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3.0 THE STRATEGIC PLAN (CONTINUED) Table 8: Financial/Stewardship Perspective
CXC® STRATEGIC PLAN | 2021–2025
SO4: Increase Revenue
OBJECTIVES
SO5: Reduce Cost
Facilitates the increase of revenue from income fees and other income sources, such as consultancy services, grant funding, partnerships, products and other ventures.
Owner: Director of Corporate Services
Facilitates the reduction in expenditure through cost management and the efficient and effective utilisation of resources.
Owner: Director of Corporate Services
INTENDED RESULTS
Increases in other revenue over the budget as well as consultancies, grant funding, partnerships and collection methods have been realized.
The expenses and operational costs of the organization have been reduced.
KPIS AND DESCRIPTIONS
1. Increase in revenue over previous year
Tracks the performance changes in revenue.
1. Reduction in operational expenses
Seeks to track financial management and operational expenses.
2. % Increase over PY (Surplus/ Reserves)
3. % Increase over PY (Fee Income)
4. % Increase over Budget (Fee Income)
5. % Increase over PY (Other Income)
Expand Market Share
2. % Budgetary Savings (Cost vs. Budget)
3. % Compliance
Description: ... with focus on:
• work plan compliance
• budget and cash flow management
• payment procedure
• bad debt collection/reduction on aging • procurement policy
• collection
4. % Timely Payment
5. Variance Analysis – performance review
STRATEGIC INITIATIVES
Implementation of Operating Cost Management Framework
6. % Increase over Budget (Other Income)
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