Introduction

The Department of Finance at Al-Kawthar University is responsible for managing and overseeing all financial and accounting functions of the University. The department plays a central role in ensuring financial discipline, transparency, and effective utilization of resources in support of the University’s academic and administrative objectives. Through structured financial planning, budgeting, reporting, and the use of modern financial systems, the department ensures compliance with applicable regulations and supports informed decision-making across the institution.

Aims and Objectives

The Department of Finance aims to provide efficient, reliable, and high-quality financial services to support the University’s strategic goals. Its objectives include preparing and managing annual budgets, ensuring accurate financial reporting, maintaining strong financial controls, and safeguarding University funds. The department is committed to ensuring timely collection of revenues, proper disbursement of payments, cost-effective procurement, and compliance with statutory, regulatory, and audit requirements. It also seeks to provide sound financial advice to University management and continuously improve financial processes through the use of modern technology and best practices.

Responsibilities

The Department of Finance is responsible for the overall financial management of the University, including accounting operations, budget preparation and monitoring, payroll management, fee collection, and financial reporting. It oversees the management of University funds, including development, self-finance, research, provident, pension, and other statutory funds, while ensuring proper record-keeping and reconciliation of accounts. The department manages procurement and payments to ensure accuracy, transparency, and value for money, and coordinates with internal and external audit bodies to maintain financial accountability. Additionally, it supports University leadership by providing financial analysis and advisory services and ensures that financial systems and processes are continuously improved through effective use of information technology.