Finance

The Academy will finalise the transition towards an independent financial management system. The aim is to operate as an independent, autonomous entity as prescribed by law, with its own budgetary allocation and financial management system.
 

Infrastructure sharing: The Academy will have an independent budgetary allocations, but will continue to utilise the financial systems provided by the government, pertaining to the use of accounting systems and salaries software.
 

Transparency and accountability: The Academy has established a policy of autonomy with full accountability for its actions and operations, including all activities regarding accounting, purchasing, salaries, operations, procurement and general financial management. For this purpose, full reporting on all activities will be established.
 

Management accounts: The finance section is responsible for issuing monthly management accounts with full details of income and expenditure, balance sheets, asset lists, creditors and debtors lists, cash flow and budgetary control reports.
 

Budgeting for 2018 and beyond: The budgetary exercise in the first year will prepare for the increase in operational functionality in the subsequent years. Budgets for the Academy need to increase substantially as the organisation moves to autonomous accounting systems and more educational activities.