CUT Annual Report 2015

ENHANCE THE FINANCES OF THE UNIVERSITY
Performance indicators: Devising strategies to diversify the support base for the institution; ensuring institutional advancement and better
financial sustainability through the strategic partnerships; reorganising the centres and business-oriented units; and targeted and judicious use
of the strategic budget.
Successes
Long-term investments decreased by R83 million to R155 million, as investments of R98 million were withdrawn, and there were net returns of
R15 million. Cash and cash equivalents decreased by R85 million to R20 million (this being R43 million reduced by the R23 million overdraft
facility) for the year ending 31 December 2015. This decrease in cash is attributable to the DHET infrastructure development projects’ payments.
The NSFAS loan repayments were received before year-end.
Financial aid was awarded to students in 2015, namely R19 million from CUT funds and R161 million from NSFAS grants. Funding to the value
of R34 million was also received from externally funded bursaries. 2 741 students received bursaries from CUT funds, while 3 827 students’
bursaries were funded with NSFAS funding. The amount allocated for bursaries is depicted in the graph below.
CUT bursaries
200
161
150
R Million
100
50
0
19
CUT funds
NSFAS funds
Source
34
External funds
Figure 2: Financial aid
CUT ANNUAL REPORT 2015
19