The President receives delegation from the BOG for the management of the University and is responsible and accountable for the execution of the annual plan and corresponding budget. The President reviews and is accountable for the budget plans submitted by the Budget Supervisors of each Division. The President may delegate some of his/her duties necessary for such purpose to the Vice President for Financial Management, under the supervision of the Secretary General.
The University budget plans shall be compiled by the President before the beginning of each fiscal year, and must be approved at a BOG meeting. This shall also apply when any major changes are instituted to budgets plans.
After approval of the business and budget plans by the BOG, the Secretary General informs the University staff in order to enhance transparency and accountability regarding the next year’s business plan specifying budget priorities and implementation.