College Office Workshop 29 March 2017 Main Fund Budget Presented By: Andile Nduku Tel: 031 260 3986 Email: ndukua@ukzn.ac.za

Budget Allocation for 2017 For 2017, supplies & services budgets have been allocated to each spending line item (e.g. consumables, stationery, travel, assets, etc.) unlike 2016 and previous years. Virements within supplies & services during the year. Managing cost centres Assets virements before spending (above R5000)

Conference Funding Cost Center Used for conference related expenses only. No assets can be purchased

Deans Discretionary Cost Centre Used at the Deans discretion.

Old Commitments Cancellation

Why cancel old commitments..?

Old commitments consume current year budget Reduce the amount available on cost centre Render cost centre to be on deficit No spending will be allowed by College Finance

Commitment can not be cancelled if; Goods have been received & no GRV created GRV created & is in the process mode The goods are still needed and are on the way

College Scholarship

When the school receives an award letter for signature make a copy of an award letter prepare a spreadsheet with the details below for the student.

This will resolve the problem that schools do not normally know how much is allocated to each student.

Managing Running Expenses Cost Centre Keep track of budget allocation against spending Ensure that no student use funds for another student

Budget monitor for Running Expense Student Name Amount Allocated Amount Claimed Details of Claim Balance HS Student R40 000 R16 000 Laptop R24 000

Advise students themselves to keep track of their expenses

Research Assistant Research assistant should be paid via Human Resources. All their appointments should be done through HR system. Students should refrain from paying research assistants and hope to claim back using Yellow Form.

Allowable expenses for Running Costs

Yellow Claim Forms Students should use yellow claim Assets should be purchased via procurement & NOT yellow form

Claw-back of Funds All unused Main Fund budgets are clawed back towards the end of each year. You will be notified of the claw back date so that you will make necessary claims before the deadline.

Question Time…