Prof. Daniel Tarus
The Finance Division is under the Deputy Vice Chancellor, Finance and acts on behalf of the Vice Chancellor in managing the financial resources of the University.
The Division implements the policies, procedures and directives issued by the University authorities (Council and Management) from time to time. These policies are binding and impact on all the University activities.
The Finance Division consists of the following department:
1. Finance Department
2. Procurement Department
3. Internal Audit Department (for operation and administration only, otherwise for the executing of their mandate the department reports directly to the Moi University Governing Council- MUGC).
The Finance Department is under the stewardship of the Finance Officer. The Finance Department in bestowed with the responsibility to manage the Financial resources of the University effectively and efficiently.
The Finance Department’s key roles include the following:
i) To maintain a comprehensive accounting system for the University that ensures that all revenues, expenditures, assets and liabilities of the University are properly accounted for;
ii) To prescribe specific accounting procedures that shall be followed by the University in accounting for its finances;
iii) To advise and assist the University in handling accounting and reporting problems and recommend system revisions in tandem with changes that occur from time to time. These system changes are designed to improve reporting and provide the University Management with accurate and timely information for efficient and effective decision-making.
Internal Audit Department
The Internal Audit Department is under the Chief Internal Auditor. The Internal Audit is maintained and supported in terms of its independent assurance and consultancy function to examine and evaluate the University’s activities. The primary objective of the Internal Audit Function is to assist Management and the Council in the effective discharge of their responsibilities. The Department will furnish them with reports containing analyses, recommendations and counsel.
The Internal Audit function includes:
i) To Conduct work in accordance with the Standards for the Professional Practice of Internal Auditing and Code of Ethics promulgated by the Institute of Internal Auditors as well as other professional auditing standards that may be applicable;
ii) To follow up on External Auditors and regulatory agencies’ reports and recommendations;
iii) To conduct special projects or studies as requested by Management.
The Procurement Department is under the leadership Senior Procurement Officer. The Procurement unit is responsible for provision of goods and services to the University thus supporting it in achieving its desired Mission, Vision and Objective. The Procurement Unit is always guided by the Public Procurement Act and the University rules and regulations.
The Procurement Department functions include the following:
i) To maintain and update annually standing lists of registered tenderers required by the procuring entity and liase with them;
ii) To prepare, publish and distribute procurement and disposal opportunities, including invitations to tender, pre-qualification documents and invitations for expressions of interest;
iii) Propose the membership of evaluation committee to accounting officer for approval;
iv) Coordinate the evaluation to tender, quotations and proposals;
v) Recommend a negotiating team for appointment by the accounting officer where negotiations are allowed by the Act and those Regulations and participate in such negotiations;
vi) Prepare and publish notices of award and notices of tender acceptance;
vii) Co-ordinate the receiving and opening of tender documents;
viii) Maintain and safeguard procurement and disposal documents and records in accordance with these Regulations;
ix) Issue procurement and disposal documents to candidates;
x) Prepare contract documents in line with the award decision;
xi) Prepare and issue rejection and debriefing letters.