TREASURY (TU) UNIT

The Treasury Unit of Bursary Department, University of Ilorin, formerly known as Cash Office, is saddled with the following responsibilities:

1. Making payment from Central Bank of Nigeria (CBN) Account using both the Remita (TSA) and GIFMIS platforms, and making necessary record thereof.
2. Safekeeping of paid and unpaid payment vouchers through effective filling system.
3. Maintaining and updating Cash Books for all the University’s Accounts from the Final Accounts Unit.
4. Preparation of weekly publication “Fund Sources and Utilization Report” (Money Matter) in the Unilorin Bulletin.
5. Liaising with other units in the Department for effective and efficient Bursary operations.
6. Raising of Journal Vouchers to cater for transactions not performed through payment vouchers.
7. Ensuring prompt posting of transactions into and safe keeping of all the Cashbooks.
8. Attending to the general needs of staff, students and the general public who are having contact with the University through the Unit.
9. Attending to the needs of various officers from the supervising agencies such as the Office of the Accountant-General of the Federation, Office of the Auditor-General of the Federation, the National Assembly, Federal Ministry of Education, Finance, etc.
10. Ensuring smooth and seamless Treasury by making prompt payment to all and sundry, based on the given approvals but subject to availability of funds.

SUB UNITS IN TREASURY UNIT
Treasury has two (2) sub-units, namely:
1.Treasury Record Sub-Unit
2.Treasury E-Payment Sub-Unit

TREASURY RECORD SUB-UNIT
As its name implies, Record Sub-Unit is responsible for receiving, generating, keeping, updating and transmitting payment vouchers/reports to Treasury E-payment Sub-Unit for payment, Centre Processing Office of Final Account Sub Unit for processing and Salary Loan and Advances for updating their advance/ loan records.

Security Documents in Treasury Sub-Unit
1.Payment Vouchers
2.Treasury Cash Books
3.GIFMIS Warrant lines
4.Treasury Journal Vouchers
5.Copies of Revenue Receipt
6.GIFMIS Overhead Budget Lines

Reports
Record Sub-Unit generates various reports.
1 Weekly cash analysis
2 Monthly, quarterly and yearly expenditure analysis
3 Other report as required either by management or external body i:e OAGF

TREASURY E-PAYMENT SUB-UNIT
Treasury E-Payment Sub-Unit is responsible for the payment, electronically via the internet, the payment vouchers received from Treasury Record Sub-Unit.
The payment is made from the Federal Government of Nigeria’s CBN Treasury Single Account (TSA) and Government Integrated Management Information System (GIFMIS) as follows:

CBN TSA:
The payment is made through REMITA platform for payment from:
1. Internally Generated Revenue Account (IGRA)
2. NEEDS Assessment Account
3. TET-fund Account

GIFMIS:
The payment is made through GIFMIS platform for payment from:
1. Overhead Account
2. Capital Account

REPORTS:
The reports usually prepared periodically by the Treasury E-Payment Sub-Unit include:
1. Weekly “Fund Sources and Utilization Report” (Money Matter) via E-Mail to Corporate Affairs Unit of the University for Weekly Publication in the Unilorin Bulletin.
2. Failed Transaction Report, at least, twice in a week for necessary action.
3. Monthly Statutory Deductions Schedule (such as VAT, WHT, Stamp Duty,) deducted by Unilorin and paid directly to FIRS. This monthly schedule is usually sent to the E-mail box of FIRS according to their request.