Overview

Introduction

The Financial Affairs Unit is the department responsible for managing the university’s financial resources and ensuring financial sustainability through precise financial planning, effective financial control, and efficient and transparent execution of daily financial operations. The unit aims to support the university’s strategic objectives by providing accurate and reliable financial reports that assist in administrative decision-making and implementing financial policies in accordance with best accounting practices and international standards.

Vision

To be a leading model in financial management within the educational sector, committed to the highest standards of transparency and professionalism, supporting the university’s growth and financial sustainability, and achieving institutional excellence.

Mission

To provide comprehensive and efficient financial management that ensures optimal use of financial resources, achieves financial stability for the university, adheres to transparency and accountability, and supports the university’s developmental and strategic plans.

Objectives

  • Ensure a stable and sustainable financial flow that enables the achievement of the university’s goals.

  • Implement advanced accounting systems that guarantee accuracy and speed in financial operations.

  • Strengthen internal controls to minimize financial risks.

  • Provide periodic financial reports that enhance transparency and support decision-making.

  • Develop a specialized and qualified team in the financial and accounting field.

Values

Transparency, integrity, professionalism, commitment, accuracy, continuous development.

Strategy

Focus on developing financial and technical infrastructure, adopting best practices in accounting and financial control, enhancing the capabilities of the financial team through continuous training, and providing innovative solutions that support sustainable and advanced financial management in line with the university’s vision.

Revenue and Treasury

Revenue Management

Revenue Management within the Financial Affairs Unit is responsible for collecting all financial resources entering the university, including tuition fees, income from academic and training programs, donations, and investments. The unit develops strategic plans to improve the collection process and ensure the accuracy of revenue-related operations, contributing to increasing the university’s resources and achieving financial stability.

The department’s tasks include monitoring the collection of fees and receivables in a timely manner, managing customer accounts, and ensuring proper documentation of all revenue-related financial transactions. The department also oversees compliance with financial collection laws and regulations and coordinates with academic and administrative departments to ensure smooth collection processes.

Treasury Management

The Treasury Management department plays a central role in ensuring the availability of sufficient financial liquidity for the university to meet all operational and investment needs. Its responsibilities include monitoring incoming and outgoing cash flows, organizing deposit and withdrawal processes, managing bank accounts, and maintaining financial records related to cash management.

Treasury Management aims to balance providing adequate liquidity for the university while optimizing the investment of unused funds to achieve the highest possible return within acceptable risk levels. The department also controls payment processes to ensure they are executed according to approved financial policies, while enhancing financial auditing of cash operations to safeguard university funds.

Accounts and Budget

Accounts Management

The Accounts Management department is responsible for accurately recording all daily financial transactions in accordance with approved accounting standards, ensuring the availability of correct and reliable financial information. The department’s responsibilities include preparing accounting entries, reviewing invoices, monitoring payments, and managing various accounts to guarantee the accuracy of financial data.

The department also performs periodic account reconciliations, monitors financial balances, and prepares internal and external accounting reports. Additionally, it collaborates with auditing entities to ensure compliance with financial standards and regulations.

Budget Preparation

Budget preparation is a fundamental pillar of the Financial Affairs Unit. The process involves collaboration with different departments to develop financial plans that reflect the university’s strategic objectives. Submitted budgets are reviewed to ensure alignment with available resources and operational plans, while guaranteeing fair and effective resource allocation.

The department monitors the execution of allocated budgets and analyzes the differences between planned budgets and actual expenditures, helping to identify areas that require adjustment or control in future financial plans.

Purchasing and Contracts

Purchasing Management

The Purchasing Management department is a cornerstone in ensuring the provision of materials and services necessary for the efficient and high-quality operation of the university. The unit organizes purchasing processes transparently and fairly by preparing purchase requests, overseeing bidding and tender procedures, and selecting suitable suppliers.

The department evaluates suppliers based on quality, price, and compliance standards, and ensures that contracts are executed as required, guaranteeing that the university’s needs are met at the best possible cost and quality.

Contracts Monitoring

The unit monitors the execution of contracts with suppliers, ensuring that goods and services are received according to agreed specifications and conditions. It coordinates with various departments to ensure the continuous and efficient supply of required materials.

Purchasing Management contributes to minimizing financial waste by improving procurement processes, implementing supplier performance evaluation methods, and periodically managing inventory.

Job Titles

Job Title Job Description
Director of Financial Affairs Leading and supervising all financial operations, setting policies and general financial strategies.
Head of Revenues and Procurement Department Responsible for collecting revenues, managing procurement, contracts, and financial receipts, ensuring liquidity availability when needed.
Head of Accounts and Budget Department Managing financial records, preparing budgets, analyzing financial statements to support decision-making.
Purchasing Officer Implementing purchasing processes, following up with suppliers, evaluating suppliers, ensuring commitment to contracts.
Accountant Recording financial operations, preparing monthly statements, following up accounts, and assisting in preparing financial reports.
Treasurer Managing daily cash operations, executing collection and payment operations, ensuring funds are safely kept in the treasury.

Team Members

Name Position Main Tasks
Najm Al-Din Ghaloun Director of the Financial Affairs Unit Supervising the unit, setting policies and financial strategies, coordinating with different departments.
Dr. Adnan Qarah Ali Head of Accounts and Budget Department Managing accounting records, preparing budgets, monitoring budget implementation, preparing financial reports.
Hisham Al-Jamal Procurement Officer Executing and managing purchasing processes, following up on requests and suppliers, submitting purchase orders, monitoring execution.
Mutin Ghaloun Accountant and Treasurer Recording accounting transactions, managing financial operations, executing collection and payment processes, monitoring daily treasury.
Rana Salman Assistant Accountant Supporting daily accounting, reviewing accounts, preparing monthly financial reports.
Sami Kamal Assistant Procurement Officer Preparing purchase requests, following up administrative procedures for purchases, coordinating with suppliers, monitoring suppliers.
Ali Mustafa Revenues and Procurement Officer Following up on revenue collection, managing accounts receivable, organizing daily financial receipts and treasury records.