Finance Department
Business Plan
For the 5 years from 2010 to 2014
Position of University Bursar Applicant:
Joshua S Karamagi
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Executive Summary – Strategy Map

Personal Information

Challenges of the Job

The Department’s Vision and Mission

Performance Improvement Strategies
MUK Finance Department – Strategic Initiatives (2010 – 2014)
Position of University Bursar Applicant : Joshua S Karamagi
VISION
PERSPECTIVE
MISSION /
STAKEHOLDER
PERSPECTIVE
“Our Vision is to be one of the leading University Finance Departments in the region, effectively supporting the
achievement of Makerere University’s own Vision and Mission, while responsibly being one of the most critical and
relevant Departments in the overall University organisation and function structures.”
Control &
Safeguard
Quality
information
Accountability
External Stakeholders: MUK, GOU, Donors, and Auditors
Financial Mgt
Processes
Innovation
Processes
• Fee collection
• Student debtors
information
• Student payments
system
• Banking framework
• Student Unit Cost /
Fee justification
• 10 ICT innovations
• Intra-University
Flash reporting
• Benchmarking
• Investments
• Staff performance
measurement
• Mgt. Accounts
System
• MIS / Costing
• Cost control &
Cash management
• Treasury Mgt.
• SFM.


Development
LEARNING AND
GROWTH
PERSPECTIVE
Rationalisation
•
• IFRS reporting
• “Big Four” audit firm
• Auditor General
• PPDA Compliance
• NSSF issues
• NIC / Pension
issues
• Taxation
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
10 innovations
Information Capital
Culture

Leadership
Organisation Capital
[1]


Reward / Equity
Human Capital
New ERP
MUK Finance Department – Strategic Initiatives (2010 – 2014)
Position of University Bursar Applicant : Joshua S Karamagi
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
Opportunity &
Team identity
Regulatory
Processes



Reward & Equity
Internal Stakeholders: Students , General and Finance Staff
Student service
Processes
INTERNAL PROCESS • Budgetary Control
PERSPECTIVE
• Internal Control

