FAQ : Account - Project Account

The application for the new project/fund account needs to be made in writing through the Head of PTj. It needs to be addressed to the Financial Controller/Bursar. The application must contain the following information:

(1) The objective of the project/fund
(2) Term of Reference which details out the proposed name of fund/project, purpose, source of incomes, governing committee, etc.
(3) Estimation of Incomes and Expenditures

The account will be used for the recording of the incomes and expenses involved in the project. The Bursary will issue an approval letter notifying the PTj/Department on the Project Name, Project Code/ Account No, etc.

All expenditures and procurements activities must be approved as per the established TOR.

The close of the project is the final phase of the project life cycle. PTj/department need to notify the Bursary once all invoices claim etc. are paid. Any excess of income may be:

(1) transferred to other identified account; or
(2) returned to another funder; or
(3) repaid the seed money (if and where applicable)