Mutual accountability: resources, costs and services


Strategy Sixteen: Refine and apply the new University economic model to ensure greater transparency in resource and cost allocation and support strategic decision-making

We aim to strengthen our capacity for financial analysis and strategic decision-making based on the actual financial circumstances of the University and its constituent units. In particular, it is essential that there be transparency in the internal allocation of resources and costs, and appropriate budget discipline.

We will achieve this through a new economic model, mutual accountability for faculties at the divisional level in the development of budget strategies, better financial reporting and regular budgetary review processes.

  1. Introduce the new University Economic Model for the allocation of budgets to academic units and central portfolios.
  2. Align the budget allocation models with the new divisional structure and charge each divisional board with accountability to SEG for budget allocations to faculties in the division.
  3. Introduce a transitional process in the five-year planning cycle to ease the adjustment of academic units to the implications of the University Economic Model.
    Review the financial circumstances of those academic units where revenue does not meet costs under the economic model, and determine appropriate strategies for moving those units into budget surplus or ensuring their continuation through cross-subsidy.

Strategy Seventeen: Systematically review arrangements for the provision of administrative and professional services

Efficient, cost-effective and coordinated administrative services are an essential foundation for the realisation of our aspirations in education and research. If we are to sustain a University that seeks to achieve our strategic purpose we must support our staff and students through an effective, coordinated and efficient system of administrative and professional services delivery.

Initiatives

  1. Establish a Services Reform Steering Committee of SEG systematically to review arrangements for the provision of professional services, including mechanisms for ensuring client responsiveness, and beginning with marketing and student recruitment.
  2. Refine existing arrangements for location and management of services in relation to finance, human resources and ICT.