By Manie Lombard, Chief Director Finance
Howdy partner! It is the cowboy way of saying hello and welcome and my greeting to the Finance division team, with a special "howdy" to the newcomers.
We are at the end of another extraordinary year since 2019, when we embarked on the SUNFin journey. Although we still feel overwhelmed by the Jiras, remarks, questions and comments, we are starting to settle into the new way of work. Well done to every one of you; you are real stars in the SU universe.
We are still experiencing several challenges: SUNStudent implementation project, NSFAS issues, continuing economic challenges of high interest rates, fuel prices, other living cost increases, low levels of government grants and subsidies, and geopolitical instability with ongoing wars in Ukraine and the Middle East. However, we have also experienced the quality of South Africans working together and communities supporting each other.
Our division successfully delivered on our goals for the year; these were:
Normalise SUNFin in production through effective support and training — we are now at a 93 per cent resolution rate of Jiras;?
Proceed with aligning the Finance Structure with best practice processes and workflows, including the current peromnes evaluations – to be done at the end of 2024 as planned and physical space planning and renewal with Admin A and B and C in the final planning phases for construction work in 2025.
SUNStudent's implementation, although challenging and still at a critical phase where we contracted the internal auditors to do verification work to ensure completeness and accuracy of income, expenses, and outstanding balances.?
The further evolution of the Budget Model for financial sustainability, including refining the integrated budget for all five income streams, hybrid learning, two schools, longer-term capital plan and cash flow planning.
Planning to implement EPBCS for financial planning and budgeting in the cloud solution space.
Concerning staff wellness, we need to ensure, especially now with the pressure of year-end of our second in SUNFin, the many SUNStudent challenges, especially in the Student Finance division, NSFAS, regulation of student fees, changes in our auditors after the tender process and the upcoming bank tender in 2025, that we support each other and where there is any need for further support, please let us know so we can get professional support. Our staff’s wellness is our top priority.?
We also focus monthly in our divisional heads meeting on risk management, approved strategy implementation plans, staff development and transformation, communication, and progress with our language implementation plan.
Everyone is kindly requested to support the 2024 year-end external audit and reporting to ensure another clean and unqualified audit report. This is an essential element of the international rating of SU to attract growing international funding in an increasingly competitive global environment.
I want to close with a reflection by the legendary cowboy, although mainly in movies and still alive at 94, Clint Eastwood, who formulated one of the essential lessons of his life so far for younger generations:
“Do not look for luxury in watches or bracelets, do not look for luxury in forks or sails. Luxury is laughter and friends, luxury is rain on your face, luxury is hugs and kisses. Don't look for luxury in shops, don't look for it in gifts, don't look for it at parties, don't look for it at events. Luxury is being loved by people, luxury is being respected, luxury is having parents alive, luxury is being able to play with your grandchildren, luxury is what money can't buy."
?Thank you to each member of our Finance Team for everything you have done to make this an extraordinary year again and Stellenbosch 肆客足球 an exceptional place to work. Please have a wonderful break, and I look forward to teaming up again and working with you in 2025! ?