Efficiency &
Quality
Compliance
BCP + DRP
Alignment
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Teamwork
Critical Success Factors
SFM Strategic Financial Management
BIO DATA:
WORKING EXPERIENCE:
#
Item
Detail
#
Employer
Position
Responsibilities
1
Name:
Joshua S Karamagi.
1
Ministry of
Finance
2
Profession:
Certified Public
Accountant (U), (K).
Asst.
Commissioner
(Treasury)
3
DOB:
27 February 1972.
• Financial mgt. reforms in Debt,
Asset Mgt. And Investment policy.
• Identification and appraisal of
investments.
• Budgeting process linkages.
• Managing US$ 6bn debt portfolio.
• Business partner relationship
mgt.
• Product structure and negotiation.
4
Current Position
Assistant Commissioner
(Treasury), Ministry of
Finance.
EDUCATIONAL BACKGROUND:
# Degree/PQs
Institution
Period
1 MBA
Edinburgh
Business School,
Scotland, GB.
2004 2005
Strathmore
College, NBI,
Kenya
1996 1999
Makerere
University,
Kampala, Uganda
1992 1995
2 CPA (U), (K)
3 B.Com
(MUK)
Jul 2007 to date.
2
NSSF
Chief Finance
Officer (CFO)
Dec 2003-Jul 2007
3
Uganda
Breweries Ltd
Chief
Accountant
Oct 2001-Nov 2003
4
Africa Online
Ltd
Chief
Accountant
Jan 2000-Sep 2001
5
Celtel Ltd
Financial
Accountant
Aug 1998-Jan 2000
MUK Finance Department – Strategic Initiatives (2010 – 2014)
Position of University Bursar Applicant : Joshua S Karamagi
6
Price
Waterhouse
[2]
Audit Senior
Jul 1995-Jul 1998
• Leading the Finance Department.
• IFRS reporting / Ext. Auditors.
• Budgeting process.
• Departmental Strategy.
• Member of Executive Committee.
• Cash flow management.
• Capital Expenditure planning.
• Procurement oversight.
• Product pricing.
• Capital Expenditure appraisal.
• Budgetary control.
• Tax planning.
• Monitoring & Evaluation.
• Financial reporting & analysis.
• Operational mgt. of Finance
Department.
• Tax planning.
• Staff mgt. Including training.
• Collection and dissemination of
financial data.
•Trend analysis.
• Preparation of management
reports.
• Supervision of corporate audits.
• Financial consulting in areas of
Donor Aid, Project Management
etc.
• Financial services auditing and
advisory experience.
• Create and sustain a robust system of
financial and internal controls.
• Financial Risk Management.
• IFRS reporting.
• Precipitating efficient use of funds.
• Detection and prevention of fraud.
• BCP / DRP.
• Positive and mutually benefit working
relationship with Internal Audit
• NSSF outstandings.
• NIC pension issue.
• Streamlining procurement (PPDA).
• Grant Accountability.
• Political issues (PAC, HE etc).
• Student Unit Cost / Fee
justification
• Taxation.
OTHERS
• Capex justification
• System development
• User training
• “Resistance to
Change”.
• “Fear of the
Unknown”.
FINANCIAL
MGT.
& CONTROL
BUDGETING
PROCESS
ICT APPLICATION
REVMOB,
COLLECTION &
COST CONTROL
STAFF
MANAGEMENT
• Quality and Quantity
• Motivation
• Retention
• Training
• Performance
measurement systems
• Reward & Equity
OPTIMAL USE &
SAFEGUARDING
ASSETS
MUK Finance Department – Strategic Initiatives (2010 – 2014)
Position of University Bursar Applicant : Joshua S Karamagi
• Reliable record of ownership, state,
value of assets
• Asset productivity measurement and
monitoring.
• Physical security and asset movement
controls.
• Planning and time
mgt.
• Inter-department coordination.
• Methodology
selection.
• Alignment with
Strategy
• Identifying non-traditional
sources of income.
• Product development.
• Product marketing
• Effective collection system
• Entrenchment of a Cost
control culture.
• Budgetary control systems.
[3]
“Our Vision is to be one of the leading University Finance Departments in the region, effectively supporting the
achievement of Makerere University’s own Vision and Mission, while responsibly being one of the most critical and
relevant Departments in the overall University organisation and function structures.”
Our Mission
MUK, GOU,
Donors,
Auditors
Students,
General Staff
• To proper control finances and safeguard assets and
resources.
• To be comprehensively accountable.
• To provide quality financial and management information.
• Compliance Assurance.
External
stakeholders
• To provide efficient, effective and timely fee and allowance
payment systems, and relevant customer service.
• To provide quality fee and allowance payments information.
• To provide effective and timely financial services to MUK
general staff eg salary payments, advances, NSSF etc.
Internal
stakeholders
Finance Staff
•
•
•
•
To provide appropriate development opportunities.
To provide meaningful team identity to staff.
To precipitate commensurate reward for performance.
To be fair and ensure equity is the order of the day.
MUK Finance Department – Strategic Initiatives (2010 – 2014)
Position of University Bursar Applicant : Joshua S Karamagi
[4]
FINANCIAL MANAGEMENT & CONTROL
#
Performance Improvement Strategies
Milestones, Deliverables and Due Dates
1
Implementation of the COSO Framework of Internal Control.
36 months, 33% each 12 months. Due
date December 2012.
2
Implementation of a Best Practice Financial Risk Mgt.
Framework.
18 months, 33% each 6 months, Due date
June 2011.
3
IFRS training and Compliance Auditing. IFRS tools.
9 months. Due date September 2010.
4
