The Finance Department is currently headed by the Deputy Finance Officer, Ms Grace Kakiya who provides guidance in the management of the University’s Financial Resources. The department is under the Division of Planning, Finance and Administration headed by Deputy Vice Chancellor Planning, Finance and Administration.
- To maintain prudent management of resources by conducting quarterly variance analysis in every financial year
- To facilitate quality service provision through improved system automation in each financial year
- To embrace technological advancements in all operations to enhance timeliness, efficiency and effectiveness
- To create awareness to University staff on financial matters by facilitating training in every financial year
- To continually monitor and review performance of departmental structures and systems, by implementing an effective Quality Management System based on ISO 9001:2008.
Functions of Finance Department
Functions of the Department include:
- Formulation, interpretation and implementation of financial policies, regulations and strategy,
- Preparation of annual budgets and budgetary control,
- Management accounting and periodic financial returns,
- Timely preparation and submission of annual reports and financial statements
- Institution of necessary controls for enhancing prudent management of financial resources
- Compliance with Public Finance Management Act (2012), financial regulations, circulars and directives
Services offered by the department
The Department provides a full range of financial services, including:
- Collection and Receiving of Revenue from:-
- -Government grants
- -Tuition and related charges
- -Appropriation in Aid and other income
- Student financial services
- Vote book and budgetary controls
- Processing approved expenditures, creditors, contractors and part time lectures
- Financial reporting and management accounting
- Payroll management
- Administration of taxes
- Debt management
Our customers include Karatina University community, public and private sector entities. The finance department staff are aware, and share the University’s dedication to customer satisfaction and vision of becoming a University of global excellence, meeting the dynamic needs and development of society. Through the management practices in place, the department strives to create a working environment that enables use of innovative, technological skills and talents to best serve our customers.
Collection of fees
The University has embraced the following acceptable modes of fee payment to ensure convenient and secure handling of fees.
- Bankers’ cheque payable to Karatina University.
- Direct banking to Karatina University bank account.
- Electronic Fund Transfer (EFT)