Finance Department

The Finance Department of Ethiopia Adventist College (EAC) is committed to maintaining the highest standards of financial management, accountability, and transparency. Guided by the College’s mission of “Education for Service,” the department plays a vital role in ensuring that all financial resources are effectively managed to support the institution’s academic and operational excellence.

The department serves as the backbone of EAC’s administrative and financial systems — overseeing budgeting, accounting, treasury management, payroll, procurement, and student financial services.

Vision

To be a model of excellence in financial stewardship and accountability within higher education institutions in Ethiopia.

Mission

To manage and safeguard the College’s financial resources with integrity, accuracy, and professionalism, ensuring efficient service delivery to all stakeholders in alignment with institutional goals and national financial standards.

Core Objectives

Ensure transparency, efficiency, and accountability in financial management and reporting.
Support effective budget planning and execution aligned with the College’s strategic priorities.
Maintain accurate and timely financial records in compliance with national and institutional regulations.
Provide quality financial services to students, faculty, staff, and external partners.
Strengthen internal financial controls to promote trust and sustainability.
Facilitate effective decision-making through financial data analysis and reporting.

Divisions of the Finance Department

1. Treasury Division

The Treasury Division oversees the College’s financial liquidity and cash flow management. It ensures that funds are available for daily operations, capital projects, and strategic initiatives.

Key Functions:

Managing cash receipts, disbursements, and bank reconciliations.
Monitoring and controlling cash flow to meet financial obligations.
Overseeing investments and short-term financial instruments.
Managing relationships with banks and financial institutions.
Preparing treasury reports and financial forecasts.

Goal: To maintain optimal liquidity and safeguard the College’s assets through responsible and strategic cash management.

2. Accounting Division

The Accounting Division ensures accurate recording, classification, and reporting of all financial transactions. It provides reliable financial statements that guide institutional decisions and ensure compliance with government and audit standards.

Key Functions:

Recording and managing all College financial transactions.
Preparing monthly, quarterly, and annual financial reports.
Ensuring compliance with Ethiopian financial regulations and auditing standards.
Managing payroll and staff compensation.
Supporting internal and external audits.
Implementing and maintaining financial software systems.

Goal: To deliver timely and transparent financial reports that promote accountability and informed management decisions.

3. Student Finance Division

The Student Finance Division serves as the primary financial service point for students, handling tuition payments, fees, and refunds. It works to ensure affordability, accuracy, and convenience in all student-related financial matters.

Key Functions:

Managing tuition billing, student accounts, and payment processing.
Providing guidance on payment plans and scholarship disbursements.
Issuing receipts, financial clearance, and fee statements.
Supporting students with financial inquiries and assistance.
Coordinating with the Registrar and Admissions Offices on student billing data.

Goal: To enhance the student experience through efficient, transparent, and supportive financial services.

Financial Management Principles

The Finance Department operates based on the following principles:

Integrity: Upholding honesty and ethical conduct in all transactions.
Accountability: Ensuring every expenditure is justified and transparent.
Efficiency: Delivering services in a timely and cost-effective manner.
Compliance: Adhering to institutional, governmental, and auditing standards.
Stewardship: Managing resources responsibly in support of EAC’s mission.

Our Commitment

The Finance Department remains committed to:

Supporting the College’s growth through prudent financial planning.
Ensuring compliance with the Education and Training Authority (ETA) and national accounting standards.
Promoting trust through transparent reporting and regular audits.
Empowering staff and students with accessible, responsive financial services.

Contact Information

Finance Department
Ethiopia Adventist College, Kuyera, Ethiopia
finance@eac.edu.et