Position of University Bursar Applicant: Joshua S Karamagi Finance Department Business Plan For the 5 years from 2010 to 2014

Position of University Bursar Applicant:

Joshua S Karamagi

Finance Department

Business Plan

For the 5 years from 2010 to 2014

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



MISSION / STAKEHOLDERPERSPECTIVE

LEARNING AND GROWTH PERSPECTIVE

INTERNAL PROCESS PERSPECTIVE

VISIONPERSPECTIVE

Human Capital

Information Capital

Organisation Capital

• Budgetary Control• Internal Control System• MIS / Costing• Cost control & Cash management• Treasury Mgt.• SFM.

Financial MgtProcesses

Culture TeamworkAlignmentLeadership

New ERP 10 innovations BCP + DRP

Development Reward / Equity

• Fee collection• Student debtors information• Student payments system• Banking framework• Student Unit Cost / Fee justification

Student serviceProcesses

• 10 ICT innovations• Intra-University Flash reporting• Benchmarking• Investments• Staff performance measurement• Mgt. Accounts

InnovationProcesses

• • IFRS reporting• “Big Four” audit firm• Auditor General• PPDA Compliance• NSSF issues• NIC / Pension issues• Taxation

Regulatory Processes

Rationalisation

Control &Safeguard

AccountabilityQuality

informationEfficiency &

QualityReward & Equity

Opportunity &Team identity

External Stakeholders: MUK, GOU, Donors, and Auditors

Compliance

Internal Stakeholders: Students , General and Finance Staff

“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.”

Critical Success Factors

SFM Strategic Financial Management

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# Item Detail

1 Name: Joshua S Karamagi.

2 Profession: Certified Public Accountant (U), (K).

3 DOB: 27 February 1972.

4 Current Position Assistant Commissioner (Treasury), Ministry of Finance.

# Employer Position Responsibilities

1 Ministry of Finance

Asst. Commissioner (Treasury)Jul 2007 to date.

• 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.

2 NSSF Chief Finance Officer (CFO)Dec 2003-Jul 2007

• Leading the Finance Department.• IFRS reporting / Ext. Auditors.• Budgeting process.• Departmental Strategy.• Member of Executive Committee.• Cash flow management.• Capital Expenditure planning.• Procurement oversight.

3 Uganda Breweries Ltd

Chief AccountantOct 2001-Nov 2003

• Product pricing.• Capital Expenditure appraisal.• Budgetary control.• Tax planning.• Monitoring & Evaluation.

4 Africa Online Ltd

Chief AccountantJan 2000-Sep 2001

• Financial reporting & analysis.• Operational mgt. of Finance Department.• Tax planning.• Staff mgt. Including training.

5 Celtel Ltd Financial AccountantAug 1998-Jan 2000

• Collection and dissemination of financial data.•Trend analysis.• Preparation of management reports.

6 Price Waterhouse

Audit SeniorJul 1995-Jul 1998

• Supervision of corporate audits.• Financial consulting in areas of Donor Aid, Project Management etc.• Financial services auditing and advisory experience.



BIO DATA:

# Degree/PQs Institution Period

1 MBA Edinburgh Business School, Scotland, GB.

2004 - 2005

2 CPA (U), (K) Strathmore College, NBI, Kenya

1996 - 1999

3 B.Com (MUK)

Makerere University, Kampala, Uganda

1992 - 1995

EDUCATIONAL BACKGROUND:

WORKING EXPERIENCE:

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FINANCIAL MGT.

& CONTROL

BUDGETING

PROCESS

REVMOB,

COLLECTION &

COST CONTROL

OPTIMAL USE &

SAFEGUARDING

ASSETS

STAFF

MANAGEMENT

ICT APPLICATION

OTHERS

• Planning and time mgt.• Inter-department co-ordination.• 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.

• Reliable record of ownership, state, value of assets• Asset productivity measurement and monitoring. • Physical security and asset movement controls.

• Quality and Quantity• Motivation• Retention• Training• Performance measurement systems• Reward & Equity

• Capex justification• System development• User training• “Resistance to Change”.• “Fear of the Unknown”.

• NSSF outstandings.• NIC pension issue.• Streamlining procurement (PPDA).• Grant Accountability.• Political issues (PAC, HE etc).• Student Unit Cost / Fee justification• Taxation.

• 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

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“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.”

Externalstakeholders

Internalstakeholders

Our Mission

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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.


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REVMOB, COLLECTION & COST CONTROL


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


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.


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.

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STAFF MANAGEMENT


1 Effect a staff rationalisation process (Needs assessment, quality review, hires and fires).


2 Implement an IT-based staff Performance Measurement System (PMS).


3 Perform a market-based staff remuneration survey and review, recommending adjustments where justified.


4 Carry out technical, soft skills and team-building training for staff.

12 months . Due date December 2010. (Repeat annually).

ICT APPLICATIONS


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.

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OTHERS


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.


3 Negotiate an amicable closure to the staff pension fund issues with NIC, avoiding any adverse legal action.


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.


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).

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Documents

Position of University Bursar Applicant: Joshua S Karamagi Finance Department Business Plan For the 5 years from 2010 to 2014