REVENUE & INVESTMENTS (R&I) UNIT

The Revenue Unit of Bursary Department is now refers to as Revenue and Investment Unit. The Unit currently headed by Deputy Bursar and assisted by Chief Accountant and other staff of the unit who are in charge of operational functions of the unit.

Functions of the Unit include the following:
The revenue unit monitors all the online payment through the University collection now linked with the Treasury Single Account (TSA). They keep all the records of all these receipts and reconcile appropriately.

1. Online collection of all revenue
2. Lodgment of all manually collected revenue into the Treasury Single Account.
3. Maintenance of general receipts registers.
4. Liaising with Cash Office for revenue transaction captured in the Cash Book.
5. Creation for access to revenue portals.
6. Posting of receipt/Journal to final account.
7. Reconciliation of revenue records.
8. Monitoring balances on Unilorin portals and Remita platform.
9. Preparing and Maintenance of account for Scholarship, Prizes and Awards Committee.
10. Attending to issues and problems associated to the portal.
11. Confirming and preparation of various claims to students e.g. refund of Hostel fees due to non-allocation of bed space e.t.c.
12. Workings on Ways and Means and distributions of Faculty charges.

Working Procedure And Operation In Revenue And Investment Unit
The work procedure in the Revenue and Investment Unit are listed below:
1.Issuance of receipts as acknowledgement for draft and letter revised in favor of the University.
2.Processing of bank draft lodgment to the bank
3.Checking online receipts generated by payers with the Bank information on our system. This is to confirm correctness and completeness of fees paid.
4.Sign and stamp ‘paid’ on student registration course form in quadruplicate for fresh students and triplicate for returning students.
5.Checking of student’s ledger to ensure full payment.
6.Signing and stamping of clearance form if not indebted to the University, otherwise, do not clear.
7.Processing of refund of wrong payment dues by ensuring the following steps:
a. A letter of request by the student concerned is received with the appropriate approval for the refund.
b. The students’ ledger is verified and confirmed by the Head of the Unit.
c. After confirmation, it is sent back to the Bursar’s office for further action.

Report Generated In Revenue & Investment Unit .
1.Generation of student LEDGER REPORT.
2.Generation of Income received for all categories of payments.
3.Generations of student debtors list
4.Generation of revenue report by income heads
5.Summary of total revenues, quarterly, half yearly and annually
6.Generation of list of registered students.
7.Generation of list of transfer student
8.Generation of list in preparation of Faculty Ways and Means.