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Prium Brussels 0809 Managing Finance
Prium Brussels 0809 Managing Finance
Prium Brussels 0809 Managing Finance
Prium Brussels 0809 Managing Finance
Prium Brussels 0809 Managing Finance
Prium Brussels 0809 Managing Finance
Prium Brussels 0809 Managing Finance
Prium Brussels 0809 Managing Finance
Prium Brussels 0809 Managing Finance
Prium Brussels 0809 Managing Finance
Prium Brussels 0809 Managing Finance
Prium Brussels 0809 Managing Finance
Prium Brussels 0809 Managing Finance
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Prium Brussels 0809 Managing Finance

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Managing finance & optimizing efficiency, by Nic Van Craen (powerpoint presentation)

Managing finance & optimizing efficiency, by Nic Van Craen (powerpoint presentation)

Published in: Economy & Finance, Technology
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  • Transcript

    • 1. PRIUM site visit september 9-10, 2008 Managing finance & optimizing efficiency Nic Van Craen, director finance
    • 2. previous <ul><li>Presentation about new funding model and its impact on the organisation as seen from the finance department </li></ul>
    • 3. agenda <ul><li>Function of finance department </li></ul><ul><li>Some keynumbers: annual accounts & budgetsources </li></ul><ul><li>Introduction to the New government financing model </li></ul><ul><li>Transition period by unchanged policy </li></ul><ul><li>As-is situation between 2003-2006 </li></ul><ul><li>2007: introduction of the new model and impact on university policy </li></ul><ul><li>To-be 2008-2013 </li></ul><ul><ul><li>Introduction of an Allocation model </li></ul></ul><ul><ul><li>Use of combined integrated data = BI, need for ERP </li></ul></ul><ul><ul><li>Chaning role of central administration </li></ul></ul><ul><li>Risks </li></ul>
    • 4. Finance department <ul><li>Global Mission: improvement of revenues, efficiënt & effectiveness costallocation en –centers </li></ul><ul><li>tools: </li></ul><ul><ul><li>Financial administration: central, legal, operations </li></ul></ul><ul><ul><li>Financial management: policy </li></ul></ul><ul><ul><li>Budgeting & forecasting: framework & steering of university policy and its administration/execution </li></ul></ul><ul><li>How? responsabilities, 5yr and yearly plan in accordance to strategic plan of university , link between academic policy and financial policy </li></ul><ul><li>External driver: new governement financing model </li></ul>
    • 5. Annual accounts (k €)
    • 6. Introduction of a new financing model <ul><li>First draft of model in 2004 </li></ul><ul><li>Decree of 14/03/08 </li></ul><ul><li>Impact starting on Budget 2008 </li></ul><ul><li>Milestone 2013 – major change in financing ( no more historical compensation) </li></ul><ul><li>Academisation 2013 </li></ul>
    • 7. Institutional funding model
    • 8. Transition period
    • 9. As-is situation between 2003-2006: <ul><li>“ frozen” governement funding since 2000, fractional indexation </li></ul><ul><ul><li>+ : fixed, certain and time to prepare </li></ul></ul><ul><ul><li>- : increase of expenses > index of funding </li></ul></ul><ul><ul><li>internal budgeting reform </li></ul></ul><ul><ul><li>preparing change in funding </li></ul></ul><ul><li>adapted Budgeting proces: zero based if relevant, central policy on the use of local reserves, projection on 5j-bases </li></ul><ul><li>Budgeting as steering-instrument in university policy instead of post-factum material </li></ul><ul><li>introduction of active electronic financial administration: use of web-application for ordering, management, reporting & budgeting starting at cost centre level </li></ul><ul><ul><li>Imposed to realise a closely defined procedure </li></ul></ul><ul><ul><li>Need for reallocation of staff in finance department </li></ul></ul><ul><ul><li>Awareness of the cost centre responsables </li></ul></ul>
    • 10. 2007: introduction of the new model <ul><li>Impact on university policy </li></ul><ul><li>changing role of finance-department from exclusively executing to expertise and consultancy </li></ul><ul><li>supported bij automated systems and BI </li></ul><ul><li>not only in this case but as a general organisational impact </li></ul>
    • 11. To-be 2008-2013 <ul><li>Introduction of a (new) allocation model </li></ul><ul><ul><li>Characteristics: </li></ul></ul><ul><ul><ul><li>Governement Funding model = benchmark </li></ul></ul></ul><ul><ul><ul><li>Knowledge on the cost/funding of activities </li></ul></ul></ul><ul><ul><ul><li>Solidarity on university-level </li></ul></ul></ul><ul><ul><ul><li>Key to goalsetting on faculty/course and university level </li></ul></ul></ul><ul><ul><ul><li>Solide, rewarding goal-achievement </li></ul></ul></ul><ul><ul><li>Goals: </li></ul></ul><ul><ul><ul><li>autonomy & responsability on faculty-level in accordance to the university-strategy </li></ul></ul></ul><ul><ul><ul><li>Rewarding/sanctioning </li></ul></ul></ul><ul><ul><ul><li>Translation of university strategy by internal drivers </li></ul></ul></ul><ul><ul><li>Conditions: </li></ul></ul><ul><ul><ul><li>Business intelligence </li></ul></ul></ul><ul><ul><ul><li>University management </li></ul></ul></ul><ul><ul><ul><li>Professionalism of central administration </li></ul></ul></ul>
    • 12. Central administration = overhead! <ul><li>Contradiction? </li></ul><ul><li>Increasinge importance of (central) administration while need to maximum output on academic level </li></ul><ul><li>External conditions, justifying & legislation: </li></ul><ul><ul><li>Need of Expertise and consulting from central to individual level </li></ul></ul><ul><ul><li>Automisation: raptools, campusmanagement, webapplications, avoid double input </li></ul></ul><ul><li>Need of: </li></ul><ul><ul><li>Strong resolute central administration </li></ul></ul><ul><ul><li>Internal audit </li></ul></ul><ul><ul><li>Full cost model (introduced by FP7; impact to total university, f.e. timesheeting) </li></ul></ul><ul><li>Risks: </li></ul><ul><ul><li>Resolute central administration  individual academic goals </li></ul></ul><ul><ul><li>overkill in administration also at academic staff level, </li></ul></ul><ul><ul><li>dependancy on systems </li></ul></ul><ul><ul><li>Cost of decision-making </li></ul></ul><ul><ul><li>Automisation seems like transeferring work from central to individual level </li></ul></ul><ul><li>Threats: </li></ul><ul><ul><li>Change in mandate whilst staff isn’t prepared to new situation </li></ul></ul>
    • 13. Any questions? <ul><li> : nvcraen @ vub.ac.be </li></ul><ul><li> : +32 2 629 20 96 </li></ul>

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