Pentecost University has held a training workshop for its staff on “ Standard Budget Preparation Principles “. It came off Wednesday, 18th November 2020 in the Phase II auditorium on PU campus.
The Chief Finance Officer of the University Mr Peter Oduro who opened the workshop said the purpose was to equip staff with the right understanding of standardized budget procedures in the university. This he said has become necessary due to changes in both external and internal factors that impact the University.
Mr Oduro said “the impact of covid 19, new vision and charter status and assumption of office of a new Vice-Chancellor have made it necessary for us to reorient our staff in many ways, including the standardized processes of preparing a budget in the University”
He added that the University has adopted a “bottom-up” approach to drawing the 2021 budget. This approach he said is necessary because it’s the individual staff who takes financial decisions for University and it’s, therefore, prudent for the individuals to budget their activities. “Colleagues, note that it’s not the Finance Office or Management that take financial decisions for the University, it’s the activities you carry out in your line of work, and this workshop is therefore organized to help you put income and cost elements on these activities” – Mr Oduro said.
He, therefore, charged staff to prepare the budgets at the individual levels and submit to their immediate supervisors who will consolidate them into subsidiaries for the Finance Office.
Mr Abraham Nyebar (ICAG), a Finance Manager at the PU Finance Office subsequently took staff through the actual budget preparation process. He admonished them to learn more about the procedures and seek clarification at the Finance Office when necessary.
Some staff who participated in the workshop expressed satisfaction with the outcome. Mr Nathaniel Nani in the Quality Assurance Unit, commented: “The workshop has equipped me with essential skills that will transcend the University to my personal life”.
Also, Mrs Freda of the Stores said: “The workshop is an eye-opener in many ways and I hope other units will do same so we get similarly mutual understanding of their processes as well”.