Budget, Expenditure and Control
Budget, Expenditure and Control Unit
The Budget & Planning Unit of Osun State University is responsible for the development, management and monitoring of the University's financial plans. The Unit works closely with academic and administrative departments to ensure effective allocation of resources aligned with institutional strategic priorities.
The Unit prepares financial estimates and expenditure reports for the University Governing Council, Office of the Accountant General of the State, State Budget Office and other regulatory agencies. It also maintains the University's fixed asset register for all institutional assets acquired.
Core Financial Responsibilities
Budget Development
Preparation and coordination of the University's annual financial estimates and strategic budget planning.
Resource Allocation
Ensuring effective distribution of financial resources to academic programmes, research initiatives and administrative functions.
Budget Monitoring
Monitoring financial performance and expenditure compliance across all University departments.
Asset Management
Maintenance of the University's fixed asset register and financial documentation.
Annual Budget Preparation Process
- Call circulars are sent to Deans, Directors and Heads of Departments requesting financial estimates for the upcoming fiscal year.
- Submitted proposals are collated, analyzed and adjusted to generate a preliminary budget estimate.
- Presentation and defence of draft estimates before the University Budget and Estimates Committee.
- Preparation of aggregate revenue and expenditure projections based on current financial performance.
- Submission of revised estimates to the Finance and General Purposes Committee (F&GPC) for Council recommendation.
- Presentation and defence of estimates before the State Treasury and House of Assembly.
- Communication of approved budget allocations to departments and operational units of the University.
- Preparation of monthly, quarterly and annual budget performance reports.
The Unit also performs additional financial monitoring and planning duties as directed by the University Bursar in accordance with institutional financial regulations and public sector financial management guidelines.
Units Under This Directorate
Budget & Planning Unit
Responsible for preparation, coordination and monitoring of the University's financial estimates and institutional budgeting framework.
Expenditure Control Unit
Ensures that all University expenditures comply with approved budget allocations, statutory financial regulations and audit requirements.
Contract & Service Management Unit
Responsible for managing procurement contracts, service agreements and financial commitments relating to institutional operations.