Bursary

The divisions are further structured into Units, namely:

Bursar’s Office/General Admin

The Bursar, being a Principal Officer of the Polytechnic, is the Head of Bursary Department. He oversees the activities of all the Units in the Department. He is responsible to the Rector on all financial matters in the Institution. The Bursar is ably assisted by a number of seasoned Accountants and Administrators who oversee the various Units in the Department. All incoming mails are processed in the Bursar’s Office before they are dispatched to the various Units for further action.

Students Accounts (CEC)

The Students Account (CEC) Unit is headed by a seasoned Accountant of high repute who doubles as the Head of Division/Unit Head. This Unit mainly deals with the part-time students on matters relating to the payment of school fees and other matters that are financial in nature.

Students Accounts (Full-Time)

This Unit is headed by an Accountant who ensures that all financial matters with regards to full-time students are well documented. In doing this, each student has a ledger with the unit through which their payment records are periodically updated.

Final Accounts

This Unit is manned by a seasoned Accountant who as well doubles as both Divisional and Unit Head. The Unit is the final destination of all the operations of other Units in Bursary where their activities and operations are reviewed and finalized. This section is directly saddled with the responsibility of preparing both Monthly and Annual Financial Statements.

Treasury

The Treasury Unit, otherwise known as Cash Office, is the Polytechnic Cashier/Treasurer. The general duties of the Cash Office are mainly, to receive and pay cash, keeping of all financial transactions in the cashbook, raising of relevant journals. The Unit is also being administered by a seasoned Accountant.

Finance

This Unit majorly handles the preparation of financial reports on weekly, monthly, quarterly and yearly basis and submits such report to the appropriate Authorities through the Bursar. The Unit is also being overseen by a seasoned Accountant.

Pensions/Staff Matters

The Unit is also being supervised by a seasoned Accountant of no mean reputation who is also a Divisional Head. The Unit handles all matters relating to former employees of the Institution like Pension Matters as well as matters relating to Staff Imprest on monthly basis, and processes Insurance Matters which include:
i. Group Personal Accident Insurance
ii. Student Welfare Insurance
iii. Motor Vehicle Insurance
iv. Fire & Special Perils Insurance, etc.

Budget & Budgetary Control

This Unit prepares various budgets for the Institution which includes, working budget, capital, overhead and personnel budgets. The Unit also coordinates Budgetary Control through the maintenance of Vote Books in line with the laid down policy. The Unit is being supervised by another seasoned Accountant.

Expenditure

The Unit is headed by a seasoned Accountant. This Unit coordinates budgetary control through the maintenance of Vote Books in line with the laid down policy. Also, the Unit is saddled with the responsibility of raising payment vouchers for not less than eighty per cent of various categories of expenditures in the Polytechnic.

Centre for Entrepreneurship Development and Vocational Studies (CEDVS)

Staffs from Bursary Department are posted to the Centre for Entrepreneurship Development and Vocational Studies (CEDVS) and are saddled with the responsibility of accounting for all activities in the Centre.

Salaries & Wages

The Salaries and Wages Section, which is otherwise known as Payroll Section, is saddled with the preparation of salaries and wages of all employees in the Institution. The Unit is also headed by a seasoned Accountant who is also a Divisional Head.

Loans & Advances

Loans and Advances Unit is responsible for the preparation of advances and staff loans. The Unit, like others, is being administered by a seasoned Accountant.

Checking & Reconciliation

Checking & Reconciliation Unit deals with the reconciliation of cashbook with the bank statements. If there is any discrepancy, they liaise with the bank with a view to putting the records straight. The Unit is manned by an Assistant Chief Accountant.

Central Store

This Unit is responsible for the physical keeping and issuing of all tangible assets of the Polytechnic such as stationery, office furniture and equipment, plant and machinery, etc. It is also saddled with the responsibility of keeping financial record of stocks through annual stocktaking. The Unit is being administered by a seasoned Accountant who is also a Divisional Head.

Purchasing

This Unit deals with all purchases of the Institution such as direct purchase, issuing of Local Purchase Order (LPO) to Contractors. In addition, the Unit also conducts market survey in order to guide procurement procedure. The Unit is being supervised by a seasoned Chief Executive Officer.

Obasanjo Centre for Engineering Innovation

The Polytechnic has her Presence in this Centre. A staff has been deployed to this Centre to ensure that proper records of Accounts of the Centre are kept.

Asset Management and Accounting Unit

This Unit is saddled with core functions of Maintenance of Property, Plant and Equipment (PPE) Register of the Institution. It registers and numbers all PPE acquired, prepares PPE schedule and notes to the Financial Statements, reconciles with the General Ledger balances for each class of Assets among others. The Unit was created in April 2019.