ELIZADE UNIVERSITY BURSARY DEPARTMENT INFORMATION ON FINANCIAL MATTERS

ELIZADE UNIVERSITY BURSARY DEPARTMENT INFORMATION ON FINANCIAL MATTERS FOR EMPLOYEES PRESENTED BY: O. S AJEIGBE BURSAR

INFORMATION FOR EMPLOYEES • Bursary Department is a key component in the administration of the university. The department is responsible for the management of the university’s finance and is headed by the Bursar. The department is the custodian of all financial information of the University. • FUNCTIONS OF THE BURSARY DEPARTMENT • The basic functions of bursary departments include the following: • To prepare annual operating budgets (i. e capital and recurrent) • To establish appropriate mechanism for the recording of day to day financial transactions and expenditure control. • To prepare routine and statutory financial statements for the management and other stakeholders. • Perform strategic advisory roles for top Management of the University.

INFORMATION FOR EMPLOYEES • STRUCTURE OF BURSARY DEPARTMENT. • In order to achieve the above functions effectively, the bursary department of Elizade University is structured into the following units: • Final Account and Reports Unit. • Budget and Budgetary Control Unit • Payroll and Salary Advances Unit. • Student Accounts Unit • Purchasing and Stores Unit • Treasury / Finance Unit.

INFORMATION FOR EMPLOYEES • RESUMPTION OF EMPLOYMENT: • On resumption of duty, an assumption of duty form obtainable from Human Resources Department should be collected and completed, a copy of which is sent to the Bursar’s Office after duly signed. • In the Bursary Department (Bursar’s Office): • Pick up the Payroll and Pension Form from the Bursar’s Office. • Fill the Payroll and Pension Form, attach one passport photograph and return to the Bursar’s Secretary. • We expect a new staff that is already registered with a Pension Fund Administrator to supply his/her PEN number for remittances. • Those who have no PEN numbers will be advised adequately.

INFORMATION FOR EMPLOYEES • STAFF ENTITLEMENTS • Staff shall be entitled to the salary and allowances stated below subject to the rates • • • approved by the Governing Council and the Board of Trustees from time to time. Consolidated Basic salary Peculiar Allowances Rent allowance 10% Employer’s Pension Contribution Other allowances approved by the Governing Council. • PAYMENT OF SALARY/NON SALARY EMOLUMENTS • Payments shall be made only to the person on appointment in arrears. (i. e. at the end of each month) provided that: • All documents in connection with new appointments and new appointees are received in the Bursary before the 15 th day of the particular month. • Nominal Roll from each Faculty/Department/Unit for the current month has been received in the Bursary on or before 20 th day of the particular month. • There’s no other instruction places an embargo on the payment of his/her salary for the month.

INFORMATION FOR EMPLOYEES • PAYMENT OF SALARIES – FULL OR PRO-RATA • Salaries/Allowances are paid on pro-rata basis for those who work for only a part of the month because of resignation/retirement or assumption of duty. • The effective date of normal promotion is the 1 st of October or the date approved by the Governing Council/Board of Trustees in the case of re-grading. Visiting staff who assume duty on the 2 nd of October are paid in full for the month of October since 1 st of October is a national public holiday. • Only staff in post before or on the 1 st of April earns an increment, subject to a good report and approval of the Appointments and Promotions Committee.

INFORMATION FOR EMPLOYEES • DEDUCTIONS FROM SALARY • The Labour Law of the Federal Republic of Nigeria disallows • • • deduction in excess of 331/ 3% of staff salaries from source. This is to avoid financial embarrassment to such staff. Apart from the statutory deductions, others which by privilege are recoupable from staff salaries include: Salary Advance, application for which has to be made to the Bursar and approved in special cases by the Vice-Chancellor. Deductions shall normally be in three installments. Surcharge for wrong doings is as approved by the Vice. Chancellor or the Governing Council/Board of Trustees. Student fees guaranteed are recoverable in six equal installments Co-operative Multipurpose Society Contribution/Loan Pay as You Earn Tax. Contributory Pension Scheme of 8%.

