Overview
Management Accounting provides appropriate financial management and support services to the Dean of Health Sciences, Heads of Departments and general staff within the faculty in accordance with university requirements, policy and procedures.
The unit is responsible for financial administration, monitoring, and reporting of all teaching-related (non-research) finance matters. Our role is related to the planning, budgeting, reporting and maintenance of FHS GOB and non-GOB funds. We provide financial guidance on institutional alignment and ensure adherence to statutory requirements.
Escalation Process:
General Operating Budget (GOB)
The General Operating Budget supports teaching activities through council-controlled funds. The main income sources are student fees and subsidies, with contributions to a lesser degree from Research Cost Recovery, Chair Endowment Income, WCG Joint Staff Recoveries, Short Courses, Staff Recoveries from Research Projects, Elective Students, Recoveries from Investment Returns, Nelson Mandela Fidel Castro student admin fees and Garden Route residence fees.
GOB funds Recurrent and Non-Recurrent Staff, Operating, Fieldwork & Mileage, Notes Levy, Furniture and Teaching Equipment. Faculty Units are partly or fully funded by GOB, i.e. Faculty IT Office, Student Transport, Dean’s Office, Academic Admin Offices, Management Accounting, Research Finance and Procurement. GOB also funds space charge for the entire faculty, i.e. all departmental administrative units and shared space charges.
Costings of Programmes to determine sustainability forms part of GOB and is done through a Business Plan process. In addition to the profitability of a programme, the accreditation thereof, ability to attract students and requirement of such a programme in the market is considered. Business Plans which are approved for by RAAG for funding additional resources requires bi-annual reporting on the progress, intake targets, expenditure, etc.
The budgeting period commences annually around June and departments are supported and guided through the process by their Senior Finance Officers. Faculty submits a collated budget to RAAG (Resource Allocation Advisory Group) at the end of August/start of September. The final outcome of the budget application is made available after Council approval in December for implementation in January.
GOB reporting takes place quarterly, i.e. May (Q1), July (Q2), October (Q3) and February (Q4). The Senior Finance Officer within each department/unit prepares the report for presentation and discussion with the HOD/Manager.
Non-general Operating Budget (Non-GOB)
Non-GOB refers to all external funding for non-research projects, short courses, seminars and workshops. Within Health Sciences, the Clinical Training Grant is the largest non-GOB funding source.
For all non-GOB funding projects, the departmental Senior Finance Officer will assist with the accurate costing of the project after which the project proposal has to be submitted to faculty for approval. The FHS001 form guides the process and is available from the UCT Admin Forms site .
View the Non-GOB Process flow.
Short Courses are managed through the Continuing Education Unit with the departmental Senior Finance Officer assisting with costings and budgets.
The Clinical Training Grant is funded by DHET and supplements the GOB Teaching Budget. Grant awards are made in two-year cycles and funding is specifically for Clinical Training, mainly for salaries. Faculty reports to DHET annually in May.
Investments
Refers to all UCT monies invested in Endowments (No.1), No. 2 and Cash (No. 3) Investment Portfolios. Whilst there is no minimum amount, it is assumed that reasonable surplus monies (actual cash, not budget) will be invested to achieve a good investment return.
For detail on the types of investments, please refer to the UCT Investment Policy.
Departmental Senior Finance Officers will assist with the opening of investment funds as well as journal transfers from and to investment funds. Investments relating to Research Grants will be managed by Research Finance and investments supporting teaching activities are controlled by Management Accounting.
Transacting from an investment fund is not permitted, and all investment funds should be linked to an operating fund (Non-GOB or Research). Transfers to and from investment funds will be made by means of journal entries.
One of the faculty initiatives to meet the UCT austerity savings target is to get fundholders of invested portfolio 2 and 3 funds to contribute 10% of the annual interest to support the faculty general operating budget (GOB). This interest contribution is only required from invested funds where the fundholder has discretionary use of the funds. The contribution supports the sustainability of the faculty and UCT.
| Management Accounting Team | |||
|---|---|---|---|
|
Desiree Esterhuizen |
Management Accountant | |
|
Leona Grobler |
Assistant Management Accountant: Faculty, CTG |
|
|
Zuraan Nagia |
Assistant Management Accountant: OMB, Red Cross |
|
|
Andile Makasi |
Senior Finance Officer: Surgery, Health & Rehab |
|
|
Chantel Jones |
Senior Finance Officer: Paediatrics, Faculty |
|
|
Joy Fuller |
Senior Finance Officer: Integrated Biomedical Sciences, Pathology, Public Health & Family Medicine |
|
|
|
Lesmaine de Vries |
Senior Finance Officer: Medicine, Perinatal Mental Health (under PED), Primary Healthcare Directorate |
|
|
Odile Duminy |
Senior Finance Officer: Animal Unit, Faculty Office Units, Human Biology |
|
|
Tracy Peters |
Senior Finance Officer: Anaesthesia, Health Sciences Education, Obstetrics & Gyneacology, Psychiatry, Radiation Medicine |
|
|
Adam Cleenwerck |
Finance Officer | |
|
Elroy Felix |
Finance Officer | |
|
Louen Kleinsmidt
|
Finance Officer | |
|
|
Kirsha Crowie
|
Finance Officer | |