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Operation of the Bursary

Operation of the Bursary

“Operation of the Bursary as it relates to Staff”

BURSARY DEPARTMENT

In a nut shell, the Bursary department is that arm of the University which is responsible for the planning (budgeting), receiving, custody, disbursing, recording and reporting on ALL of the University’s finances.

PREAMBLE

The primary goals and objectives of the University culminate in the production of graduates found worthy in character and in learning. To achieve this, the University needs;

  1. Staff
  2. Materials and
  3. Equipments.

For the success of the University’s financial management and its sustainability as a going concern, the staff, materials and equipment needs must be 

  1. Solely,
  2. Necessarily and
  3. Reasonably

required for the attainment of producing students who are found worthy in character and in learning.

OPERATION OF THE BURSARY AS IT RELATES TO STAFF

SALARY

Staff first interaction with the bursary is to obtain a form to enable you provide your personal bank account details into which your remuneration will be paid. The University operates a cashless system by which all monies due to you are paid through the bank and likewise vice versa.

The personal bank account details form is obtainable after you have been duly recruited by the Vice-Chancellor as communicated to you by the Registrar through a “Letter of Engagement-Appointment Letter)”
This letter spells out clearly what the University’s terms of the engagement offer are and the services and conduct expected from you in return.
Full details of the terms of engagement, services and conduct expected from you by the University are as contained in the University’s statutory documents.

It is the University’s business to ensure full returns on the salary invested in you as a staff. That is to say, the University requires and should ensure quality job performances from staff in return for the salaries earned.

Earned staff salaries are usually payable on monthly basis, through the banks. A report of the payment (Pay Slip) is forwarded to individual staff through their personal official e-mail addresses. The choice of this method of digital reporting is three fold:

  1. Security
  2. To contribute to the promotion of a digital culture at ECU
  3. As a cost saving measure

Any complaints/clarification requests relating to your salary should be made in writing as a memorandum to the Bursar. Verbal requests may not be attended to.

EXPENDITURE

Qualifying University expenditure may be categorized into standard and petty cash expenditure. As earlier said, a qualifying expenditure is one that is, Solely, Necessarily and Reasonably required for the attainment of the University’s laid down goals and objectives. For an expenditure to qualify for payment,

  • There must be a request
  • The request must be for an allowable expenditure
  • There must be approvals (within approval and expenditure limits)
  • The process of releasing the needed funds to the applicant must be vouched for with documentary evidence (this gives rise to the use of payment vouchers and supporting documents).
  • The Payment voucher itself has in built internal controls which must be observed such as internal checks & balances and internal audit.
  • All payee should present University acceptable photo identification at the point of payment.
  • There must be evidence of receipt from the payee which is provided at the bottom of the payment voucher to reduce stamp duty taxes.

All payments made by ECU are made through the banks. These include salaries, staff purchase and imprest advances and other staff claims


Expenditure may be incurred Only After proper approvals have been obtained. Where a staff incurs such approved expenditure from his pocket he may claim for a refund using Original Receipts obtained as supporting documents.

Where a staff is required to incur expenditure for the University by way of an advance, the preceding request must be detailed well enough to allow for a hitch free post purchase reconciliation and retirement process. Staff purchase advance requests should include the cost, specification and place of purchase which would have been ascertained by the staff prior to his request.
All imprest expenditure are as guided by the rules governing imprest floats

The various prescribed forms for staff claims, advances etc are available in the bursary, designated offices and will be placed on the University website in the near future.

INCOME As a rule and without compromise, all University income are paid INTACT into the University Bank accounts

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