FINANCE DIVISION

spencerMR. SPENCER OLOLCHIKE
Ag. FINANCE OFFICER

The Finance Department aims to provide a cost effective, efficient and proffessional service which includes advice, direction and guidance, and support to all staff. A deliberate policy is in place to allow the existing staff to grow as section heads of this sections both professionally and academically. The University has been extremely supportive in providing learning opportunities to these section heads.

The Finance Department consists of the following sections; Human Resource Policies and Payroll Unit; Payment and Expenditure Unit; Revenue Unit (including Cash Office and Student Finance): Reporting & Information Systems Unit and The Management Accounting Unit.

Human Resource Policies and Payroll Unit

The Unit has responsibility for:

  • Maintaining registry of all policies as relates to University personnel
  • Liaising with HR, execute all dully approved Pay Change Advise (PCA)
  • Prepare and process the monthly payroll
  • Maintain schedules for Pension and Gratuity
  • Prepare and submit yearly tax returns for all staff
  • Payment of and reconciliation of all personal claims including imprest and NHIF claims

Payment & Expenditure Section

The Payment and Expenditure has the responsibility of:

  • Treasury management including cash flow forecasting and daily bank balances
  • Recording and timely payment of appropriately submitted and authorized supplier invoices
  • Maintenance of aged supplier ledger
  • Payment of staff expense claims
  • Maintain the University main petty cash
  • Process Capital Expenditure and maintain work in progress schedules
  • Maintain research funds schedules

Revenue Unit

The Revenue Unit has responsibility for:

  • Tuition fee collection
  • Collection of fees for halls of residence accommodation
  • Invoicing and collection of other University income
  • Student credit control and overdue accounts collection activities
  • Liaison with HELB and constituency funds on payment of student loans and bursaries
  • Preparing management reports on fee collection
  • Cashier office activities, receipting and banking of IGA incomes

Management Accounting and Reporting Unit

Management Accounting and Reporting Unit consists of two sections.

The Financial Planning and Reporting section with the responsibility of:

  • University Planning/Budget Setting Process
  • 5 year Financial Forecast
  • Overall Budget monitoring and reporting and maintenance of the Vote Book
  • Producing Budget Statements
  • Producing internal management information
  • Transparent Approach to Costing Returns (TRAC)
  • Advising Schools and Departments on full economic costing and business planning for projects
  • Advising Schools and Departments on other financial matters

The Financial Accounting section has responsibility for:

  • Producing Annual Financial accounts and external reporting
  • Ensure that the University meets strict reporting guidelines to Council and the Government
  • Fixed Asset Register maintenance

Location

Contact Us

MAASAI MARA UNIVERSITY
P.O. Box 861 - 20500, NAROK
EMAIL: info@mmarau.ac.ke
TEL: +254 020 5131400 or 0729470525
Admission Enquiries: 
Email: reg.aa@mmarau.ac.ke
 
Nairobi Satellite Campus 
Located at the Kenya Education Management
Institute, Parklands 
Tel: 041 2002344