Finance Department

“Excellence and Integrity in Financial Stewardship”

Welcome to the Finance Department of Mbarara University of Science and Technology (MUST).
As a public institution established under the Universities and Other Tertiary Institutions Act, 2001 (as amended), our department plays a pivotal role in ensuring efficient, transparent, and accountable financial management. We are dedicated to supporting the University’s academic, research, and community service functions through prudent resource planning, effective budgeting, and compliance with public financial management laws and regulations.

Our Vision
To be a center of excellence in public financial management that enables sustainable growth and academic success at MUST.

Our Mission
To provide efficient, accountable, and transparent financial services that support the University’s mission of academic excellence, innovation, and community transformation.

Core Values
● Integrity – We uphold the highest standards of honesty and ethical conduct
● Transparency – We commit to open and clear communication of financial processes
● Accountability – We take responsibility for the financial resources entrusted to us
● Professionalism – We apply skills, knowledge, and best practices in all our work
● Service Excellence – We prioritize timely and accurate service delivery

Our Legal Mandate
Under Section 44 and 45 of the UOTIA, 2001, the Finance Department is mandated to:
● Oversee the financial planning and budgeting process
● Manage university funds, assets, and liabilities
● Prepare annual financial statements and reports
● Ensure compliance with public financial management regulations
● Advise the University Council through the Finance Committee on all financial matters
● Support audit processes and ensure internal controls are adhered to
● Supervise procurement and utilization of financial resources in accordance with the Public Finance Management Act and PPDA regulations

Organizational Structure
The department is headed by the University Bursar, who is the chief financial officer and reports to the Vice Chancellor and University Council through the Finance Committee. Key units
within the department include:
● Budgeting and Planning
● Treasury and Payments
● Student Finance Services
● Payroll and Compliance
● Projects and Grants Accounting
● Internal Controls and Reporting