In accordance with the State Corporations Act, Cap 446, Section 11 & 12 and the Public Finance Management Act, 2012, Section 68, UoE was called upon to prepare and submit its annual budgets to the parent Ministry and the National Treasury for approval on Friday, 24th August, 2018. The University successfully defended its realigned budget in the presence of the University Vice-Chancellor Prof. Teresa Akenga, Chairman of Council Dr. David Ojakaa, DVC (PRE) Prof. Phillip Raburu, Ag. Finance Officer Barnabus Agar and Council Member Ms. Zipporah Mogaka.
In line with the National Treasury Chairman Mr. Henry Mutwiri, he highlighted the importance of realigning the budgets for 2018/2019 FY, and reiterated that it was aimed at positioning UoE with the ‘Big Four Agenda’ of the government. Mr. Mutwiri confirmed that the government has allocated the University some funds, and basing on the budget expenditures it was evident that UoE had realigned its budget in accordance with the Ministry allocation, and had realigned its expenses in line with the approved income.
Moreover, the chairman gave all the continuing projects a clean bill, and noted that they were allocated funds as per the allocated funds for capital development from the Ministry and A.I.A.
However, Mr. Mutwiri called upon the University to correct the total cost for the School of Economics and Business Management complex and other on-going projects to include the funds allocated in the 2017/2018 financial year. It was thus agreed that the adjustments be made and a forwarding letter drafted to submit the realigned budget to the national treasury and other relevant bodies.
The University Vice-Chancellor on her part welcomed the realigned budget review process, and highlighted that UoE is in compliance with all the Ministry allocation and its mandates are streamlined to meet the ‘Big Four Agenda’. She further reiterated that the UoE will work to ensure that the pending corrections are addressed.