Section 19, The Universities Act, 2005

Each University shall have a Finance Director, who shallbe appointed by the Court and who, under the supervision of the Vice-Chancellor and Principal, shall– (a) administer the university funds in accordance with such financial management policy as may be prescribed by the University; (b) prepare the annual budget and financial report to be submitted to the Court by the Vice-Chancellor and Principal, and (c) advise the Vice-Chancellor and Principal on all financial matters.