The Finance & Accounts Department is part of the Division of Finance and Administration of Egerton University. The department is headed by the Finance Officer who provides the overall leadership in the management of the University’s Financial Resources The main source of University’s revenue is fees paid by students. The integration of students payments with the bank enables real-time receipting and posting to students accounts ie host to host. The University also generates more income from Income Generating Units (IGU’s). The set up of Income Generating Units’section brings efficiency in operation of the IGU’s by evaluating their performance and putting in place ways of improving their operations to maximize profits. To increase efficiency in the payment process, the department has an examination office where verification of documents is done before payment. The department has automated various areas for smooth operation such as revenue receipting, payment and document tracking. The elimination of cash operations and embracement of online payment system has brought about great efficiency in our operations. The University has been facing the challenge of reduced capitation and has been addressing the issue through enhanced revenue collection and appeals to the government for more support for smooth running of the University. |