The Department: Financial Administration
is an auxiliary department of the Central
University of Technology, Free State with the
following vision and mission:
Vision: To render an impeccable
financial administrative service, supportive of
the vision of the Technikon Free state to be a
high-quality technological university.
Mission: To render a financial administrative
service to the Central University of Technology
by utilising competent personnel and developing
norms, standards and systems to execute
operational processes and accomplish financial
performance.
Primary Functions Financial Administration performs the
following Primary Functions:
FINANCIAL CONTROL AND REPORTING
Expenditure Control and Provisioning
Administration The unit responsible for Financial
Control and reporting directs its activities
towards budgetary control and control over
expenditure. This includes the processing of
salaries and other compensation, asset
management, procurement, loans, investments as
well as control over the utilisation of
equipment.
The unit also reports to the Technikon
Council and the Ministry for Education on
financial matters that bears impact on the
Central University of Technology.
Administration of Financial Aid to
students The unit for the Administration of
Financial Aid to students renders support to
students in terms of bursaries and loans. With
dedicated staff extensive efforts are made to
create an environment where the anxiety for
financial burden is alleviated.
Promotion of Efficiency The primary function of the unit is to
promote financial efficiency in all functional
areas of the Central University of Technology.
The unit is also responsible for the recovery
of debts and to perform Responsibility
Accounting where special attention is devoted
to business units (Science Park, Research Fund
and External Funding Units) and cost centers
(including Hostel Accounting).
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