Periodic Reports to Resources Committee

Procedure

1.1 Periodic reports will be prepared for the Resources Committee which provide income and expenditure data, together with information on budget commitments, forecasts and relevant statistical data. The reports will be compiled on a quarterly basis.

1.2 The reports will contain information on cumulative year to date activity, together with a high level forecast of the outcome for the current financial year.

1.3 The package of reports will include:

• financial overview commentary;
• graphical highlights summary;
• income and expenditure statement and notes;
• balance sheet and highlights;
• recurrent budget report;
• major cost centre funds report – recurrent
• non-recurrent funds report;
• capital infrastructure plan report; and
• debtors report

1.4 The financial overview commentary will include:

• an executive summary, and
• financial commentary on significant trends indicated in the individual reports

1.5 The individual reports will include:

1. graphical highlights summary – analysis of certain key performance indicators by comparing actual results against budgeted results;
2. income and expenditure statement – analysis of year to date income and expenditure, including forecasts to year end;
3. balance sheet – identifying significant movements in balance sheet items from the previous year;
4. recurrent budget – forecast of full year recurrent University revenue from DEST and other sources, and allocations to major cost centres, research and capital infrastructure. Full year forecasts compared to budget;
5. major cost centre funds report – analysis of recurrent funds available and forecast full year results;
6. non-recurrent funds report – comparison of non-recurrent funds balances with previous year end balances;
7. capital infrastructure plan report – analysis of year to date income and expenditure, including forecasts to year end;
8. debtors report – analysis of general and student debtors balances.

1.6 The report will be presented at the Resources Committee by the Director, Financial Services, or nominee.

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