1 / 14

Finance Forum Presentation

Finance Forum Presentation. Finance Section 9 th November 2012. 1.) Financial Plan Overview. SP 2010-12: Recovery Plan. Past Present

asa
Download Presentation

Finance Forum Presentation

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Finance Forum Presentation Finance Section 9th November 2012

  2. 1.) Financial Plan Overview SP 2010-12: Recovery Plan Past Present • 2012 • 1.) Rationalization • New SMT structure • 4 – 3 faculties • Reviews & Restructure • Rationalize courses & programmes • 2.) Financial reforms • Revamped Scheme of • Financial Delegations • Enforce Financial Policies • Stronger budgetary controls • IFRS compliance • Value for money • procurement processes • Income Growth • Significant increase in Aid Funds • Control in expenditures • Exceed operating • surplus targets • Increase investments • in capex • Positive net cash flows 2

  3. Impact on Operating Surplus: 2007 - 2012 FP targets Recovery Plan Actual 3

  4. Impact on Net Cash Flows: 2006 - 2012 Recovery Plan 4

  5. Budget 2013

  6. Finance Review 2011 • Review commissioned by the University; • All support sections under formal review. 6

  7. Key Themes of the Review • The need for the section to support and contribute to the strategic objectives of the University; • Excessive emphasis on control and was hurting the University; • Must take advantage of technology. 8

  8. Key Responses to the Review • Welcome the positive comments in its contributions to the turn around in financial performance for the University; • Agree to focus on providing strategic leadership; • Agree on reducing excessive levels of controls and encourage devolution with appropriate level of trust and accountability; • Many of the delays are outside of Finance but understands our role in follow ups and providing training for key processes; • No fit for all size solution. 9

  9. Vision - to be a strategic enabler for the University and leader in best financial practice in the region.

  10. Re-align structure to support new direction

  11. Governance of USP Finances

  12. Progress and Plans

  13. Our Path to Excellence A glimpse of Finance Section by end of 2015

  14. Thank you again for Listening

More Related