Free Public Financial Management and Budgeting Essay Sample
This is the oldest University in the literally English speaking countries and it is said to have commenced offering education to it students sometimes in 1096 and this was developed well as from 1167 after the barn of student attendance to Paris University by Henry 2. This was later given the boost by the speech made by Gerald of Wales to the oxford dons and Emo of Friesland arrival as the first known oversees student in 1188 and 1190 respectively. From the Emo of Fires land era, the university basis of the international students developed significantly.
Due to rioting between the civic and gown during 13th century, the establishment of the halls of residence was hastened. These halls were later inherited by the various medieval oxford colleges that came in existence between 1249 and 1264 and the other Balliol and Merton colleges. Within a century afterwards the organization had achieved academic dominance against any other educational ventures of it time. It was accorded the praise of the pope, the kings and the sages by virtue of its relic, prospectus, the applicable doctrines as well as the privileges to its memberships. This was too backed up by the 1355 Edward 111 tribute to the university due to its priceless input to education and the learning of the globe. More over, Edward 111 did comment on the exceptional performance and loyalty of the university graduates to the state.
Since the universities childhood, controversies have been noted between the student and the religious affiliations as well as the political discipline due to the rampart disputes. The most notable was the controversy that was fueled by John Wyclif as he advocated for a argot bible in the 14th century. This was because it was against the wishes of papacy that was rampart during the era.
In the 17th century, the university played the role of the royalist during the times of civil war and Prince Charles was forced to host a conference and John Locke who was an oxford philosopher was sentenced of treason and forced to flee the realm. The university did in 18th century embrace discovery in science and revival religiously. From then henceforth the university did assume the leading role in Victorian era religion. After 19th century, the women halls were constructed and since then they were admitted. The university did in 20th and 21st century advanced its humanity attribute and it included medicine in its courses as one of the natural sciences.
Connection to public service
Being an International University it is supposed to take care of the general students from all the whole globe.it does offer educational opportunities to all the public from all sides of the globe. Due to its openness to the general public it has absolute necessary connections to it. It is connected to the public service in different angles. Beyond the giving of equal educational opportunities it is too supposed to offer job opportunities to the general public. It is an equal possible employer just like any other company as a way of giving back to the community and their contribution to the economic growth. By the employment of the various workers from the casual cleaners to the vice chancellor the university is linked to the public in a bigger way. It is through their salaries that people are able to live a decent life free of and likely economic troubles and struggles.
Through the corporate social responsibility the university is linked to the public service. It is mandated that as an organization that is open to the general public service and utilization it is ought to have a scheme that is meant to the benefit of the general public. Through the public involvement in such schemes then, the university shall be able to take care of the rules and other governing principle that are paramount to service delivery.
On top of education the university offers the public special advice on careers and other professional needs. This is a form of service that is accorded to the public by the organization making a point of contact between the two as well.
Ethical issues or dilemmas
These are matters that are open to the public debate due to their unresolved nature. This because the societal links that are associated with these matters should not be discussed by individual groups or lobbyists. The ethical dilemmas are used to test the rational system effectiveness and the consciousness levels that are arising from the matter. Ethics is a concoction of the interpersonal, assemblage and the communal politics on the basis of values and not only the achievable but more to what should be looked at in the dominion of the social synchronization and sprite. Ethic is a factor that in the university looks at the reasonable relations as well as the practical duties to the rest as an individual or corporate.
The most significant ethical issues include the:
Benefit and contributions: The benefit in this context refers to the charity that is funneled through the governing university council. Due to it, many issues are developed thus making it an issue that concerns us together. It is a matter of how the university does assist the less privileged and whether they are at a point of making the distinctions desired for the poor and deserving students as well as the un-deserving ones. In the university it requires considering how people can be irresponsible as far as the social norms do require them to try to find themselves out of the bootstraps that are their own. One example that the university is accorded to be the savior when a possible student who was born and bled in an area that does not recognize education and he didn’t go to school and the extent to which the university is supposed to offer remedial classes as training to the person.
Ethical dilemma also covers the universities responsiveness to the disabled students and the members of staff. The extent to which they are obligated to assist them and considering the current technologies that make the aid levels exponentially costly than before. It is for instance the responsibility of the university to device a scheme that caters for the welfare of children that are born from the regions perceived to be lagging behind in the economical points of view as well as the cultural basis and the technical perspectives. The extent to which the university should offer support to these people is what matters most and it inmost cases offer free remedial classes.
The usage of the addictive substances such as the dugs is also a matter that needs to be discussed in relation to the ethical dilemmas that are rampart in the university society. Some of the mostly abused substances include the usage of alcohol and drugs that are not meant for medicinal purposes and the tobacco. It is a question of whether the organization should consider the matter a disease and as a collective responsibility caters for the rehabilitation of the addicts and after the relapse whether these students should be absorbed back to the university and be allowed to go on with their education. Deciding on the metrics of addiction is also a factor that is controversial in the entity.
Environmentalism is also an ethical dilemma to the university. It is about the determination of how much they are obliged to the environment and the preservation of the flora and fauna more so in relation to their usefulness in the study of disciplines such as medicine and pathology as well as agriculture and enterprise management. The extent that is reasonable for the university engagement in the saving of the forests and many of the ecological systems is a dilemma that too surrounds the issue at hand.
