Emmanuel Edukugho
11 December 2008
Acknowledging the consequences of improper management of funds as well as the fact that most institutions in the polytechnic system are constrained financially, the Bursars' Association of Polytechnics and Colleges of Technology (BURSCON) is out to evolve means of bringing about positive changes.
Mrs. Charis Abiodun Akinsanya, President, BURSCON, expressed commitment and determination of the body to continue playing its noble role in ensuring prudent financial management in tertiary educational institutions to facilitate scientific and technological development of Nigeria.
Delivering an address at the opening ceremony of the 8th Regular Meeting of BURSCON, held at the Federal Polytechnic, Ilaro, Ogun State, recently, she said that the only way out is to "bring to fore our financial management expertise in order to assist our Chief Executive Officers (i.e. Rectors) in the utilisation of funds available to achieve the pivotal roles/objectives of providing technological manpower for the country."
Cognisance was also taken of the massive increase in the population of students admitted into tertiary institutions in Nigeria, and the increasing over-head cost which made it expedient to evolve means of managing the hitherto insufficient funds.
"It was the recognition of these problems amongst others, that necessitated the coming together of bursars as stakeholders in the education sector in the country to deliberate on issues relating to the management of funds, be it government allocations, subventions and internally geneated revenue for maximum benefit," Akinsanya explained.
She told the bursars that the meeting, undoubtedly, has afforded them the opportunity to rub minds, exchange ideas, create a forum to promote organisational relationships among member institutions and where best accounting practices are arrived at for financial operations of member institutions.
The BURSCON president said its mission is to come together for exchange of ideas, using the vast experiences in the private and public service sectors to enhance the financial administration of the institutions with a view to bringing about positive changes in the education sector.
"We aim to protect the financial interest of staff, students and the entire community we serve. Our coming together is not just to serve as a pressure group but to be a formidable force whose opinions on financial management of tertiary educational institutions would be respected in the country."
The following goals of the association were listed:
*to serve as a national forum where information and ideas on modern financial techniques will be exchanged among members and the general public;
*to assist members in realising their professional goals through participation in training and developmental programme;
*to promote excellent financial practices among managers of funds in the polytechnic sub-sector;
*to reduce to the barest minimum leakages and inefficiency within the system;
*to provide professional support to bursars and other staff in the bursary;
*to identify and communicate opportunities that will impact on our financial operations in respect of accounts receivable, cash collections, funds distribution and students accounts;
*to explore means of improving on the polytechnic's internally generated revenue and give valuable advice on its sustainability.
Akinsanya declared: "We intend to achieve these goals through regular meetings, participation in training and development programmes, playing active roles in our professional bodies (local and international), financial counselling services, regular attendance at workshops, seminars, conferences and training of bursary staff across the nation on novel accounting skills."
Mr. Sina Adepoju, Bursar, Federal Polytechnic, Ilaro, said the meeting is a unique one as it expects to deliberate on how to move the polytechnic forward and fashion out ways in improving finances of the institution at a time when the finances continue to dwindle even at a time of carrying capacity restriction.
Comrade L.A. Akeju, branch chairman, Non-Academic Staff Union (NASU) of Federal Poly, Ilaro, in his goodwill message, noted that the financial management in every institution lies with the bursar and if he fails in performing this fundamental function, it can be disastrous.
"Hence, there is a need for a change and orientation in our financial system. The unprofessional attitudes of some bursars in our institutions need to be addressed where money meant for the development of the organisations are diverted to their private accounts."
Akeju reminded bursars that officials of the Economic and Financial Crimes Commission (EFCC) are prowling and looking for whom to catch.
"I pray none of us will be their victim."
He congratulated Dr. Raheem Adisa Oloyo, Rector, Federal Polytechnic Ilaro, for being the chief host of the BUSCON meeting, the first ever held in the institution.
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