The Finance section has a duel responsibility to Central Finance (CF) and the International Office (IAPO). Our section manages and oversees all financial requirements for international students and for IAPO as an entity. We ensure that all institutional and IAPO-generated financial guidelines and policies are adhered to. In addition to this, we provide cross-sectional financial support and expertise to all IAPO-staff pertaining to events, conferences, workshops, partnerships, programmes and projects that require financial input. This includes the consolidation of annual budgets and providing forecasts on a quarterly basis. We are responsible for approximately 5 000 international students who require finance clearance annually.
Our key financial responsibilities are divided into two categories: Continuing and Non-Continuing Financial Operations
- Continuing Financial Operations
We ensure that proper financial disclosure and governance are implemented; especially for our flagship semester study abroad and full degree mobility and exchange programmes. This also applies to our short-term international programmes which are showing significant growth.
A key aspect is our involvement in calculating international fees, which is benchmarked with foreign and our South African Institutions.
- Non-Continuing Operations
All non-continuing operations involving donors, foundations and funded mobility programmes require in-depth financial modelling and expertise from our finance section. We work closely with our Treasury and Central Finance departments to minimise risk and ensuring that UCT’s excellent universal reputation remains intact. Our key non-continuing operations involve the following programmes funded by various foundations and EU Partners:
- MasterCard Scholars Program
- INTRA-ACP Mobility Programme
- US Direct Loans
- Various USHEPiA Cohorts funded by the Mellon, Rockefeller and Carnegie Foundations
- The Eric Abrahams Visitorships Programme, funded by the Sigrid Rausing Trust
- Various Mobility and Exchange Programmes, funded by the European Union (EU)