SWOT ANALYSIS OF
BURSARY DEPARTMENT
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT
Introduction

This paper analyses the strategic position of the Bursary department
using SWOT analysis as a strategic model. It also dealt with the
succinct analysis of the micro and macro environment within which the
Bursary department operates with the aid of PESTEL as a toll for
environmental scanning and evaluation.

The paper also reviews the existing sources of revenue for the
University and offers suggestions on how the current yields from
those sources could be improved.
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT
SWOT analysis
SWOT analysis is a technique or strategic model for identifying
the key factors that might affect different levels of strategy of an
establishment. It is a strategic model that enables Management
to analyse Strengths, Weaknesses, Opportunities and Threats
viz-a-viz the environment within which the entity operates.
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT
Analysis of the Strengths and Weaknesses of the
Bursary Department
Strengths are resources and competencies that the Bursary
department possesses and the capabilities it has developed over
the years. Those strengths in resources, competencies and
capabilities can be exploited and developed to create sustainable
competitive advantage for the overall benefit of the University
particularly toward boosting the IGR drive.
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT
Weaknesses are the resources, competences and capabilities that are deficient or
lacking. These weaknesses are capable of preventing the Bursary department, nay
the entire University community, from developing or sustaining competitive
advantage.

We identify the strengths and weaknesses of the Bursary department under the
following sub-headings
Resources, Competencies and Capabilities
Size and Composition of the workforce:


Senior Staff: 124
Junior Staff: 29
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT
Efficiency of the Workforce:
The Bursary department is tremendously endowed with highly
competent personnel with strong passion for honesty and
integrity in the discharge of their respective duties and
responsibilities. The University has been adjudged the best in
the comity of tertiary institutions in Nigeria, in terms of
Financial Reporting, as the University had prepared and had its
financial statements audited by the Statutory Auditors and
certified by the office of the State Auditor-General up to 31st
December, 2014. The 2015 Financial Statements are expected
to ready for audit purposes before the end of the first quarter of
2016.

EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT
Flexibility of the Workforce:
The department has in place a policy of periodic job rotation among the
entire workforce to expand their scope of experience, skills and
knowledge in Bursary operations in the various Faculties, Divisions and
Units of the University.

Rate of Labour Turnover:
Apart from few of the staff on sabbaticals and others that got higher
status through external appointments, the rate of labour turnover has
been relatively low in recent times.

Labour Relations Between Management and Workers:
Very cordial relationship exist between the entire workforce and the
management.

EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT
Skills, Experience and Qualifications of the Workforce:
The Bursary department has a crop of competent and highly
motivated staff having the following specific qualifications
with several years of cognate experience in Bursary operations
and expertise in the application of the International Financial
Reporting Standards (IFRSs) and the International Public
Sectors Accounting Standards (IPSASs)
The staff strength of the Bursary department in terms of
academic and professional qualifications are as follows:
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT
Fellow(s) of the Institute of Chartered Accountants of Nigeria:
Three (3)
 Fellow(s) of the Association of National Accountants of
Nigeria: One (1)
 Associate Member(s) of the Institute of Chartered
Accountants of Nigeria: Thirteen (13)
 Associate Member(s) of the Association of National
Accountants of Nigeria: Twenty Two (22)
 First degree Holder(s): Sixty Three (63)
 Master degree Holder(s): Thirty (30)
 Doctorate degree Holder(s): One (1)
 Higher National Diploma Holders: Twenty Five (25)
 Ordinary National Diploma Holder(s): Fourteen (14)

Personnel Costs (Salaries and Personal Emoluments):
The personnel emolument of the Bursary department stands at an average of
N280,811,169 per annum. (as per 2014 audited accounts).
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT
Management:
 Size of Management Team, Skills and Responsibilities:
The Bursary department is headed by the Bursar, Mr. A. T. Taiwo (FCA). He
is ably assisted by the following seven (7) Deputy Bursars with requisite
qualifications and cognate experience. They have all made tremendous
contributions in the day to day management of the finances of the
University and are in charge of the various divisions in the department as
follows:








