The Budget Unit of the Bursary Department, University of Calabar has organized a one day budget briefing for all Deans, Heads of Department, and Units.
The briefing which was to enlighten staff on the need to forward inputs to be incorporated into the new fiscal year Budget of the Institution was held at the University’s, Chinua Achebe Art Theatre.
Addressing Participants at the briefing, the Deputy Bursar (Budget), Mr. Ben J Itata called on members to provide inputs required to include staff position overhead cost, students Projection as well as Number of External Examiners/ Estimated cost and office furniture and equipment required.
Mr. Itata said that the inputs which will be incorporated into the budget of the institution will be presented to the Governing Council for approval, hinting that authorized officials may be required to defend their submissions accordingly.
While explaining the two types of payment which is GIMMIS and REMITTA, the Budget Officer disclosed that the University source of funding is very limited which is the reason the Internal Generated Revenue (IGR) of the Institution becomes dependent on the School Charges.
He said, while waiting for the Federal Government (FG) to improve on funds release to the University that staff should encourage students to make prompt payment of their school fees.
Mr. Itata further said that upon the payment of the school Charges, such funds will be properly appropriated for the over 12 Faculties and 105 departments.
He assured staff that FG in 2018 has promised the complete payment of shortfall adding that the institution is topping the list of Universities to be paid over the sum of 1.2 billion with 1.08 billion deductions for pension and National Health Scheme.
He also used the opportunity to expressed gratitude to the Bursar for supporting the organizers of the budget briefing and for the interest shown toward staff welfare.