FINANCIAL AND BUSINESS PLANNING
Colleges and universities everywhere are under increasing
pressure to make sure that their financial
management systems are as efficient and
effective as possible. Without such systems,
many other aspects of institutional development
will be ineffective. Moves towards greater
university autonomy in many countries
often require new approaches to financial
management, and may mean that better financial
management is vital for institutional survival.
Often, a good way to improve financial management
throughout the institution is to devolve
certain budgetary responsibilities to
faculties, while retaining central overall financial
control. This demands new types of financial
information and well-designed procedures.
Linked with this, business planning is a useful
technique in helping units within the
institution understand their objectives
and their financial targets, within the
context of a
strategic plan.
One of our Partners has co-authored the
UK Association of University Administrators
Good Practice Guide to Business Planning in Higher
Education
.
Universitas has a group of highly-experienced financial
consultants, who have held senior operational
financial management posts in UK colleges
and universities.
We have worked with institutions
- to review their overall financial management systems
- to provide training to upgrade the skills of financial staffs
- to help universities develop internal budgetary devolution systems
- to help develop business plans for operating units
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