Responsibilities

The Finance Division of the Tertiary Education Commission (TEC) is responsible for giving effect to the objectives set out in Section 6 of the TEC Act, which stipulates that the Commission has the power to:

“do such things as appear requisite and advantageous in furtherance of the objects of the Commission and may in particular:

1. Receive funds from the Government and raise funds from other sources for the provision and development of tertiary education;
2. Allocate funds to tertiary education institutions in the light of their annual and long term programmes;
3. Require tertiary education institutions to :
1. provide information and data on any matter falling within the Commission’s functions;
2. submit annual and long term plans; and
3. submit financial estimates and accounts, and prepare periodic reports, in such form as the Board shall determine; and
4. Appoint sub-committees and co-opt such persons to such sub-committees as it may deem necessary”.

Activities

In pursuance of the aforementioned responsibilities, the Finance Division undertakes the following core activities on an annual basis:

• Preparing, monitoring and reporting on the budget of the Commission.
• Advising on optimum use of resources in the Tertiary Education Sector.
• Preparing guidelines for budget preparation for the TEIs.
• Preparing, examining and making recommendations on budgets of individual institutions.
• Allocating recurrent and capital grants to the TEIs.
• Examining requests for recurrent and capital funds and releasing same to the TEIs.
• Carrying out investigation on financial matters.
• Providing advice to the TEIs, MoTESR&T and other related organisations on financial matters.

Staffing Structure

The Finance Division is headed by a Financial Controller who is supported by a Deputy Financial Controller and a Senior Financial and Operations Officer. Other support staff includes a Programme Officer ,Financial Operations Officers, Assistant Financial and Operations officers, a Cashier and a Clerical officer. A Confidential Secretary provides secrectarial services to the Division.