School Financial Reporting Faculty Finance Manager Improving School Financial Reporting Corey Round Faculty Finance Manager Faculty of Social & Behavioural Sciences Flinders University Leadership Program 2016

Project Outline Looking to streamline reports Reports to contain only information that Deans had ultimate control over. Make reports a rolling Forecast to further improve Deans decision making capabilities. Automate Reports

Why is this project required? Existing School reports were seen as an information overload. School reports become more relevant, timely and meaningful. Allow Deans to have a greater understanding of their Schools financial position. Achieve greater buy in from Deans.

Existing Report 2015 QUARTER DEC - UNTIED FUNDING BUDGET Reporting for the period ending 31st December 2015 (as at 31 December 2015) School: HISTORY & INTERNATIONAL RELATIONS Untied Funds, Social & Behavioural   Underlying (includes carry forward strategic expenditure estimates if applicable) Consulting Individually held untied Total 2015 BUDGET 2015 REFORECAST 2015 UPDATE 2015 ORIGINAL BUD V 2015 REFORECAST Variance % ACTUALS AS AT 31/12/15 $'000 OPERATING REVENUE FROM ORDINARY ACTIVITIES Received under Higher Education Support Act Base operating financial assistance (CGS) 1,388 1,261 1,339 78 Sustainable Research Excellence Funding 2 Research Training Scheme 159 167 -0 Joint Research Engagement 11 Higher Education Contribution Scheme 1,155 1,050 1,108 58 Total Received under Higher Education Support Act 2,715 2,491 2,628 136 5% #DIV/0! Learning and Teaching Course Fees & Charges - Other (Non-award) 9 7 6 -1 International Onshore Fees 769 710 645 -66 Domestic Fees 206 190 203 14 International Offshore Fees 1,300 1,705 1,642 -63 Non Course Fees & Charges Total Learning and Teaching 2,285 2,612 2,495 -116 -4% Research Grants and Fees National competitive grants Public sector - other Industry and other Total Research Grants and Fees Research - Other Research other (RIBG) 16 17 Total Research - Other 0% Other income Investment Income Other Income Misc 50 37 -13 10 5 -2 1 3 61 60 48 -12 Total Other income -26% -27% 121% -20% TOTAL OPERATING REVENUE FROM ORDINARY ACTIVITIES 5,066 5,170 5,177 5,077 5,179 5,187 8 INTERNAL TRANSFERS Faculty Levy (20%, except offshore 10%) -873 -868 Uni Offshore income 15% levy -195 -256 -246 -245 Internal Transfers 77 -76 82 21 125 98 95 -3 202 43 122 79 TOTAL INTERNAL TRANSFERS -991 -1,205 -1,108 97 -8% -1,107 -3% -866 -1,086 -992 94 -9% TOTAL AVAILABLE FUNDING 4,075 3,965 4,068 104 3% 4,069 28 26 -7% 126 100 4,211 4,093 4,195 102 2% 4,196 Salary Expenditure Academic - Continuing - 1001 2,914 2,695 2,600 -96 Academic - Contract - 1701 293 482 446 -35 Academic - PTT - 1101 (all casuals) 348 358 352 -6 359 353 Academic - External Contractors - 1050 105 135 31 Academic - Other Academic 3,659 3,640 3,534 -106 Non Academic - Continuing - 1201 402 374 Non Academic - Contract 22 68 27 47 53 115 121 Non Academic - Casual - 1501 and 1601 24 36 32 -4 Non Academic - External Contractors Non Academic - Other Non Academic 434 426 450 6% 54 74 4% 488 500 527 Total Salary Expenditure 4,094 4,066 3,984 -82 -2% 4,148 4,140 4,061 -79 OPERATING EXPENSES FROM ORDINARY ACTIVITIES Student Services 33 4 35 39 23 -16 Teaching and research Buildings and grounds Administration, communication and travel 327 300 180 -120 15 124 67 -57 466 429 254 -175 Miscellaneous equipment 20 -9 Bad & Doubtful Debts TOTAL OPERATING EXPENSES FROM ORDINARY ACTIVITIES 381 354 212 -142 -40% 129 71 -59 -45% 530 494 -201 -41% 294 TOTAL OPERATING EXPENSES 4,475 4,420 -224 -5% 183 148 -56 4,677 4,635 4,355 -280 -6% OPERATING SURPLUS (DEFICIT) FROM ORDINARY ACTIVITIES -400 -455 -127 328 -72% -126 -10 -103 -48 55 -54% -467 -541 -160 382 -70% -159

Process Meetings with line manager to establish initial plans. Produce draft reports and organise/hold consultation meetings with School Deans and Key stakeholders. Establish wants/needs of Schools. Within reason, tweak reports accordingly.

New Report 2016 OPERATING BUDGET School: FLINDERS BUSINESS SCHOOL Reporting for the period ending 31st December 2016 (as at 31 January 2016) School: FLINDERS BUSINESS SCHOOL   OPERATING BUDGET 2016 BUDGET 2016 UPDATE 2016 BUDGET V 2016 UPDATE Variance % Actuals as at 31/1/16 $'000 INCOME Allocations Salary 5,809 5,822 12 Non-salary (including transfers) 369 Total Allocations 6,178 6,191 0% Other income Other Income Misc 20 Total Other income TOTAL INCOME AND ALLOCATIONS 6,198 6,211 EXPENDITURE Internal Transfers -142 Total Internal Transfers Salary Expenditure Academic - Continuing - 1001 2,860 2,830 -30 184 Academic - Contract - 1701 597 691 94 24 Academic - PTT - 1101 (all casuals) 804 7 Academic - External Contractors - 1050 387 15 Academic - Other Academic 4,647 4,711 64 1% 231 Non Academic - Continuing - 1201 876 905 29 44 Non Academic - Contract 180 99 -81 4 Non Academic - Casual - 1501 and 1601 107 2 Non Academic - External Contractors Non Academic - Other Non Academic 1,163 1,110 -52 -4% 50 Total Salary Expenditure 281 Non-salary expenditure Student Services 25 Teaching and research 82 1 Buildings and grounds 10 Administration, communication and travel 358 Miscellaneous equipment 36 Bad and Doubtful Debts TOTAL NON-SALARY EXPENSES 511 6 TOTAL EXPENSES 287 DISCRETE SURPLUS/DEFICIT -287 Surplus reverts to Faculty carry forward project/account

Next Steps Work with Schools to develop generic list of projects. Build new projects into reports. Use new projects during budget cycle. Automated system generated reports.

Road Block PSP announcements Centralisation? Colleges? Given the potential impact on SBS decision was made not to continue to full extent.

Leadership Development of draft reports. Coordinate / initiate and present at consultation meetings. Collate and organise feedback to tweak reports to include as many requests as possible. Flexibility Continual communication with Schools. Roll out of new reports. Decision to stop given uncertainty.

What I learnt about Leadership. Need for collaborative leadership when trying to change a process. Need to be able to “sell” the benefits of the change to get greater buy in from key stakeholders Ability to be flexible and consider everyone’s thoughts and ideas. The ability delegate where others have greater knowledge/expertise in a certain area.

Thankyou!