Finance and Infrastructure Plan 2009–2013
Context
University of the Sunshine Coast (USC) is one of the country’s fastest growing universities and, since its establishment has focused on regional engagement, campus development, innovative programs, a personal approach to learning, and in recent years accelerating its research performance and increasing international student numbers.
Given its growth trajectory, innovative design and use of learning spaces is increasingly important. USC has been developed with an emphasis on ‘human scale’ and this commitment will continue in its planning for the optimum use of facilities and resources to meet student needs.
The University’s relationship with its region and commitment to engaging productively with it are fundamental, motivating the Mission:
To be the major catalyst for the innovative and sustainable economic, cultural and educational advancement of the region, through the pursuit of international standards in teaching, research and engagement.
USC operates in a sector that has responded to significant challenges in the last few years. These challenges will continue over the medium to long term with the Review of Australian Higher Education setting out the rules of engagement for a policy and political debate on the core issues universities will need to address in the next fifteen to twenty years.
For the first time the supply of Commonwealth supported places exceeds the level of demand across the sector, and international student demand is being impacted by a range of emerging factors including the strong Australian dollar, escalating aviation fuel prices and increased competition from providers in other countries. Coupled with a strong domestic labour market these factors make for a challenging outlook.
USC has set a target of 5000 EFTSL by 2010 plus set minimum growth rates each year to meet this target. In 2006 and 2007 the minimum growth requirements were surpassed by approximately 11% each year and it is projected that this will also be the case in 2008.
The Finance and Infrastructure Plan provides a strategic framework for ensuring the longer term financial viability of the University and for development and investment in strategic and sustainable physical and virtual infrastructure that will position USC as a ‘world-class’ teaching and research institution as well as one that engages effectively with a rapidly growing regional community.
The Plan is one of eight functional plans, all of which have a five year outlook and are positioned under the institutional plan. Each plan provides tangible support for the priorities contained in the institutional plan, including learning and teaching and research and innovation aspirations.
Since enrolling its first students in 1996 USC has grown to over 6,000 students, and has accomplished much with limited resources. This is testimony to the dedication of staff and the strength of its relationship with the regional community. To ensure the University continues to gain strength it is important to ensure that there is a consistent financial framework, where planning, budgeting, performance and reporting are aligned. This will require further changes in the way in which resources are allocated and managed and involves a move to a stronger accountability framework.
Aims
The Finance and Infrastructure Plan supports, in a prudent and financially responsible manner, the realisation of USC’s long-term strategies that focus on the two major themes of regional engagement and sustainability. It also gives effect to the ambitions of building a strong international reputation for local, national and international engagement, teaching and research, efficient use of natural resources, sensitive integration of built and natural environments and the development of sustainability themes through sustainable academic programs. This will be achieved by:
- Creating the capacity for the University to strategically invest for the future;
- Providing incentives for growth, strategic investment, excellence and productivity improvements;
- Developing a mix of assets and infrastructure that responds to the diverse needs of students, staff and the regional community;
- Implementing a strong accountability framework which drives the deployment and management of resources;
- Further implementation of the quality system which will enable strategies to be evaluated in part by tracking progress against indicators.
Objectives and strategy
Objective 1: Responsibly deploy resources and infrastructure to support the University’s Mission and Functional Plans
Strategies
1.1 Deploying and managing resources to provide incentives for growth, innovation and diversity of income in support of USC’s innovative and effective teaching and research and regional engagement by:
- Balancing the University budget between development and sustainability
- Continuing to adopt innovative models for campus planning and development which include sub-tropical architecture and have a positive environmental impact
- Collaborating with other organisations to develop and share infrastructure in the region
- Utilising financing strategies such as the Education Investment Fund and sustainable debt financing.
1.2 Strengthening the University’s financial position through revenue generation from diverse sources, including:
- Domestic and International fee income
- Research and consultancy income
- Endowment and fundraising income
- Partnerships through Regional Engagement.
1.3 Implementing a transparent methodology for the allocation of resources, which supports areas of growth as well as maintaining existing priorities by:
- Investment decisions which are supported by business plans
- Formal review and approval of annual and reforecast budgets
- Use of performance data to inform resourcing decisions
- Increase in the Vice-Chancellor’s Strategic Development Fund each year by at least double the rate of DEEWR indexation
- Introduction of Performance Pool Funding in 2010 with allocations based on key performance outcomes
- Distribution of research funding including IGS, RIBG, and RTS to develop regional, national and international research excellence and on the basis of performance
- Monitoring the distribution of APT positions across the University, taking into consideration the efficiencies of a predominantly centralised set of administrative functions
- Reviewing the model for resource allocation to faculties.
