officer of the University.
- Appropriate authority to incur expenditure is evident on the voucher or its supporting documents.
In addition to the preparation of draft estimates and draft budgets, the unit also prepares monthly or quarterly reports on the performance of the budget, showing clearly what has been committed and what is left for the remaining part of the financial year. The Unit also furnishes the Bursar and the Vice-Chancellor, a shortlist of Votes that have been fully committed and those on which no commitments have been made.