Treasurer Office

The Treasurer's Office at a university manages financial operations, including budgeting, revenues (tuition, donations), and endowment investments. It ensures efficient cash flow for daily activities, prepares financial reports, ensures compliance, and supports the institution’s financial health.

• Budget Planning, Management and Utilization

The Treasurer's Office oversees the preparation and implementation of the Institute’s budget. It ensures that resources are allocated efficiently to meet institutional goals. The office collaborates with other departments to determine funding priorities. Budget planning includes forecasting future needs and identifying various revenue sources. Regular reviews are conducted to ensure financial stability. Adjustments are made to accommodate unexpected expenses or changes in funding. The office ensures compliance with financial policies and regulations. It maintains transparency by documenting all budgetary decisions. Stakeholders are kept informed about the budget's status and allocations. This service supports the university's strategic financial planning.

• Fee Collection and Facilitation of Students

The Treasurer's Office handles the collection of tuition fees and other charges from students. It ensures that payments are processed accurately and timely. Multiple payment methods, such as online banking and over-the-counter at nearby banks, are provided for the facilitation of the Students. The office tracks pending dues and issues reminders by sending lists of  Fee defaulters to concerned departments for smooth recovery of outstanding fees and dues. Financial records are maintained on customized software for each student, ensuring transparency. Fee structures are updated regularly and communicated to all stakeholders. The office also facilitates refunds for withdrawals or overpayments. Scholarships and fee waivers are managed in collaboration with other departments. Efficient fee management helps sustain university operations. This service ensures a smooth financial experience for students and parents.

• Payroll Management and Employee Benefits

Managing the salaries and benefits of the Institute’s employees is a key responsibility of the Treasurer's Office. The office ensures the timely disbursement of monthly salaries. Payroll systems are updated to include new allowances, deductions, and taxes. Payroll records are maintained for audits and transparency. The office addresses employee queries related to salary discrepancies. It ensures compliance with labor laws (implementation of minimum wages) and institutional policies. Automated customized systems are used for smooth payroll processing. The office coordinates with HR for hiring and contract renewals. Efficient payroll management promotes employee satisfaction and trust.

The Treasurer's Office conducts regular financial audits to ensure accountability. Internal and external audits verify that funds are used appropriately. Compliance with governmental and institutional regulations is a top priority. The office prepares financial statements and reports for review. Audits help identify inefficiencies or irregularities in financial operations. Corrective actions are implemented to address any issues discovered. The office works closely with auditors to provide the required documentation. Transparency and accountability enhance trust among stakeholders. his process strengthens the university's financial credibility.

Three types of audits are being carried out at the Institute

1. Internal Audit (Pre-Audit of all the Payments by Resident Internal Auditor)
2. External Audit (Accounts are prepared by a reputable Chartered Accountant Firm)
3. Government Audit (A team from the Auditor General of Pakistan’s Commercial Audit Section carries out the Audit on a Yearly Basis)

The office manages procurement activities, ensuring cost-effective purchasing of goods and services. It collaborates with various departments to identify procurement needs. Vendors are selected through transparent bidding and evaluation processes by following PPRA rules. Contracts are negotiated to secure favorable terms and conditions. Payments to vendors are processed promptly to maintain good relationships. Records of all transactions are kept for accountability and audits. Procurement policies are followed to prevent fraud or misuse of funds. The office ensures the timely delivery of procured items and services. Regular reviews optimize procurement strategies and supplier selection. Efficient procurement supports the smooth functioning of the Institute.

The Treasurer's Office manages the Institute’s funds and investments to ensure financial growth. Funds are allocated to various accounts based on strategic priorities. Investments are made in secure and profitable options, such as TDRs or savings accounts. The office ensures liquidity to meet operational needs by allocating the Working Capital. Financial risks are assessed, and diversification strategies are implemented. Returns on investments contribute to scholarships, infrastructure, and development projects. Regular monitoring ensures that funds are used effectively and responsibly. Collaboration with financial institutions ensures optimal fund management. This service supports the university's financial sustainability and growth. The investment of Funds is made through competitive bidding, and A-rated banks are selected for the Investment. All investments are processed through an Investment Committee.

Facilitation  for Research Projects
The Treasurer's Office supports faculty and student research by allocating funds for approved projects. It collaborates with research departments to ensure proper budgeting. Expenses such as equipment, travel, and materials are covered. Financial records for each project are maintained for transparency and audits. The office ensures compliance with funding agency requirements. It facilitates the disbursement of funds in phases, based on project milestones. Collaboration with external sponsors and agencies may also be managed. Efficient financial support encourages innovative research and development. This service contributes to academic growth and reputation.

The Treasurer's Office manages scholarship funds and financial aid programs for students. It works with admissions and academic departments to identify eligible and deserving candidates. Disbursement of scholarships is handled efficiently and transparently. Records are maintained to track the usage of scholarship funds. The office ensures compliance with scholarship policies and donor agreements. Financial aid programs are promoted to reach deserving students. Collaboration with donors and sponsors helps expand scholarship opportunities. This service reduces financial barriers and promotes inclusivity in education. Efficient management of financial aid reflects the university's commitment to student success.