1. College Office Workshop 29 March 2017 Main Fund Budget
Presented By: Andile Nduku
Tel:

2. 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)

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

4. Deans Discretionary Cost Centre
Used at the Deans discretion.

5. Old Commitments Cancellation

6. Why cancel old commitments..?

7. 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

8. 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

9. College Scholarship

10. 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.

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

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

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

15. Advise students themselves to keep track of their expenses

16. 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.

17. Allowable expenses for Running Costs

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

19. 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.

20. Question Time…