Aids and the vulnerable diseases policies and ethics should be formulated to exclude the free sex clause. It is a responsibility of the university to create a place that is able to offer counseling and advice tom the students who test positive and to morally inform their kin of the matter. This unit should not only cater for aids but for the other illnesses too such as herpes and venereal infirmity.
The college supervision of the student is an ethical matter in the determination of the responsibilities that are assumed by the parties involved.
Whether the university should adopt a system that distinguishes the rich from the poor is ethically based as well.
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Management and leadership
The university is headed by a Vice chancellor who is a continuing research scientist: Professor Andrew Hamilton. He is the senior most officer of the university. He is charged with various roles such as the provision of the premeditated trend and the leadership of the organization. He is the representative of the organization in addition to the positioning of it the global, national as well as the regional scale. He is the chairperson of the council and other various committees and he is the person who nominates his deputies. He closely works with the various colleges to facilitate an articulate vision across all the subsections of the university, with the aim of ensuring that governance, management as well as the administration of the synergy is efficient and valuable.
As the vice chancellor, he is also responsible of securing and continuing the financial growth of the university and he always presides over the fundraising ceremonies. He originally was he deputy chancellor but as from 16th century, the vice chancellor became the organizations CEO. As a vice chancellor one is supposed to work for up to seven years.
Power and Influence
The organization is one of the most powerful universities in the globe due to its great emphasis on research and substantial educational programs. It has the capacity of holding students from the various regions of the globe and with varied cultures. It has gained a higher status when counter placed with the other universities of the globe with every student dreaming of joining the university as the first choice. It influences the job likeliness of one being preferred at the expense of the other students and it too facilitates the communal growth by having the varied academic programs favorable to most students’ advancement of knowledge. This is a university that is headed and governed by the vice chancellor under the lordship of the council and other primal units to facilitate accountability and responsible governance and the utilization of the resources.
It is the duty of the Vice chancellor to ensure that the various university heads are working within the limits and nobody lazies out. This is because he is responsible for all that is done by the members of board as well as the mistakes of the junior employees. He ensures that the members of staff are accountable for their day to day actions to prevent the pilling up of the disastrous minor mistakes. Accountability is one of the entities core values and the members of staff are trained on how to deal with it in various circumstances. A compromise is always not an option in the council meeting and a slight blunder makes the involved parties to be summoned and made to justify their course of action.
Collaboration and Coordination
The University is governed by the doctrines of defining the policies and coming up with realistic and practical objectives securing the scarce organizational resources. This is facilitated by the appointed senior staff to oversee the process of the objectives progression. It has the council’s stewardship of the various matters that associates with the organization affairs and suitable processes are put in place to lead the management of the entity. Their exists coordination and efficient collaborations between the various committees which includes the educational based one, the broad-spectrum purpose, personnel planning ad the resource allocation on top of the research board. Further more the financial and audit committee incorporates the audit and the scrutiny commission, finance group and the investment one.
In addition to the internal organizational coordination, it too does maintain sufficient coordination’s between the students and the outside world and the university. Collaborations in the university decisions on undertaking and course of actions is never a compromise provided it is practical to the later bit of it.
Finance and Budgeting
The economics development and treatment of the university is supported by the forecast and scrutiny team as well as the pecuniary reporting commission. The Focus and scrutiny team is charged with the responsibility of budgeting and the forecasting while the Pecuniary reporting commission is supposed to take care of the yearly reporting and preparation of the financial statements. The two teams are supportive of the planning, managing as well as the reporting of subsections budgets (Brealey, Myers & Franklin, 2007).
Budgeting and forecasting: University’s budgeting process does commence on April just before the fiscal year begins. After the budget is drafted it is then presented before the university council for endorsement. For the financial year that covers 2009 and 2010 for instance the organization has a sanctioned budget totaling to 855 million starling pounds. This is a growth in the forecast of about 6% as compared to the last financial year. The various departments are asked to avail their forecasts of expected expenditures for full fiscal year and subdivided into the quarter systems. It is mostly involved in a detailed forecast in February that is used to draft the budget.
The management of the budgets involves the steps of setting up the budget, the quarterly reporting and the forecasting as well as the year end reporting.
Challenges, Opportunities, and Trends
The challenges that face the university includes amongst other the limited funding by the government to an extent that it cannot fully support its student in research and development of practical expertise in the fields of specialization. It is had to facilitate the successful research project if the funds are not sufficient to boost the process. In sufficient staffing is a challenge too and it is due to the inability to satisfy the demands of the members on board towards self actualization. Variability in cultural backgrounds is too a challenge to the organization and it calls it to act to minimize the effects of cultural barriers amongst the students.
The university has the opportunities that are able to steer it into the University of Choice. It has the potential to develop the educational courses to include literally all the fields that are relevant to 21st century as opposed to the absolute and untimely traditional systems that are offered by its colleagues and peers.
A trend of increasing in the student number admission is notable which has too facilitated the trend son budgeting and financial planning.