The Department of Financial Affairs is one of the units of the Office of Administrative and Financial Affairs. The main task of the Finance Department is maintaining the growth and financial stability of the University through the provision of necessary financial funding on an ongoing basis. The Department is concerned with all aspects of financial revenues, including keeping records of students’ fees and tuition for each faculty, following-up with other revenues from the University Centers (languages – Consulting – training) or those relating to the University cafe and restaurant, in addition to sales of the University textbooks.
On the other hand, the Department of Financial Affairs follows up with the various expenditures and codifies and makes necessary measures to pay dues regarding the relevant deadlines. The Department exercises tighter control over all expenses, especially as regard to processing of accounting records to be presented to government officials. The financial department implements laws and rules related to financial procedures in the State of Libya in terms of deducting taxes and social security installments, paying income taxes and fees for various services such as electricity, water, and others.
The Department is also responsible for issuing the final financial statement for all accounts of the University (profit and loss – the income statement – Financial Center account, etc.) in the first month of each new calendar year.