Financial Planning & Control/Cost Accounting

The Operations team at the Finance Office is involved in:

Budget Preparation – Recurrent Expenditure

• analysing and quantifying of cost centre's requirements
• comparing and assessing against historical data
• incorporating requests in draft estimates
• compiling of staff budgets:
• • resident academic stream
  • visiting academic stream
  • administrative and support staff
  • Junior College academic staff
  • casual staff
  • internal servicing by UM staff
  • internal servicing by JC staff

• compiling operational and maintenance budgets
  
• compiling other special budgets
• submitting draft estimates for approval
  
  

Budget Monitoring & Control – Recurrent Expenditure

• notifying budget holders about approved budgets
• uploading approved budgets in Agresso
• monitoring expenditure against approved budgets
• revising and updating budgets:
• • monitoring recruitment and resignations against approved budgets
  • monitoring overtime requests against approved budgets
  • monitoring casual and additional work against approved budgets
  • updating staff movements
  • monitoring expenditure against operational & maintenance budgets.

Reporting  to Government and Government Entities

• compiling monthly cashflow projections for recurrent expenditure against the government allocation to Ministry of Education & Employment and the Ministry of Finance
• compiling various questionnaires for NSO:
• • quarterly questionnaires on government finance
  • annual questionnaire on government deficit & debt Levels
  • annual questionnaire on balance of payment.
  • annual questionnaire on research & development.
    
    

Administration of the Research Funds through the Research Fund Committee

• collecting applications and submitting them to the Committee
• notifying applicants with regard to approved allocations
• vetting purchase orders against approved projects requirements
• monitoring expenditure against allocations

Financial Accounting

Payments and Cash Office

• issuing receipts for payments received
• processing payments due to local and foreign suppliers
• identifying and allocating to correct Departments the receipts/payments received on bank statements
• paying petty cash claims to Departments, individuals, and visiting academics
• reconciling bank accounts via Direct Data
• monitoring the payments received into Euro bank account (research grants)
• banking all cash and cheque income including foreign currency/cheques

View the Cash Office opening hours.

We accept payments by Cash / Cheque. Payments should be accompanied by supporting paperwork i.e. invoice / remittance advice / Cash summary voucher.
 

Billing/Revenue

Our Billing/Revenue section is responsible for issuing student and commercial invoices and ensures that these invoices are settled within the allowed credit period. We assist current and potential fee-paying students with any queries they may have with regard to course fees and their settlement.

View the full details on course fees and related policy guidelines.
 

Do you have any suggestions or queries?
Call +356 2340 3164 or send us an email.