Finance Executive Officer

Mr. Masresha Gobere Shebie

Phone: +251911786503

 Email:  This email address is being protected from spambots. You need JavaScript enabled to view it. OR This email address is being protected from spambots. You need JavaScript enabled to view it.

Overview of the Finance Executive Office

The Finance Executive Office at Wolkite University is a core administrative unit responsible for managing the financial operations of the university. It ensures the effective and efficient utilization of financial resources in compliance with government regulations, institutional policies, and international standards of public financial management.

The office plays a vital role in budgeting, accounting, procurement oversight, financial reporting, internal control, and audits. It supports the university’s mission by providing timely financial services and strategic financial planning necessary for sustainable academic, research, and infrastructure development.

By fostering transparency, accountability, and prudent financial practices, the Finance Executive Office contributes to the overall institutional integrity and operational excellence of Wolkite University.

Objectives/Goals

1. Ensure Efficient Financial Management:

ü  To manage university resources prudently and ensure compliance with financial rules and procedures.

2. Promote Financial Accountability and Transparency:

ü  To establish effective financial reporting and auditing systems that promote institutional trust and accountability.

3. Support Strategic Planning and Decision-Making:

ü  To provide reliable financial data and advice for informed institutional decision-making.

4. Enhance Resource Mobilization and Utilization:

ü  To maximize resource generation and ensure optimal allocation aligned with the university’s strategic goals.

5. Strengthen Financial Systems and Capacity:

ü  To build institutional financial capacity through modern financial systems, training, and digital transformation.

Duties and Responsibilities

1. Financial Planning and Budgeting

• Coordinate the preparation of annual budgets in collaboration with colleges, departments, and administrative units.
• Monitor budget execution and ensure funds are used according to approved plans and priorities.
• Advise the university leadership on resource allocation and financial feasibility of projects.

2. Financial Operations and Control

• Oversee day-to-day financial transactions including payments, payroll, procurement, and revenue collection.
• Ensure proper documentation and filing of financial records.
• Enforce internal control systems to prevent mismanagement and fraud.

3. Accounting and Reporting

• Prepare accurate and timely financial reports, statements, and reconciliations.
• Ensure compliance with Ethiopian public finance regulations and university financial guidelines.
• Submit financial reports to the Ministry of Education, Ministry of Finance, and other relevant authorities.

4. Procurement and Asset Management (in coordination with Procurement Office)

• Monitor financial aspects of procurement processes and contracts.
• Ensure proper recording, valuation, and tracking of fixed assets and inventories.

5. Audit and Compliance

• Facilitate internal and external audits by providing necessary documentation and responses.
• Implement audit recommendations and ensure corrective actions are taken promptly.

6. Capacity Building and System Improvement

• Train finance staff in modern financial management practices, accounting systems, and use of financial software.
• Promote the use of digital systems to enhance efficiency and reduce errors.

7. Coordination and Communication

• Work closely with other executive offices, academic units, and government bodies to align financial operations with institutional priorities.
• Maintain open communication with stakeholders regarding financial status, challenges, and opportunities.