Mr. D.A. Osesusi (FCA): Deputy Bursar & Head of Accounting Services Division
Mr. Owolabi-Titiloye (FCA): Deputy Bursar &Head of Management Services Division
Mr. B.A. Apata (FNA) : Deputy Bursar & Former Head, Self-Accounting Programmes
Mr. J. A. Olaniyan (ACA): Deputy Bursar & Head, Student Services Division
Mrs F. B. Alonge (FCA): Deputy Bursar & Head, Treasury Services Division
Mrs. J. O. Ojobanikan (ACA): Deputy Bursar & Head, Self-Accounting Programmes
Mr. D. O. Bello ((ANA): Deputy Bursar & Head, Salaries, Pensions and Advances
Mr. Ola Ogunkolade Acting Head, Stores & Suppliers
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT

Non-current Assets:
The non-current assets at the disposal of the department comprises of
Motor Vehicles, Office Equipment, Furniture and Fittings.
While each of the offices in the department has functioning desktop
computers very few of the officers and staff have state-of-the-art
laptop computers, which could enhance their productivity on the
job. The available furniture and fittings also need considerable
measure of improvement in terms of quality and quality to
facilitate better employee-friendly job environment.
Apart from the Bursar, the Head of Accounting Services Division
and the Acting Director of Procurement/Central Stores that have
official vehicles, other divisional heads make use of their private
vehicles in the conduct of the day to day operations of their
divisions. This does not encourage optimum productivity.
Senior officers require higher measures of motivation and
encouragement to further boost their performance standards.
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT
Intangible Resources:
The Bursary operations are partially computerized. The students’ fee
payment is through the e-transact system while some Accounting and
Financial Reporting Packages were developed in-house by staff of
the department, specifically, the Payroll and the General Ledger
Packages. These had assisted the department tremendously in the drive
toward prompt financial analysis and reporting.
Internal Controls and Organization:
The Bursary management had put in place reasonable measures that will
guarantee the following:
 Adequate control over the use of its human capital and other
available resources;
 Efficient and effective use of assets;
 Effective control over accounting and financial reporting;
 Effective control over compliance with financial regulations and
international financial reporting standards and best practices;
 Effective risk management.
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT
Financial Resources:
Despite the fact that the department is endowed with
enormous human capital with which it could engage in
activities that would yield reasonable amount of Internally
Generated Revenue, the department still relies to a very
large extent on the meagre funds made available to it by the
University Management for its day to day operations.
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT
Analysis of the Opportunities and Threats of the
Bursary Department
Opportunities are factors in the external environment
that might be exploited, to the department’s and the
University’s strategic advantage.
 Threats are factors in the external environment that
create an adverse risk for the department’s and the
University’s future prospects.
 We identify the Opportunities and Threats of the Bursary
department under the following sub-headings

EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT


Government Directives on IPSASs Adoption by Public Sector Entities:
The Federal Government had directed that all Public Sector Entities (PSE}
must comply with the International Public Sector Accounting Standards
(IPSASs) in their financial reporting framework with effect from 1st
January, 2016. This development had created a lot of challenges for
organisations in this category as a result of paucity of qualified manpower
with requisite skills and experience in the implementation of IPSASs.
However, this policy has created a good opportunity to be exploited by the
Bursary department, given the wealth of experience and professional
qualifications of the senior staff and officers of the Bursary department.
Consultancy services in terms of manpower development and systems
design and implementation could be organized for such entities, to assist
them in their bid to comply with the government directives. This will
definitely serve as source of appreciable revenue to the Bursary department
in particular and the University at large.
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT


