Directorate of Finance

INTRODUCTION

The Finance Department is responsible for a variety of administrative functions for the University. The Department head is Mr. Muhammad Sajeeruddin.

All aspects of accounting are carried through the finance department including payable function, fixed asset reporting, annual budget preparation and financial reporting of NED University.

The department prepares the University's Annual Financial report in accordance with generally accepted accounting principle (GAPP).

The working of the department has recently been converted into electronic data processing system using the ORACLE database and latest Information Technology tools with the assistance of the skilled INFORMATION TECHNOLOGY MANAGEMENT. This has greatly contribute to achieve organizational management and accounting needs.

ORGANIZATION CHART

AIMS AND OBJECTIVE

• To prepare the University's Strategic Financial Plans.
• To provide a first class and complete financial service in an efficient and effective way in support of the University's key aims.
• To ensure that the service provided identifies and satisfies the relevant needs of the University's staff, students and other customers within the framework of the Financial Directives, Service Level Agreements, and the department's policies and procedures.
• To ensure all income due to the University is properly accounted for and received on time
• To procure goods and services for the University at appropriate cost, to the required quality and on time.
• To ensure payments are correctly recorded, paid to the right person, for the correct amount and on time.
• To maintain probity in the use of funds by ensuring that financial policies and procedures are followed.
• To ensure that statutory and regulatory obligations of financial accountability and reporting are provided, including compliance with the Financial Memorandum.
• To maximize income from investments, minimize risk in investing the University's funds and consider private sector funding opportunities.
• To provide financial advice to Senior Officers, Deans and other managers on an ongoing basis.

RESPONSIBILITIES

• Director Finance
  • University accounts
  • Annual Budget
  • Previous year's accounts
  • University funds
  • Higher Education Commission (HEC) correspondence
  • Finance and Planning Committee's Meetings.
  • Purchases made by the University.
• Deputy Director Finance (Accounts) - DDF(A)
  • Fees matters (students and others)
  • Cheques and checking payment vouchers
  • Leave accounts of University employees
  • University payroll
  • Liaison with Audit Department.
• Deputy Director Finance (Funds) - DDF(F)
  • Provident, Benevolent and Pension Fund
  • Development Accounts.
  • Liaison with Director Planning & Projects for Dev. Budget.
  • Finance & Planning Committee meetings.
• Assistant Director Finance (Budgets) - ADF(B)
  • Annual and Revised Recurring Budget
  • Budget
  • Utilization Reports.
• Assistant Director Finance (Accounts) - ADF(A)
  • University fees from students.
  • University Payroll.
  • Financial Statements of Account
  • Reconciliation of accounts
  • Monthly and Annual Trial Balance.
  • HB loan, Computer loan and Purchase of Vehicle loan.
• Assistant Director Finance (Funds) - ADF(F)
  • Budget Estimates of Self Finance and Research Fund.
  • Annual Statements of Account.
  • Proposals of advances of Provident Fund.
  • Meeting of PFMC, BFMC
• Assistant Director Finance (Coordination) - ADF(C)
  • Assisting Director Finance in implementation of Recurring Budget estimates, Revised Estimates, Utilization report and other financial statements prepared monthly, quarterly, half yearly and annually.
• Assistant Director Finance - ADF(P)
  • Management of Leasing and purchases in local currency.
  • Supervision of performance of bidders
  • Watching delivery of stores within stipulated time period.
• IT Manager
  • Supervision of Computer section
  • Development, modification and amendments of software in Oracle platform according to the requirement of the department.

ACTION PLAN FOR OBJECTIVE 2023 (Click to View)

OPEN HOURS AND ASSISTANCE