This will be measured by:
Strategic Plan Key Performance Indicator 1.6
| Description |
Measure |
Target |
Responsibility |
| Revenue by source categories |
The University’s economic dependency on Commonwealth Government funding |
Increase percentage of research and commercial revenue as a percentage of total revenue each year |
VC,DVC,PVC,CFO, Deans, Directors and EO Foundation |
|
|
Reduce University’s dependency on Commonwealth Government funding to 70% of operating grant by 2010 |
|
Strategic Plan Key Performance Indicator 3.2
| Description |
Measure |
Target |
Responsibility |
| Research income |
Annual research income generated by T&R staff member FTE |
Annual research in average research income (HERDC data) per T&R staff FTE |
DVC, Deans, Director TARS |
|
|
Annual increase in total research income (HERDC data) |
|
Objective 2: Support the University’s Mission, Values, Goals and Strategies and adopt a continuous improvement culture which seeks to enhance productivity while complying with governance and accountability obligations
Strategies
2.1 Ensuring a balance between income, expenditure and strategic priorities that support our commitment to the community and region.
2.2 Complying with the University’s policies and procedures and all binding international, national and state legislation, accountability frameworks, regulations, codes of practice, standards and principles of good governance that are measured by:
- Satisfactory internal and external audit reports and unqualified annual financial reports
- Systematic assessment of the extent to which there is compliance.
This will be measured by:
Strategic Plan Key Performance Indicator 1.3
| Description |
Measure |
Target |
Responsibility |
| Operating margin |
Operating profit as a proportion of total revenue |
2009: 3%
2010: 3.5% |
CFO |
Strategic Plan Key Performance Indicator 1.4
| Description |
Measure |
Target |
Responsibility |
| Liquidity ratio |
University’s ability to repay short term debts (current assets over current liabilities) |
1.3:1 |
CFO |
Strategic Plan Key Performance Indicator 1.5
| Description |
Measure |
Target |
Responsibility |
| Employment costs as a percentage of revenue |
Employee benefits costs as a percentage of total revenue |
Less than 60% |
VC, DVC, PVC, CFO, Deans and Directors |
Finance and Infrastructure Key Performance Indicator 2.1
| Description |
Measure |
Target |
Responsibility |
| Net assets |
Increase in net assets as a % of total assets each year |
4% for each year of the triennium |
VC, DVC, PVC, CFO, Deans |
Objective 3: Provide an infrastructure which supports USC’s mission to catalyse regional advancement, through its Innovation Centre and other initiatives, as well as facilitating its planned growth of students, staff, research and academic programs
Strategies
3.1 Ensuring sustainable infrastructure that meets the current and future needs of teaching, research and regional engagement and is flexible and innovative in design to meet changing circumstances by:
- Developing infrastructure that is distinctive and sustainable through environmental leadership and a commitment to developing the University and its surrounds as an environmentally sensitive exemplar
- Providing physical and virtual environments which are informed by and responsive to student learning needs
- Integrating IT investment into infrastructure investment decisions regarding physical space
- Providing a leading role in the initiatives and development of the infrastructure in the region adjacent to the University, including transport links and roads, in particular, as they relate to the Sippy Downs town centre.
This will be measured by:
Strategic Plan Key Performance Indicator 8.1
| Description |
Measure |
Target |
Responsibility |
| Operating expenditure allocated to environmental sustainability |
Capital projects which facilitate sustainability |
Increase proportion of operating expenditure allocated to capital projects each year |
Director, Capital Programs and Operations |
Strategic Plan Key Performance Indicator 8.2
| Description |
Measure |
Target |
Responsibility |
| Energy consumption |
Power usage Gross Floor Area (GFA) |
Maintain 11.3 kwh/m² per annum |
Director, Capital Programs and Operations |
|
|
Maintain 135 kg of CO²/m² per annum |
|
Strategic Plan Key Performance Indicator 8.3
| Description |
Measure |
Target |
Responsibility |
| Water consumption |
Water usage per EFTSL |
Maintain 5kL per EFTSL per year |
Director, Capital Programs and Operations |
Council Approval: C08/69, 19 August 2008
Amendment approved by Vice-Chancellor and President 21 April 2009
END
Back to top