Government Directives on IFRSs Adoption by Private Sector
Entities:
The Federal Government had designed a roadmap for the adoption of the
International Financial Reporting Standards (IFRSs) by all Private Sector Entities,
which requires full compliance by these entities not later than December 2014.
IFRSs adoption by the Private Sector Entities is also fraught with enormous
challenges which the University could exploit in the IGR drive. Our staff having
exposure in local and international training in this area are readily available to serve
as consultants to those Private Sector Entities in their drive towards full compliance
with the Federal Government policy on IFRSs adoption.
Other Areas of Deficiency in the Public Sector Entities:
The accounting and financial reporting systems in most Public Sector Entities are in
shambles as their financial statements are in arrears for several years. This is due to
paucity of competent and well experienced personnel who could handle the
preparation of financial statements in that sector. The inability of these entities to
attract and retain skillful personnel in accounting profession had seriously affected
the design and effective implementation of sound financial reporting framework in
that sector. The offers a great opportunity for the University through the Bursary
department to proffer solutions to the problem by rendering consultancy in systems
design, implementation and continuous training of accounting personnel to improve
accountability and financial reporting in the Public Sector Entities.
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT



Dearth of Professional Accountancy Tuition Centres in
Ekiti and Adjourning States
Most candidates preparing for the Professional Examinations of the Institute
of Chartered Accountants of Nigeria, The Chartered Institute of Bankers,
The Association of National Accountants of Nigeria and other professional
bodies have to travel out of Ekiti state, particularly to Lagos or Jos, to be
able to obtain comprehensive training in well-established Tuition Centres in
preparation for the examination.
The dearth of standard Professional Tuition Centres in the state had
contributed in no small measure to the high failure rates being recorded in
the professional examinations for which ill-prepared candidates offer
themselves. A lot of resources had been lost by such candidates in that
process.
The Bursary department could champion the course of establishing a viable
Professional Training Centre in the state, given the enormous facilities
available with the University campus. Most candidates would prefer to
register with the University managed Training Centre instead of travelling
to far away locations for such training programmes.
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT



IGR Generation By State and Local Government
In the light of declining oil revenue and subsequent constant reduction in the
monthly allocations for states and local governments from the federation account,
the University has the opportunity to carry out consultancy services to assist states
and local government on strategies to be adopted to boost their Internally Generated
Revenue. This will no doubt assist the University in its resource mobilization for
increased IGR.
Other Tertiary Institutions in Ekiti and Neighbouring States
The existence of Federal, State and even private Tertiary Institutions in Ekiti State
and other adjourning states could portend great measure of completion for the
University. Most of these Institutions run similar academic programmes with those
existing in our University and thus offer alternative options for candidates who
would have preferred our University if such other Institutions do not exist.
Furthermore, these other Institutions could offer better condition of service, which
could easily attract our well trained and experienced staff to take up appointments
with them. This portends a great challenge to the University and hence the need to
put in place adequate measure of strategies for human capital motivation, retraining, and commensurate reward and compensation for diligent performances.
This is very important as most of these competitors have access to better funding
and thus able to attract and retain competent and experienced staff from time to
time.
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT
Inadequate Manpower and other Facilities
The Bursary Department saddled with the responsibilities of managing the
finances of the University and block leakages is hitherto operating with less
than50% of the staff required to function effectively. The department also
lacks basic infrastructure for effective service delivery. Specifically, the
department is faced with the following deficiencies:








inadequate office spaces
inadequate number of computers, photocopiers and office furniture
inadequate number of air-conditioner installed in their offices
lack of online banking facilities
lack of terminal machines for service delivery
inadequate number of motor vehicles
inadequate toilet facilities; and
lack of access to multimedia facilities
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT










Current Funding and Strategies for Improvement
The University hitherto derives revenue from the following sources in
addition to the monthly recurrent subvention from the Ekiti State
Government,
Tertiary Education Trust Fund (Grants and Special Intervention Fund)
Student Tuition and Other Ancillary Fees
Student Hostel Fees
Notification of Results and Transcript Fees
Income from Bank deposits and Investments
Rent on University Property
Hire of Academic Gown/Robes
Health Services to Staff and Students
Contractors Registration and Tenders Fees
University Bus Service
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT
General Review of Existing Sources of Revenue and Strategy for
Improvement
The inevitability of having sustainable sources of Internally Generated
Revenue in Tertiary Institutions in Nigeria has become more prominent in
view of the dwindling federal revenue from oil and monumental decline in
the periodic revenue allocation accruing to each state government from the
federation account. Most state-owned Tertiary Institutions have found it
extremely difficult to perform their statutory roles due to paucity of funds as
their expectations in terms of monthly subventions have not been fully
satisfied by the state government.
This paper analyzed the various options open to the University in a bid to
expand the sources of Internally Generated Revenue, mapping out the
relevant strategies the University could adopt to improve the yields from the
current sources and harness specific alternative sources of Internally
Generated Revenue and maximize its usage to guarantee effective
sustainability.
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT








