(1) There shall be Director of Finance who shall be appointed by Council on the recommendations of a Search Committee of Council. He shall be appointed in the manner presented in the Schedule K to these Statutes.
(2) The University Director of Finance who is a Key Officer shall be responsible to the Vice-Chancellor for the Financial Administration of the University in accordance with the Public Financial Management Act, 2016 (Act 921).
(3) Without prejudice to the generality of the powers hereby conferred on the Director of Finance by these Statutes, or any other Law, the specific functions of the University Director of Finance shall include the following:
(a) implementation of policies relating to accounting and financial control in the University;
(b) corporate planning with respect to budgeting and budgetary control and long term or strategic planning with regard to all the finances of the University;
(c) liaise with Ministries, Departments and Agencies (MDAs) in respect of financial matters affecting the University;
(d) be responsible for Treasury Management;
(e) be responsible for the preparation and consolidation of final accounts and commenting on management reports for external auditors;
(f) be responsible for ensuring, on behalf of Council, that proper records are kept of all University property, assets, stocks and valuables of all funds in a register;
(g) exercise oversight responsibility for the accounting functions of other self-accounting and income-generating units of the University.
(4) The Director of Finance shall be responsible for the preparation of the annual operating
budget of the University and shall, on behalf of the Vice-Chancellor, present to Council for review and approval. He shall also submit periodic reports to the Council on the status of plans and projections necessary for the preparation of budgets for succeeding years.
(5) The Director of Finance shall also:
(a) call for and receive monies due to the University and make authorised payments on behalf of the University;
(b) ensure that throughout the University proper books of accounts and records of the property of the University are kept in a manner and form required by Council;
(c) report to the Finance and General Purposes Committee a case of failure to maintain the financial and other records of the University in the form required by the Council;
(d) prepare consolidated accounts of the units of the University;
(e) afford every facility to both internal and external auditors in the performance of their functions;
(f) advise on or raise funds for the University;
(g) perform any other function assigned by the Vice-Chancellor of the University.
(6) The Director of Finance shall hold office for four (4) years and may, upon application,
be eligible for re-appointment for a further term only, provided that no part of the second term enters the compulsory retirement age.
(7) The Director of Finance may resign from office by a letter addressed to the Chairperson
of Council through the Vice-Chancellor of the University.
(8) The Council may remove the Director of Finance from office for a stated good cause, including in particular conduct that has compromised or threatened to compromise the financial integrity of the University.
(9) The provisions for the removal of the Vice-Chancellor from office shall apply to the
removal of the Director of Finance.