UDSM Financial Regulations Revised UDSM (2019)
The University of Dar es Salaam was established in 1961 as a University College of the University of London. In 1963, it became a constituent college of the University of East Africa together with Makerere University College in Uganda and Nairobi University College in Kenya. In 1970, the University of Dar es Salaam became a fully fledged and independent University through the enactment of the University of Dar es Salaam Act, Act No. 12 of 1970, which was later repealed by the Universities Act, Cap 346 of 2005, of the laws of
Tanzania. Currently, the University is established and operating in accordance with the University of Dar es Salaam Charter of 2007 which is a legal instrument made under the Universities Act, and all other enabling legal instruments of the constituent colleges.
To conduct its business effectively, UDSM, like other organizations, needs to ensure that it has sound Financial Regulations in place and that they are strictly adhered to. These Financial Regulations aim at setting out the fundamental financial policies and procedures at the University of Dar es Salaam.
The primary objective of the Financial Regulations is to ensure the proper use, management and reporting of finances and resources in a manner which satisfies the University’s requirements for accountability, internal control, management of financial risk, and compliance with all legal or financial obligations laid down by the appropriate government authorities.
These financial regulations set out a broad framework of financial management systems, controls, and procedures adopted by the University of Dar es Salaam in order to ensure that its assets and resources are safeguarded and optimally utilised. The Regulations may be used in conjunction with other documents covering specific aspects of the financial operations. The regulations translate into practical guidance to the University of Dar es Salaam’s broad policies relating to financial control. These regulations apply to the University of Dar es Salaam.
These Regulations shall apply to all staff, units, departments, bureaus, centres, directorates, institutes, schools, colleges, projects, programs, and any activity undertaken by the University of Dar es Salaam as well as students, clients, suppliers, and other stakeholders.
These Regulations are in nineteen (19) substantive Parts and two (2) Appendices. All these are preceded by a preamble that sets the context for the formulation of these Regulations. Part 1 gives the title, date of commencement as well as key definitions and application of the Regulations. Part 2 addresses duties relating to key personnel in financial operations. Part 3 covers budget issues, while Part 4 covers income and expenditure. Part 5 covers issues of remunerations and Part 6 addresses procurement procedures.
Part 7 is on internal control and Part 8 addresses preparation of annual accounts and external audit, while Part 9 deals with payments in general. Part 10 prescribes the handling of imprests and petty cash payments while Part 11 addresses the handing over of property and accounting for goods, stocks, and stores.
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