Finance & Grants
To provide grants and financial management services through collection, interpretation, and maintaining of financial information while providing quality customer service to both our internal and external clients. We strive to protect the financial integrity of TRUE in a changing regulatory and technological environment.
In the next 3 to 5 years, the Section will be known as a model for organizational efficiency and effectiveness that leverages:
- Integration of risk considerations to enhance decision-making processes and operations;
- Benchmarking to improve accountability, transparency and performance; and
- Professional expertise to deliver service and results on behalf of the TRUE’s internal and external clients.
The core service is to maintain grant compliance and reporting, including outcome measurement and grant budgets, taking responsibility for meeting high standards of effectiveness, timeliness, and completeness. Specifically, we endeavor to accomplish the following:
- Maintain, develop and improve as necessary all procedures to ensure all accounting transactions are properly recorded and that there are adequate systems of internal controlling.
- Prepare project reports for and assist Principal Investigators in the management of their budgets.
- Manage all the Unit’s accounts and to be responsible for them.
- Manage cash flows.
- Maintain up-to-date accounts for research grants
- Meet legal requirement in terms of tax payments
- Prepare reports and participate in the review of applied grants
- Ensure effective facilitation of financial audits and implement any audit recommendations.
Main Strategies for Achievement of the Vision
Main strategies for achievement of the vision for the Section include the following;
1. Facilitate the creation of a conducive environment for maintenance of professionalism in the Section;
2. Facilitate the strengthening of operational systems and infrastructure for efficient and effective execution of the finance mandate;
3. Add value with accurate, insightful and timely information, analysis and solutions that promote informed decision-making by management; and
4. Facilitate the strengthening of links between the Section and its users’ departments to leverage usage of its expertise in decision making on critical issues such as investment, cost management, and others.
Strategies for maintaining Operational Sustainability
In addition to the general strategies for providing outstanding financial management support to the Institution, the Section will also employ other strategies that will specifically target support TRUE’s sustainability efforts and protecting its longer term ambitions. Some of the strategies are as follows:
- Facilitate the establishment of an endowment fund to facilitate receiving of funds and generation of income intended to finance a portion of operating and capital requirements for the Institution;
- Promote the achievement of value for money through aspects such as effective procurement programmes, active budgetary control and conducting investment appraisals;
- Support the management of resources by reducing complexity and waste by simplifying business processes; and
- Adopt a full cost recovery strategy in the provision of the TRUE’ services.