Income from Investment in Shares
Use of ICT Facilities
Consultancy services
Alumni Fees
Library Bindery and Photocopying Services
Club Registration and Renewal Fees
Donations
Endowment Fund
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT
As wide as the scope and sources of the Internally Generated Revenue
(IGR) may appear, the extent of funding through these sources still leave
much to be desired.




Strategies for Improvement
There is a wide room for improvement in the process and procedures for
harnessing revenue from the afore-mentioned sources and the following
suggestions could be relevant in respect of each of the sources.
Tertiary Education Trust Fund
The Tertiary Education Trust Fund has been a major means of financing
most of the capital projects in the University in recent times To ensure that
the University derives maximum benefit from this source, Management
should ensure:
Total compliance with the rules and regulations guiding the disbursement
and utilization of the fund accruing from this source
Adequate control measures are put in place to ensure that projects funded
through this source are executed strictly in accordance with the details
specified in the Bill of Quantities
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT




That all contracts for building construction and supplies are in full
compliance with the provisions of the National Procurement Act.
That there is proper cooperation and collaboration between the
Procurement Unit, Physical Planning, Works & Services, Internal
Audit and the Bursary department at every stage of project execution
to ensure that the University actually derive good value from the
amount disbursed for the purpose of the relevant capital projects.
All staff involved in the planning and implementation of projects
under the TETFUND programme should be properly trained to
ensure that they possess the relevant skills that could guarantee
optimum performance in the discharge of their respective
assignments.
That there is absolute transparency and proper accountability in the
management and administration of the Fund
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT




Tuition and Other Fees
This is another major source of IGR in the University. The practice
whereby the administration of the e-Payment System is being handled by
consultants leaves much to be desired. Apart from a huge percentage of the
University’s revenue accruing to the Consultants as e-transact commission
the University stands the risk of incurring substantial loss through
fraudulent practices which might not be easily detectable.
To ensure that the University derives maximum benefit from the payment of
student tuition and other fees, Management should take the following
measures:
The University’s ICT unit should develop an effective e-Payment system to
capture the payment of student tuition and other fees to save the cost in
terms of commission that is hitherto being paid to the consultants handling
the e-transact system. This will also mitigate against the fraudulent practice
that is inherent in the present approach.
The ICT unit should be adequately staffed and equipped to be able to handle
the additional responsibilities of managing the new e-Payment System.
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT



Since the state government had fixed the Tuition Fee at N30,000.00
(Thirty Thousand Naira) across board for all students regardless of
the course of study, there could still be an upward review of some
other components of the student fees such as the Acceptance Fee,
ICT, Laboratory, and Result Verification Fees payable by newly
admitted students.
The Transcript Issuance and Alumni Fees payable by each of the
graduating students could also be reviewed upward.
Similarly, the Hostel/Accommodation fee payable by the occupants
of the University’s existing Student Hostels could be increased to
make it competitive with what obtains in the environment while
Management could invest on the construction of more blocks of
student hostel through public-private-partnership arrangement to
boost the revenue from this source.
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT

Income from Bank Deposits and Investments
The University could earn substantial revenue through effective and
efficient management of short-term investment of surplus funds instead of
allowing such surplus funds to remain idle in the University’s current
accounts with commercial banks. Surplus funds could be invested in Fixed
Deposits or the Federal Government Bonds with short term maturity to
improve the University’s revenue earning capacity with little or no risks. In
making decisions on short term investment of surplus funds, Management
should consider the following measures:

In short term investment of surplus funds, consider the Bank which offers
the most favourable rates, tax implications, term to maturity, penalties for
early withdrawal, availability of bridging finance, time period, alterations in
returns for differing time periods and the inflationary risk of future
spending.

