swot analysis of bursary department. ekiti state university ado-ekiti swot analysis of bursary...

SWOT ANALYSIS OF BURSARY DEPARTMENT

EKITI STATE UNIVERSITY ADO-EKITI

PRESENTED AT

THE IGR SUMMIT

BY

MR. A. TAIWO

UNIVERSITY BURSAR

EKITI STATE UNIVERSITY ADO-EKITISWOT 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.


SWOT analysisSWOT 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.


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.


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


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.


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.


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:


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).


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


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.


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.


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.


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


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.


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.


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.


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, re-training, 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.


Inadequate Manpower and other FacilitiesThe 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


Current Funding and Strategies for ImprovementThe 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


General Review of Existing Sources of Revenue and Strategy for ImprovementThe 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.


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


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


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


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.


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.


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.


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


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.


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.


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.


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


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


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-EKITISWOT ANALYSIS OF BURSARY DEPARTMENTUse 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


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.


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.


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


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 state-of-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)


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


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


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


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.


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

swot analysis of bursary department. ekiti state university ado-ekiti swot analysis of bursary...

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