Office of the University Treasurer
The Office of the Treasury is responsible for directing, overseeing, and managing all banking relations, investing operation funds, and financial reporting for cash, investments, and bonds, while limiting risk to the University. The Treasury ensures timely debt service payments by providing liquidity for operations and maintenance of a healthy cash position; and directing the financial functions of the organization towards the achievement of its strategic objectives, ensures that the organization complies with existing policies, financial regulations and laws and liaises with and supplies information to internal and external audit teams to assist with best practices and financial statement preparation/verification. The Treasury also provides financial reports regularly to governing committees and supports the Office of the President in the submission of periodic quarterly, semi-annual Financial Reports as part of the University’s submissions to the parent ministry.
Per the CMU Act 2017, and as a Senior Executive Manager, the Treasurer is responsible for the financial stability of the University and is the chief advisor to the President, Council and the Audit and Finance Committee on financial matters. In addition, the Treasurer assists with planning the capital and operational needs of the University, Budget approval of transactions and review of project documentation and Cash flow projections. Per the Act, a Bursar / Deputy Treasurer plays a role in supporting the Treasurer in executing the operational affairs of the Treasury.
Departments
Payroll
taxes, staff deductions, uniform allowances, accrued leave, gratuity, and retroactive payments. Annual returns to GOJ, TCC, and staff queries.
Accounts Payable
reimbursement, students and external customers & suppliers, both for CMUs funded operations and special projects, reconciles suppliers’ accounts, manages the vendor relationship of more than 600 vendors.
Financial Reporting
The Financial Reporting unit is responsible for the production of the monthly, and annual financial reports and management of the external audits.
Billing and Collections (Accounts Receivable)
The Billings and collections unit (Accounts Receivables) is responsible for the generating of invoices and collection of tuition and other fees from students, SLB, concessionaires, scholarship sponsors, and other entities that CMU provides goods and services. Interfaces with students and their guardians, staff, and external customers, assist with accounting queries, document processing, refunds and scholarships, face to face and email interaction.
Public Procurement Services
Adheres to the Government of Jamaica Public Procurement Policy, under the Public Procurement Act 2018 and through the Procurement Support Unit (PSU). the PSU is responsible for the procurement at all Tiers (1, 2 and 3) in accordance with the Act to provide timely and satisfactory goods and services, submission of zero-rated General Consumption Tax (GCT) exemptions and GCT Returns, Integrity Commission quarterly contract reports and to support the proper maintenance of vendor relationships that ensure an optimal value-for-money framework.
Management Team
Vice President Finance/University Treasurer: Eton Chin, BSc, EMBA
Contact: echin@cmu.edu.jm.
Bursar/Deputy Treasurer: Amanda Nembhard
Contact:
anembhard@cmu.edu.jm