Pooling of Bank balances to give clearer view of Cash position for easy
monitoring and effective management.
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT



Adequate records, documentation and monitoring of transactions with
respect to all forms of short-term investment of surplus funds.
Establishment of IGR and Investment Division in the Bursary
department, with responsibilities for the overall coordination of IGR
mobilization efforts and profitable investment of available funds.
Maintenance of dedicated Bank account to capture and aggregate the
entire Income from Bank Deposits and Investment
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT
Rent on University Property
 Reasonable amount of revenue could be earned from the various immovable
properties of the University to boost the current IGR level. To achieve this,
Management should consider the following measures:
 Compile up-to-date record of Inventory of all the immovable property of the
University and identify those that could be hired out for revenue generation
purposes
 Get a database of ruling rates in terms of rent payable on similar property in
the immediate environment to ensure that the University’s properties are not
hired out at less competitive rate.
 Periodic review of Inventory and physical inspection of property to ensure
that they are properly maintained and that records are duly updated.
 Acquisition of more Investment Property such as Residential Quarters for
staff and other interested members of the public
 Expansion of the University Guest House, adding more to the physical
structures to accommodate more guests and facilitate greater patronage by
customers.
 Maintenance of dedicated Bank account to capture rental income on
property.
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT




Hire of Academic Gown/Robes
Management could also consider an upward review of the fee payable
by the graduating students for academic gowns.
Healthcare Services
The Directorate of Health Services hitherto renders healthcare services
to the staff and students within the University community. To boost the
level of revenue derivable through the University Health Centre, the
following measures should be duly considered by the Management:
Strengthening the Bursary Unit at the Health Centre to ensure adequate
capturing of all financial transactions within the directorate
Computerization of the revenue collection process to ensure that every
patient patronizing the Health Centre obtains valid receipts for all
payments made.
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT



Expanding the available facilities and operating capacity including
the medical personnel, to enable the Health Centre to extend its
services to the general public apart from the staff and students within
the University community.
Adequate publicity and sensitization of members of the public,
especially within the immediate host community, on the availability
of healthcare facilities in the University premises.
Revenue generated should be periodically analyzed under the
following headings:
- Student Healthcare Services
- Staff Healthcare Services
- Public Healthcare Services
This will enable the Management to ascertain the performance of
each service category and decide on measures that will facilitate
improvement and sustainability.
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT





Contractors Registration and Tender Fees
Management could also consider an upward review of the fee payable by
the each contractor at the point of registration of their entities with the
University for the purpose of executing contracts for supplies and
construction projects. To allow the University to derive appreciable revenue
from this source, Management should ensure that the following measures
are taken:
Adequate and up-to-date database are maintained with respect to all
registered contractors
Contracts for supplies and construction projects are only awarded to duly
registered contractors
Every contractor should be made to pay a fixed percentage of the contract
fee into the University Development Fund in addition to the generally
applicable deductions hitherto in place
Aggregate amount deducted from all paid vouchers/bills should be
transferred periodically into the dedicated Central IGR Bank Account
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT







University Bus Service
The existing University buses are not being use on a reasonable commercial
scale To make the buses to contribute meaningfully to the IGR pool,
Management should adopt the following measures:
Staff and students interested in the Bus Service should be made to pay
directly into a designated Bank account and obtain valid University receipt
in the Bursary department (Treasury Services Division)
Fees payable should be graduated into Weekly and Monthly rates,
depending on the individual’s requirement
Valid Bus Pass should be issued to individuals and dates/period covered
dully indicated upon payment of the prescribed fees.
Every Bus user should present a valid Bus Pass together with a copy of the
at every Bus Stop before being allowed to board the Bus
A combined team of the Internal Audit and Bursary staff should carry out
routine checks on Bus users to authenticate the validity of their Bus pass.
Fueling of University buses should always be done at the University’s fuel
dump or filing station operated within the University campus
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT




