VUT_Report 2018_Finale

VAAL UNIVERSITY OF TECHNOLOGY
ANNUAL REPORT 2018
Foundation with a view to establishing partnership and
collaboration which would be the creation of an African
Research Centre and a Human Rights Centre.
Given the enormity of the challenges and in particular, the financial
position of the University, the Vice-Chancellor and Principal
will be reviewing the University business architecture with the
intention of ensuring financial efficiency and effectiveness.
The Vice-Chancellor and Principal will continue to engage
with the various internal and external stakeholders as part of
positioning the University, building the new culture and forging
new linkages.
Together with the management team, we are committed in
ensuring success of the University, our staff, students and those
members of the community who continue to engage with us in
various ways.
Without the support of Council, we would not have been able
to record these achievements and so, our gratitude goes to all
members of Council in their various capacities.
PROF IL RENSBURG
ADMINISTRATOR
The Vice-Chancellor and Principal is optimistic and committed to
the overall success of the University.
Conclusion
Our financial position remains a great concern, we are
however committed to finding financially sustainable
solutions. We remain committed to the academic project and the
overall transformation of the University. Our main commitment
is to contribute positively towards the nation building project.
We are however, very mindful of both the salary bill and the
income levels as well as the associated risks. We have also taken
particular note of the areas of underperformance and
management is committed in ensuring improvement in these
areas.
We have also taken special note of the University’s financial
situation arising from the external audit findings. These in
our viewpoint to weaknesses in internal control measures. As
directed by Council, we continue to take appropriate
measures to strengthen our systems. Management on its
own has already initiated financial review processes to look at
sustainable solutions.
To ensure quality and reliable information for management
decision making, we are continuing to implement the HEDA
system across the University. The system was adopted given
its ability to produce critical management information. The
Strategy review process has also afforded us the opportunity to
review and strengthen our management information systems.
Despite the challenges, our fulfillment is drawn from witnessing
many of our students who pass through the graduation stage
and many of our staff members who continue to work hard and
record significant achievements in their various academic fields.
The commitment of our administrative staff to the service of our
students and our community is mostly appreciated.
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