Get Adobe Flash player

 

THE COLLEGE BURSARY


You are welcome to the webpage of the Bursary Department, Federal College of Education, Abeokuta, Nigeria. The Bursary Department is the treasury arm of the College responsible for the installation and maintenance of proper system of accounts subject to the general supervision of the Accountant General. The Bursary is entrusted with the receipt, custody and disbursement of the College funds and maintenance of such books of accounts as may be prescribed by the Accountant General of the Federation and the transactions, which are subsequently embedded in the final accounts rendered by the Accountant- General.


The Bursary through the application of sound financial management manages the institutions’ finance resources efficiently and effectively. We are committed to providing efficient services that support the vision and mission of the institution. The department believes in dynamism in its service delivery to the College Community and other stakeholders.


The Bursary Department is headed by a College Bursar who is directly responsible to the Provost who in turn is the Chief Accounting Officer of the College. The name of the current Bursar is Mr. A.O Alabi.

 

College Bursar’s Profile
Mr. Alabi joined the service of Federal College of Education, Abeokuta on 1st October, 1992 as Accountant I. He rose through the ranks before he assumed office as the College Bursar on 1st August, 2013.


Mr. Alabi Aderele Olatunji a native of Odo-Otin, Osun State. He had his Primary school education at St. Peter African Church Primary School, Oyan, Osogbo (1968-1975), and Secondary education at Oyan Grammar School, Oyan-Osogbo (1975-1980).


After obtaining his National Diploma in Accountancy and Higher National Diploma in Accountancy from Ogun State Polytechnic between (1980-1987), he proceeded to the University of Ado-Ekiti for his Master’s Degree in Business Administration (2012).


He has attended Conferences, Seminars and Workshops both at National and International levels. He is a member of various Professional bodies some of which are; Association of National Accountants of Nigeria (ANAN) Chartered, Fellow of Institute of Public Management Nigeria. He has received many merit/honour awards some of which are; Fellowship Award, National Association for the Promotion of Studies in Religious, Education, Languages and General Studies, Certificate of Honour as Grand Patron Diocese of Egba, Zion Africa Parish Church Olowo town, Orile-Ilugun Ogun State.


Office of the Bursar


The Office of the Bursar is the Central Office of Bursary as well as the coordinating unit from other organs of the College.
The Bursar is the Chief Finance officer of the College and coordinator of all activities of the Units, Divisions and Sections in the department. The Bursar as the custodian of financial regulations of the College ensures compliance with such rules by all stakeholders and offers advice on financial matters to the appropriate authorities.


The Deputy Bursars who are heads of the unit are responsible to the Bursar for the running of their units and render progress reports as appropriate.
Divisions in the Bursary Department
The department is sub-divided into the following operational units and each of them is headed by a Deputy Bursar.

  1. Financial Accounting
  2. Funds Management and Budgets.

Financial Accounting
The General Responsibilities of the Unit are to maintain the College books of account and keep accurate record of all transactions. To produce year – end financial statements and monthly management accounts. The unit is divided into the following sub-units:
- Ledger and Final Accounts.
- Bank Reconciliation
- Payroll and Statistics
- Treasury
- Staff Loans and Advances


Funds Management and Budgets:
The functions of this unit are to monitor investment opportunities and advise as appropriate. To anticipate surplus funds and advise on how to invest the funds for the College’s benefit.

The sub-units under funds management are:

  • Budget and Planning
  • Pension and Gratuity
  • Insurance Matters
  • Investment
  • Stores and Supplies.

Computerization of the Department
The department is fully computerized. School receipts and other transactions are processed electronically.