Investment in Shares
The existing portfolio of investment in securities should be reviewed
to ascertain their valuation and continued relevance. To ensure that
the University continues to derive reasonable income from
Investment in shares, the following measures should be considered:
Carry out a comprehensive review of the existing Investment
portfolio particularly the shareholdings in various industries in
different sectors of the economy
Ensure that the University has valid share certificates and all such
certificates held by third parties on behalf of the University are
retrieved and kept with the University bankers
Explore the possibility of engaging qualified stockbrokers to assist in
the effective and efficient management of the University’s
investment portfolios to guarantee maximum returns.
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT









Use of ICT Facilities
The University’s ICT directorate is another viable revenue generation unit, which
could provide appreciable and sustainable funding for the University. To ensure that
maximum benefit is derived from this source, management should consider the
following measures:
Establish a Bursary Unit and Internal Audit Unit within the ICT directorate to
facilitate adequate capturing of all financial transactions within the directorate, full
accountability, utmost transparency and integrity
Computerization of the revenue collection process to ensure that every individual
patronizing the ICT directorate obtains valid receipts for all payments made.in
respect the services enjoyed.
Expand the existing facilities and operating capacity including the bandwidth,
qualified ICT personnel, to enable the ICT directorate to extend its services to the
general public apart from the staff, students and few entities being serviced within
the University community.
Adequate publicity and sensitization of members of the public on the availability of
ICT facilities in the University premises.
Revenue generated should be periodically analyzed under the following headings:
- Student ICT Services
- Staff ICT Services
- Public ICT Services
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT
Consultancy Services
 In some universities, consultancy services are rendered in certain areas like Diploma
programme and other services to the public. This unit of revenue earning often
brings in substantial sums that assist in running other programmes. In Universities
like Lagos and ABU Zaria, University of Ibadan and Obafemi Awolowo University,
their consultancy service earns them some big sums of money. The creation of this
revenue earning unit does not require big capital but manpower resources to start
with.
 The revenue generation through consultancy service is hitherto not encouraging
given the enormous opportunities yearning to be tapped to boost the revenue from
this source.
 The EKSU Consult is a business unit saddled with the responsibility of handling
business development and income generation for the University through the
application of the available enormous resource competencies in all fields of human
endeavour to solve varieties of problems in the various sectors of the state and the
nation at large.
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT






To improve on the current level of IGR from Consultancy Services, management
should adopt the following measures:
Total restructuring of EKSU Consult to ensure that only business-oriented
individuals with background training in Accountancy, Business Administration,
Economics and allied disciplines are given the opportunity to handle key
responsibilities in the day to day conduct of the affairs and operations of the Unit.
Members of staff, both academic and non-academic, should be encouraged to enlist
as consultants and resource persons to handles all jobs to be executed by EKSU
Consult
Attractive revenue sharing formula should be established to take care of the interests
of all the relevant stakeholders in consultancy jobs execution and details be
available to all concerned to encourage full participation by all members of staff
with requisite knowledge and skills
Establish a Bursary Unit and Internal Audit Unit within the EKSU Consult to
facilitate adequate capturing of all financial transactions within the Unit, full
accountability, utmost transparency and integrity
Computerization of the revenue collection process to ensure that every individual or
entity patronizing EKSU Consult obtains valid receipts for all payments made for
services rendered.
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT








Alumni Fees
The Alumni Relations Unit and the Alumni Association could constitute
another viable source of IGR for the University and to be able to boost the
income from this source, Management should consider the following
measures:
Comprehensive Alumni tracking
Full computerization and continuous update of the Alumni database
Periodic contacts to maintain sense of belonging in Alumni Association
Upward review of the Alumni Association Fee payable by the graduating
students to say N5,000 per individual graduating student and retention of a
reasonable proportion of the amount realized by the University subject to
negotiations and concrete agreement with the Alumni Association
Encourage the Alumni Association to make meaningful contributions to the
development of the University on an annual basis
Establish a Bursary Unit and Internal Audit Unit within the Alumni Unit to
facilitate adequate capturing of all financial transactions
Computerization of the Financial Reporting Framework within the Alumni
Unit
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT





