The General Administration of Planning and Budget was established in conjunction with Taibah University's founding in 1424 AH.  Its purpose is to create an administration responsible for preparing, planning, and implementing the university budget, following up on it accurately during its implementation, monitoring spending on budget chapters and items, and making expected estimates of what will be spent on various items. It also implements the support and financial transfer decisions issued by the Ministry of Finance. As well as making the necessary financial commitments for all issued circulars, contracts, or financial dues for university employees and others.