Treasury Section

Employees:

 

 

 

 

Responsibilities:

• Receiving the funds from the Ministry of Finance, and preparing and distributing sub-loans for the different colleges, centers and departments at SQU.
• Preparing and sending Petty Cash payment vouchers to the auditing department for approval.
• Issuing cheques to compensate the colleges, centers and departments for their expenditures.
• Preparing and sending payment vouchers to the Ministry of Finance to replace the amount has been deducted from the budget.
• Prepare monthly comparison statement with the statement of bank account.
• Preparing and assisting the inventory committees to carry out their annual inventory.
• Process temporary loans applications received from the colleges, centers and SQU’s departments, and issuing cheques with the required amounts after the approval the Budget Section.
• Following-up and coordinating with the colleges, centers and departments regarding the settlement of their temporary loans.
• Monitor and review the expenditure from the temporary loans and then forwarding the statement to the Auditing Section for assessment.
• Prepare payment vouchers for expenditure from petty cash loan by colleges/centre/department and forward them to the Ministry of Finance for necessary reimbursement of the amount which have been spent from the temporary loans.
• Receiving cheques from the Ministry of Finance against the payment voucher prepared.
• Transferring the money received from the Ministry of Finance against payment voucher to the respective beneficiaries through the bank accounts or by issuing cheques. These amounts include:
• Paying down payments (advance salary) for new expatriate employees.
• Entering the new employee’s accounts into the Pay-roll System.
• Returning the amounts of money to the Ministry of Finance and prepare the necessary cash vouchers accordingly.
• Receiving the amounts of money from the companies working at SQU regarding their consumption of electricity and water.
• Receiving the amounts of penalties, if any.