Library Bindery and Photocopy Services
The Bindery and Photocopy Unit within the University Library could also
contribute immensely to the IGR funding of the University. To improve on
the current performance of this Unit, management should take the following
measures:
General overhaul of the existing facilities and acquisition of additional stateof-the-art equipment to increase the operating capacity of the Unit
Establish a Bursary Unit and Internal Audit Unit within the University
Library to facilitate adequate capturing of all financial transactions
Computerization of the Revenue Collection Process within the Bindery and
Photocopy Unit
Periodic remittance of profits to the University through the Investment and
IGR Coordination Unit in the Bursary department (Treasury Services
Division)
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT






Club Registration and Renewal Fees
There could also be a upward review of the fee payable by clubs and associations
willing to register the names and operations within the University. The same could
also apply to those renewing their operating certificates.
Linkages/Partnership and Endowment fund
The Advancement and Linkage directorate could also make reasonable contribution
towards the IGR drive of the University. Management should consider the adoption
of the following measures in order to achieve the objectives of this Unit:
Strengthen Advancement and Linkage Directorate in terms of personnel and
necessary equipment to be able to carry out it functions in a manner that will
guarantee maximum contribution towards the IGR drives of the University
Maintenance and regular update of the database of philanthropists and donor
agencies world-wide and constant correspondences with such individuals and
entities with a view to attracting funds from them.
Establish a Bursary Unit and Internal Audit Unit within the Advancement and
Linkage Directorate to facilitate adequate capturing of all financial transactions
Computerization of the Revenue Collection Process in the Directorate
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT






University Guest House
The University guest house is currently rendering catering services to the University
during different meetings held within the University.
It also provides
accommodation services for the University’s guests directed to the Unit. It is
expected to be one of the viable investment centers of the University.
The present scale of operation of the Guest House however requires much
improvement in order to be able to generate adequate revenue to take care of its
running expenses and contribute meaningfully to the IGR drive of the University. To
achieve better performance, Management should adopt the following measures:
Expand the existing facilities and operating capacity by increasing the number of
buildings being used for accommodation purposes
Strengthening the administrative unit at the Guest House in terms of competent and
ICT compliant personnel and necessary equipment
Computerization of the billing and revenue collection processes
Establish a Bursary Unit and Internal Audit Unit within the Guest House to facilitate
adequate capturing of all financial transactions and provision of periodic financial
report for Management consideration
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT





Periodic remittance of profits to the University through the Investment and
IGR Coordination Unit in the Bursary department (Treasury Services
Division)
Introduction of care hire services
Establishment of Cybercafé within the Guest House premises for the
provision of ICT services for guests and other members of the public
Construction of high capacity hall, to serve as event center, which could be
made available to the public for use during various ceremonies
Establishment of Cafeteria within the University
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT








The University Staff School
The University currently has a Nursery and Primary School located within the GRA
near the University Staff Quarters. The contribution of the Staff School towards the
University’s IGR drive could be improved as follows:
Upward review of the Tuition Fee to make it competitive with the amount payable
by pupils in other private schools in the state
Review of the current school curriculum to be at par with international standard
Establishment of International Secondary School
Establish a Bursary Unit and Internal Audit Unit within the Staff School to facilitate
adequate capturing of all financial transactions and provision of periodic financial
report for Management consideration
Periodic remittance of funds to the University through the Investment and IGR
Coordination Unit in the Bursary department (Treasury Services Division)
Revenue realized through tuition fees should not be used for day to day expenses but
rather paid into a designated University account to be managed by the Bursary
department
Periodic running grants should be released to the Staff School and returns on the
expenses incurred via the running grants should be forwarded to the Bursar on
monthly basis.
EKITI STATE UNIVERSITY ADO-EKITI
SWOT ANALYSIS OF BURSARY
DEPARTMENT













Other Small and Medium Scale Enterprises
The University could also boost the level of IGR by embarking on the following
other ventures
Build up shops for rent
Cybercafés within and outside the University campus
Fee-for-packing lots
Launderettes
Inter-state transportation services
Renting of halls in the idle time
Petrol/Fuel Station operation
Fabricating tools from idle time of training foundries and Central Engineering
Workshop
Development of useable products from research results
Establishment of Micro-finance Bank
Establishment of Sachet and Bottled Water Factory
Establishment of Bakery