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The Hong Kong Polytechnic University. Department of Applied Social Sciences Cum Unit for Third Sector Studies. 3 March 2006. Meeting Challenges and Creating Opportunities under the Lump Sum Grant . Chris Mong Associate Vice-President & Director of Finance The Hong Kong Polytechnic University.

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The hong kong polytechnic university l.jpg

TheHong Kong PolytechnicUniversity

Department of Applied Social Sciences Cum Unit for Third Sector Studies

3 March 2006


Meeting challenges and creating opportunities under the lump sum grant l.jpg

Meeting Challenges and Creating Opportunities under the Lump Sum Grant

Chris Mong

Associate Vice-President & Director of Finance

The Hong Kong Polytechnic University

3 March 2006


Agenda l.jpg
Agenda Sum Grant

  • Objectives of Lump Sum Grant

  • Challenges

  • Opportunities

  • Information Dissemination

  • Check and Balance Rules

  • Experience Sharing – One-Line Budget System in PolyU


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Why? Sum Grant Objectives of the Lump Sum Grant

  • Facilitate management based on the spirit of mutual trust and respect

  • Empower decision making at or near the site of action and expertise

  • Provide supporting mechanism for Head of Organization to meet goals successfully


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Challenges Sum Grant

  • Management Culture Shift

  • Technology Upgrade


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Challenges Sum Grant Management Culture Shift

  • Proactive Management

  • Plan, Budget and Monitor

  • Review and Support

  • Devolution and Flexibility

  • Risk Management

  • Executive-led


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Challenges Sum Grant Technology Upgrade

Financial Management Systems: -

  • Workflow technology

  • User friendly tools for input and output

  • Timely management information


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Challenges Sum Grant Technology Upgrade (Con’t)

Other Management Systems: -

  • Human Resources

  • Payroll & Benefits

  • Purchasing


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Opportunities Sum Grant

  • Use of resources in optimal way

  • Avoid unnecessary resource wastage

  • Achieve cost savings

  • Facilitate better staff & resource planning


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Information Dissemination Sum Grant

  • Updated and timely management information is critical for decision making


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Check and Balance Rules Sum Grant

  • Internal Audit

  • Governance

  • Committee Structure

  • Clear division of work between CFO and COO


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Check and Balance Rules Sum Grant (Cont’)

  • External advisors

  • Internal consultation mechanism

  • Clear policies and guidelines


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Experience Sharing Sum Grant

One-Line Budget System

in PolyU


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One-Line Budget Sum Grant Management System

Objectives

  • Decentralization of decision making

  • Flexibility in budgeting through

    • Use of vacancy savings

    • Budget virement

    • Carrying forward of unspent funds


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One-Line Budget Sum Grant Management System

How One-Line Budget System works

  • Budgets are allocated to departments for each of the three coming years under four categories :

    • Academic Staffing (for academic depts only)

    • Other Staffing

    • Staff Development, Conference & Duty Visit

    • Equipment and other items

  • Departments are required to prepare Spending Plan comprising of One-Line Budget items on a 3-year rollover basis


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One-Line Budget Sum Grant Information System

Objective

To support the management and operation of the One-Line Budget System by providing :

  • Financial and staffing information

  • Computing worksheets with built in calculating functions for preparing Spending Plan

  • Facility to submit and approve Spending Plan

  • Facility to raise recruitment request and to commit funds


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~ Thank you ~ Sum Grant


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