About

The Bursary Department performs the financial and accounting functions of the University. It is headed by the University Bursar who is, by the University of Ilorin Act, the Chief Financial Officer of the University and is responsible to the Vice-Chancellor for the day-to-day administration and control of the financial matters of the University

The Bursar who is the Chief Finance Officer of the University and a member of the Management of the University, ably assisted by Deputy Bursars who are the Unit heads. The Bursary Department is divided into the following Units.
1 BUDGET, EXPENDITURE & STORES (BEST) UNIT
2 FINAL ACCOUNTS & FACULTIES (FAF) UNIT
3 REVENUE & INVESTMENT (R&I) UNIT
4 SALARIES, LOANS AND ADVANCES (SLA) UNIT
5 TREASURY UNIT
Each of these Units is usually headed by a Deputy Bursar who is responsible for the overall management of the Unit.
As a Department with definite purpose and structure the scope, vision and mission of the Bursary are as stated below:
Scope
Basically, the Bursary is responsible for the financial management functions of the University. The scope of the financial management activities covers critical aspects of:
(i) Mobilization of resources i.e. funds
(ii) Allocation of funds to various activities in a way that will bring value addition to the University, hence consideration for economy, effectiveness and efficiency.
(iii) Accounting for spent funds
(iv) Timely preparation of the University’s Financial Statements and its prompt auditing.
In order to accomplish these functions, the Bursary maintains full accounting records of assets and liabilities as well as, income and expenditure of the University. It also prepares estimate of revenues and expenditure, both of a capital and recurrent nature within the Medium Term Expenditure Frame work (MTEF) as prescribed by the Fiscal Responsibility Act 2007 of the Federal Republic of Nigeria and in line with the University Strategic Plan. The Bursary equally prepares and maintains other accounting records, including ledgers, payroll and ancillary records. These functions are performed through the Bursar’s office and the other following Units: Final Accounts & Faculties (FAF) Unit, Revenue & Investment (R&I) Unit., Budget and Expenditure Control & Stores Unit (BEST), Salaries, Loans and Advances (SLA) Unit, Treasury (TU). Each Unit is headed by a Deputy Bursar (DB).