Finance Office

Objectives:

  1. Administer the financial affairs according to the policies, procedures and instructions of the University of Mogadishu.
  2. Achieve the objectives of the university and the tasks assigned to this within the set specifications.
  3. Control the general expenses, neutralize the losses, and commit to the set budget, in order to prevent disorder in the financial operations of the University.
  4. Provide help and advice to the head department in financial decision-making.
  5. Work in sync with the rest of the departments and colleges, and organize their financial affairs.

Dimensions:

  1. Daily outcome is evaluated through programmed coordination with various departments and colleges in order to control and eventually solve the problems, and reduce their impact on the department’s decisions.
  2. The chief financial officer has to be present during all his working hours in order to perform the tasks entrusted to him to the fullest. He must assign part of his duties to his staff and identify each one of them as appropriate, within the limits of the university policy.

Duties and Responsibilities:

Based on the objectives and specific dimensions for this job, the duties and responsibilities of the Chief Financial Officer are as follows:

Budget:

  1. The Chief Financial Officer states the methods and procedures that must be followed for the preparation of the budget.
  2. The Chief Financial Officer is responsible to design and review the accounting modules, in coordination with the concerned authorities in his department and beyond, in order to compare it with the actual results.
  3. Assess set plans and budgets, then submit them to the head department and unite them in one general budget.
  4. Merge the general expenses and budget requests to the authorities and present them to the responsible authorities with the necessary financial analysis.
  5. Prepare reports for the expected revenues, income and investments of the University.
  6. Give instructions to distribute the department’s expenses to the other departments and colleges.
  7. The Chief Financial Officer determines the size of the annual expenditure for every department and college at the university.
  8. Follow-up and prepare reports about the major overrun of the programmed budgets.
  9. The Chief Financial Officer is responsible for any adjustments in the financial structure of any department, branch or college, based on the financial situation of the university at a given time.
  10. Develop and maintain a procedural system for this purpose.

Accounting:

  1. Ensure that the plans are carried out according to the set principles.
  2. Supervise the financial affairs of the university and make sure that they are correct and accurate and implemented in a timely manner.
  3. Supervise all accountants at the university.
  4. Develop methods of calculations to assist the head department evaluate the performances of other departments and branches.

Revenue Collection:

  1. Generalize fees policy for all students, without exceptions, and control the debit and credit from all colleges and branches regularly.

Financial Relations: external and internal

  1. Prepare the necessary plans for the capital of the university.
  2. Develop relationships with sponsors, IRS and accounting auditors.
  3. Ensure that the adopted financial systems in the departments, branches, and colleges are within the approved policies.
  4. Develop policies that ensure security in the buildings.
  5. Supervise the distribution of the salaries of staff and faculty members and approve their disbursement.
  6. Oversee the allowances for staff and make sure they are made under the rules.
  7. Prepare reports with the auditors’ remarks to the head department and give instructions when required.

General Duties:

  1. Supervise the financial analysis.
  2. Depute members of the staff to do some of his/her tasks when required.
  3. Perform any other work commensurate with his/her qualifications and abilities.
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