EXPLORE BUDGET, REVENUE, AND ALLOCATIONS OF THE COLLEGE

Understanding the financial structure of a college is essential for transparency, informed decision-making, and fostering trust within the academic community. This section provides a detailed overview of how the college manages its financial resources, including budget planning, revenue generation, and fund allocation.

1. Annual Budgetary Allocation (Current year 2025)

The table below outlines the college’s financial appropriation, funds released, actual expenditures, and remaining balances for the fiscal year 2025, categorized by key budget line items.

CODE	LINE ITEM	APPROPRATION	RELEASED	EXPENDITURE	BALANCE
021	PERSONNEL	5,909,222,224	1,827,346,192.92	1,804,597,775.54	22,748,417.38
022	OVERHEAD	347,438,911	37,231,405	37,159,300.48	72,104.52
023	CAPITAL	940,701,157	NIL	NIL	NIL

Summary Analysis:

Personnel (Code 021): The largest budget segment, accounting for staff salaries and benefits. Approximately ₦1.83 billion was released, with 98.76% utilized. A balance of ₦22.75 million remains unspent.

Overhead (Code 022): Allocated for recurring operational expenses. ₦37.23 million was released and nearly fully expended, with a minimal balance of ₦72,104.52.

Capital (Code 023): Though ₦940.7 million has been appropriated for infrastructure and fixed asset projects, no funds have been released or expended as of this reporting period.

Note: This budget snapshot reflects financial activities as of the latest reporting cycle in 2025. Updates will be provided as additional releases and expenditures occur.