Introduction
With the inception of University of Health30px Sciences, Lahore in September 2002 after the promulgation of UHS Ordinance 2002, the Finance Branch of the University came into existence. This branch was assigned the vital tasks of preparation of budget, maintenance of accounts of receipts and expenditure and enforcement of strict financial discipline. This branch was to play a colossal role in the development and ramification of the University. The financial control on the expenditure of a newly established entity is vital.
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Working
This Branch undertakes different activities with regard to the University. All accounts of the University have been computerized and the accounts regarding receipts and payments of the University are maintained in a manner prescribed by the Government. The receipts and expenditure are reconciled with Treasury Office, Lahore and bank statements on monthly basis. An expenditure statement is prepared on monthly basis and sent to Vice Chancellor and Health Department for information.
The Finance Branch also pre-audits the payment of remunerations to the paper-setters, paper-assessors, examiners etc. It also deals with the refund cases of the students. All payments relating to salary, T.A., D.A. etc. of the employees of the UHS are made by the Finance Branch of the University. This branch is also responsible for coordinating the conduct of statutory audit and the replies of audit paras afterward.
Last but not the least, a sound financial system equipped with internal controls and plausible financial management can prove an iron wall against internal and external threats to a public sector entity.
