Financial Administration performs the following Primary Functions:
Expenditure Control and Provisioning Administration
The unit responsible for Financial Control and reporting directs its activities towards budgetary control and control over expenditure. This includes the processing of salaries and other compensation, asset management, procurement, loans, investments as well as control over the utilisation of equipment.
The unit also reports to the CUT Council and the Ministry for Higher Education and Training on financial matters that bear impact on the Central University of Technology.
Administration of Financial Aid to students
The unit for the Administration of Financial Aid to students renders support to students in terms of bursaries and loans. With dedicated staff, extensive efforts are made to create an environment where the anxiety for financial burden is alleviated.
Promotion of Efficiency
The primary function of the unit is to promote financial efficiency in all functional areas of the Central University of Technology. The unit is also responsible for the recovery of debts and to perform Responsibility Accounting where special attention is devoted to business units (Science Park, Research Fund and External Funding Units) and cost centers (including Hostel Accounting).