INFORMATION FOR EMPLOYEES • Transport Allowance and Local Running: As per the currently adopted • • • financial regulations, allowances had been fixed as follows: Duty Tour Allowance for Academic Staff Officers on EUASS 05 – 07 N 16, 000 Officers on EUASS 01 – 04 N 12, 000 Duty Tour Allowance for Non-Teaching Staff Officers on EUANASS 11 - 15 N 16, 000 Officers on EUANASS 06 – 09 N 10, 000 Officers on EUANASS 01 – 05 N 5, 000 Overtime Allowance Payment of overtime allowance on normal working days shall be at the rate of 0. 7% of the monthly consolidated salary of an officer, subject to a maximum of 45 hours in one month. Hours worked on work-free days will be paid at the rate of 1 ½% of the normal overtime while the rate shall, on public holidays, be doubled of the normal overtime rate.

INFORMATION FOR EMPLOYEES • ADVANCES PROCEDURE AND RETIREMENT OF ADVANCES • There are two classes of advances obtainable in the university. • Personal advances • Non- Personal advances • Personal advances which may be classified as Salary Advance or Loan to individual officers in the employment of the University. It shall be approved in compliance with the University Financial Regulations and at the discretion of the university management where such is in consonance with the aforementioned regulations. • Non-Personal Advances are those advances granted to an officer in his official capacity e. g. Imprest, Touring advance and purchase / supply advances. Advances of non-personal nature shall be authorized by the Management of the University, the applicant must state the reason and the period of retirement.

INFORMATION FOR EMPLOYEES • IMPREST: • This is an advance payment made to an officer for expenditure in which voucher cannot be immediately presented. The authority to operate imprest is approved by the vice-chancellor on the recommendation of the Bursar. • Imprest are of two classes • Standing Imprest which may be replenished from time to time after the submission of retirement receipts. • Special Imprest which are granted for a particular purpose and must be retired in full when the purpose has been achieved.

INFORMATION FOR EMPLOYEES • Retirement of Advances: • Advances shall be retired in a specified form before the due date stated in the commitment (Cash advance) form, usually not more than 2 weeks after the purpose of the advance had been achieved. • Any personnel who failed to respond to a query issued to him within 21 days for non-retirement of advance shall be surcharged and the total amount involved recovered from his salary. • Retirement papers must be sent to internal Audit for certification before sending it to the Bursary.

INFORMATION FOR EMPLOYEES PAYMENT PROCEDURES • The payment procedure for Elizade University involves • • payment for supply of goods, works and provision of services. The contract award for the procurement of goods, works and services for the university shall follow due process as provided for in the University financial regulations and it is meant to: To ensure that goods, works and Services needed are procured with due attention to economy and efficiency. To ensure that University fund is used to procure only those Goods, Works and Services needed for University purpose. To give all qualified bidders an equal opportunity to compete for all procurements, i e following due process of procurement. To ensure that the procurement process is transparent.

INFORMATION FOR EMPLOYEES • PROCESS OF COLLECTING GOODS FROM THE STORE • The request for material(s) comes from the end user by filling the Store Issue Voucher (SIV). • If the material(s) requested in (1) above is available in stock, issuance takes place immediately. • If the material(s) requested in (1) above is not readily available, purchase requisition will be raised and sent for approval. • Upon the procurement of the materials requested in (1) above, they will be received into the store and thereafter issued to the end user.

INFORMATION FOR EMPLOYEES • New Project Implementation: • We are currently implementing an Enterprise Resource Planning Solution for the University, it is a Sage Evolution Software which will assist in most of the operations in Bursary Department and Personnel Unit of the Registry. A module that will be applicable to all staff is called Employee Self Service (ESS). • By the time this is concluded, employees will be able to request for annual leave and get approval online without carrying papers from one office to the other. • Staff shall also be able to access their payslips online, view it and print on their respective desks.

INFORMATION FOR EMPLOYEES • STAFF LEAVING SERVICE • Staff leaving service on resignation, termination or retirement shall clear and settle all outstanding indebtedness in respect of: • Loans and advances • Debt on hire of University properties • Guarantees given for debt owed by their children, spouses and wards. • Debts owed to EU Cooperative Society if any. • Other guarantees and debts in their names.

CLOSING • The Bursary department is on the ground floor of the Senate Building. • Staff of the department are always available to give information to staff as may be required from time to time. • Wishing you all happy stay and fruitful career in Elizade University. LET’S KEEP GOING HIGHER bursar@elizadeuniversity. edu. ng

THANK YOU