Implementation of a Fraud Detection and Prevention Policy.
12 months. Due date December 2010.
5
Design and implement a BCP that includes a DRP.
36 months. Due date December 20112
6
Positive co-ordination of control efforts with Internal Audit.
Immediate.
BUDGETING PROCESS
#
Performance Improvement Strategies
Milestones, Deliverables and Due Dates
1
Generation of an Annual Budgeting Process Plan.
3 months, Due date March 2010.
2
Empirical testing of the most appropriate Budgeting Method
for MUK
1 months, Due date January 2010.
3
Creation of an IT-based inter-departmental budget
preparation and reporting system.
3 months, Due date March 2010.
4
Annual Budget / Strategy alignment process, including
documented explanations for significant deviations from
Strategy.
3 months, Due date March 2010.
MUK Finance Department – Strategic Initiatives (2010 – 2014)
Position of University Bursar Applicant : Joshua S Karamagi
[5]
REVMOB, COLLECTION & COST CONTROL
#
Performance Improvement Strategies
Milestones, Deliverables and Due Dates
1
Identify and exploit non-traditional sources of income,
including the implementation of relevant new product
development cycles.
2 months, identify; 10 months exploit. Due
date December 2010. (Repeat annually).
2
Implementation of a zero arrears fee collection system,
supported by foolproof student fee payment checks.
6 months, Due date June 2010.
3
Setting and seeking to achieve ambitious cost control
targets, including training general MUK staff on adopting a
cost control culture (supported by cost MIS).
6 months. Due date June 2010.
4
SEE POINT 3, BUDGETING PROCESS.
OPTIMAL USE OF & SAFEGUARDING ASSETS
#
Performance Improvement Strategies
Milestones, Deliverables and Due Dates
1
A 100% physical verification of all MUK fixed assets.
12 months, Due date December 2010.
2
Implement a Fixed Asset IT-based management system and
generate a computer-based Fixed Asset Register.
15 months, Due date March 2011.
3
Fully utilise all of the embedded MIS potential in the Fixed
Asset IT-based management system to control and safeguard
MUK’s Fixed Assets, including effecting physical security.
18 months, Due date June 2011.
4
Design and effect an Asset productivity measurement and
monitoring system.
10 months, Due date October 2010.
MUK Finance Department – Strategic Initiatives (2010 – 2014)
Position of University Bursar Applicant : Joshua S Karamagi
[6]
STAFF MANAGEMENT
#
Performance Improvement Strategies
Milestones, Deliverables and Due Dates
1
Effect a staff rationalisation process (Needs assessment,
quality review, hires and fires).
6 months. Due date June 2010.
2
Implement an IT-based staff Performance Measurement
System (PMS).
6 months. Due date June 2010.
3
Perform a market-based staff remuneration survey and
review, recommending adjustments where justified.
6 months. Due date June 2010.
4
Carry out technical, soft skills and team-building training for
staff.
12 months . Due date December 2010.
(Repeat annually).
ICT APPLICATIONS
#
Performance Improvement Strategies
Milestones, Deliverables and Due Dates
1
Implement an International Enterprise-Wide Resource
Planning (ERP) system, with robust MIS, payroll and
budgetary control capabilities.
36 months, 3 Phase implementation. Due
date December 2012.
(24 months requirement infeasible).
2
Implement an IT-based Fixed Assets management system.
15 months, Due date March 2011.
3
Implement an IT-based PMS for staff.
6 months. Due date June 2010.
4
E-learning IFRS training and tools.
9 months. Due date September 2010.
5
Financial Department customer service hotline, electronic
complaints log and electronic notice board.
12 months . Due date December 2010.
MUK Finance Department – Strategic Initiatives (2010 – 2014)
Position of University Bursar Applicant : Joshua S Karamagi
[7]
OTHERS
#
Performance Improvement Strategies
Milestones, Deliverables and Due Dates
1
Precipitate immediate prospective compliance with the NSSF
Act.
9 months, Due date September 2010.
2
Negotiate an amicable medium-term arrears repayment plan
with NSSF.
6 months. Due date June 2010.
3
Negotiate an amicable closure to the staff pension fund
issues with NIC, avoiding any adverse legal action.
6 months. Due date June 2010.
4
Streamline MUK procurement procedures by (a) training all
PDU staff (b) sensitising general staff (c) enforcing the PPDA
rules eg Annual Procurement Plan (d) Inviting PPDA for a full
scope special procurement audit (e) regular PPDA
consultations.
18 months. Due date June 2011.
5
Training and sensitising general staff on the best practice
requirements for Grant Accountability, as well as specific
Donor Accountability requirements.
12 months . Due date December 2010.
(Repeat annually).
6
Getting to the bottom of the “Student Unit Cost quagmire”
and creating a cost model for the timely justification of any
fee changes at MUK.
12 months . Due date December 2010.
7
Performance of a pervasive Tax Health Check, and effecting
allowable tax planning and maintaining a good professional
relationship with URA.
6 months, Due date June 2010. (Then
continuous).
MUK Finance Department – Strategic Initiatives (2010 – 2014)
Position of University Bursar Applicant : Joshua S Karamagi
[8]