The Financial Directorate was established concurrently with the founding of Tafila Technical University in 2005. It serves as the University’s primary authority responsible for all financial matters, ensuring the integrity of financial transactions and procedures. The Directorate manages the collection of University funds, oversees the collection of internal and external revenues, and fulfills the University’s financial obligations in accordance with the University Law, regulations, instructions, and issued decisions. It is also responsible for preparing the University’s general budget, monitoring its implementation, and producing daily, monthly, and annual financial reports.

Vision

To achieve distinguished financial management that keeps pace with technological and economic developments in support of the University’s strategic objectives.

Mission

To enhance the administration of the Financial Directorate and improve services by relying on highly qualified human resources and utilizing advanced electronic financial systems to strengthen the University’s financial stability.

Objectives

• Maximize and sustain financial resources.

• Contribute to effective financial risk management.

• Control operational and capital expenditures.

• Meet the University’s future financial needs while adhering to budget allocations.

• Provide accurate accounting data to support informed decision-making.

Core Values

• Commitment to the highest standards of honesty, integrity, objectivity, and transparency.

• Adherence to professional ethics.

• Effective decision-making.

• Professionalism and accountability.

• Teamwork and collaboration.

• Achievement and excellence.

Challenges

• Shortage of specialized and qualified human resources.

• Continuous need for updating and developing computerized financial systems to align with changes in applicable laws and regulations.

• Sustained growth in operational expenditures alongside limited revenues, which are closely linked to tuition fees.

Organizational Structure of the Financial Directorate

1. Payroll Division

• Processing allowances and deductions for academic and administrative staff.

• Preparing payroll vouchers and transfers for staff salaries.

• Handling employee deductions and transferring related funds.

• Issuing annual tax statements for employees.

• Liaising with official institutions regarding salaries, entitlements, and obligations (e.g., unions, courts, Agricultural Credit Corporation, Orphan Funds, etc.).

• Communicating with banks regarding salary transfers and related obligations.

2. Expenditures Division

• Disbursing payments to companies or individuals for contracts, purchase requests, or direct procurement according to authorized procedures.

• Managing student payments (tuition balances, refundable deposits).

• Processing advances, conference allowances, official missions, hospitality, and research-related expenditures.

• Disbursing overtime payments for academic and administrative staff.

• Retaining performance guarantees for maintenance until obligations are fulfilled.

• Preparing and printing approved payment checks.

3. Special Funds Division

• Processing refundable advances from the savings fund for eligible staff.

• Disbursing end-of-service and savings fund entitlements for resigning employees.

• Allocating 50% of savings and end-of-service funds according to regulations and available liquidity.

• Recording monthly bank entries (interest).

• Collecting and reconciling employee contributions.

• Issuing annual end-of-service rewards for staff appointed after 1/1/2013.

• Preparing and printing checks for fund beneficiaries.

4. Budget Division

• Preparing the annual University budget for approval by the relevant councils.

• Performing monthly bank reconciliations.

• Monitoring University revenue and expenditure continuously.

• Ensuring expenditures do not exceed collected revenues.

• Preparing monthly financial reports and aligning them with budget items.

• Preparing the University’s final accounts and submitting them to the Ministry of Higher Education for approval.

5. Revenue Division

• Collecting University revenues and monitoring the collection of tuition fees.

• Preparing financial claims for scholarship sponsors and coordinating collection efforts.

• Managing fee procedures for children of University employees.

• Facilitating electronic payment methods for students.

• Issuing clearance certificates for graduates and withdrawn students and disbursing any outstanding balances.

• Performing monthly bank reconciliations of collected revenues.

6. Internal Audit Division

• Auditing and approving payment vouchers and entries from other financial divisions (Expenditures, Payroll, Scholarship Funds, Special Funds).

• Monthly payroll auditing to ensure accuracy and compliance.

• Conducting surprise inspections of the main cash fund and subsidiary funds.

• Auditing monthly reconciliation statements.

7. Social Security Division

• Performing annual and monthly social security reconciliations.

• Managing employee status updates in accordance with regulations.

• Monitoring installment agreements with the Social Security Corporation and ensuring timely payments.

• Tracking monthly contributions and compliance.

8. Scholarships & Monitoring Division

• Following up and implementing scholarship decisions issued by the Deans’ Council and approved by the University President.

• Managing monthly allocations, tuition fees, medical insurance, and thesis allowances for scholarship students.

• Monitoring scholarship students’ files and duration of commitment.

• Calculating amounts disbursed and penalties for non-compliance with scholarship obligations.

• Preparing and monitoring payments for external examiners.