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Budget

ALDAR University Policy Library

FISCAL SOURCES, FINANCIAL MANAGEMENT, AND BUDGETING
Budget

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The Fiscal year of the ADUC starts from January 1 to December 31.

The Budget takes into account the requirements of all the functional units of the ADUC. The heads of each unit forward the budget requirement to the planning and Budgeting Committee chaired by Finance & Administration Director. The budget recommendation is then discussed with the President, and the final consolidated Budget is prepared. 

The Budget includes but is not limited to the following:

  1. Short and longer-term institutional planning
  2. Estimates of enrolment and other sources of revenue,
  3. Accurately reflects the individual program and departmental budgets,
  4. Staff hiring plans,
  5. Physical resources needed to support each activity,
  6. ADUC has long-range and annual planning and budgeting that include routine, preventive, planned and deferred maintenance of all its premises, 
  7. Contingency funding.

The President submits the budget to the Board of Trustees for discussion and approval of the forecasted Budget for the next fiscal year, not later than December 15 each year.

The actual result is compared with the forecasted Budget regularly and submitted to the President and the Head of each unit. 

 

In case of modifications, reallocation of the budget amount is required among various departments; the department heads will seek approval from the President. 

The President presents a revised budget proposal to the Board of Trustees with proper explanations for approval. 



FINANCIAL REPORTING MOE

The ADUC provides the MOE and the CAA, as requested, with all budgets, financial statements, reports, and external audits and prepares additional financial reports if requested.

 

BRIBE AND CORRUPTION 

  1. ADUC is committed to conducting business ethically and honestly.
  2. This policy applies to all employees
  3. The ADUC expects all employees to:
    1. Conduct business honestly without any corrupt practices or acts of bribery to obtain an unfair advantage.
    2. Act professionally, fairly, and with integrity in all business dealings and relationships within ADUC, with students, outside providers, vendors, and associate businesses.
    3. Abide by the confidentiality rule and avoid the release of ADUC information to unauthorized persons.
    4. Refuse any payment, gift, service, or hospitality that could be construed as a bribe. 
    5. Avoid creating or appearing to create an obligation on others to offer inducements.
    6. Avoid conducting business on behalf of ADUC with family members or receiving gifts/loans from third parties doing or planning to do business with ADUC
    7. Report breaches of this code, particularly notifying their Heads if they believe they are the subject of an attempted bribe or suspect that bribery or corruption occurs within ADUC. 

 

Consequences of Violation

Any employee of ADUC who violates this policy may be subject to disciplinary action, up to and including dismissal, as per policy and procedure.