Kibabii University came into being through the Kenya Gazette notice no 115 of 11th August 2011 and got its first batch of students in the year 2013. Being a new University, it faced myriad Challenges in terms of Financial management system, Government funding, infrastructure and human resource.
Finance department was one of the key departments formed in order to facilitate other daily operations of the University. It has grown in leaps and bounds with a few challenges which were brought in by the increase in student enrolment and new staff recruitment. One of the major challenge, the department has faced is lack of suitable financial management system with the capacity to churn out accurate reports for presentations to the various stakeholders majorly to the ministry of Education and the Auditor general.
Due to the demand for services by stakeholders, Finance department had to embrace a new system which interfaces all other departments to enable effective and efficient service delivery. Hence it prompted management to buy and install an Enterprise Resource Planning System (ERP). It was also required to buy other related accessories and equipment like servers,Computers and printers to enable the system to be operational. The process of implementation is ongoing and we expect that financial services will be offered optimally when full implementation is realized.
In its operational activities in tandem with public Finance management and other related Local, Regional and International accounting standards the department was sectionalized in order to enhance and strengthen the internal control systems. It has various sections mandated to carry out distinct functions which entail:
- Bank Reconciliation
- Budgetary and Budget control
- Final Accounts
- Student Finance
- Personal Claims
- Examination among others
As entrenched in the departmental vision of being appreciated and recognized in provision of efficient, effective and reliable services in University, we strive to provide financial services at the highest level to our stakeholders.