ONSHORE & OFFSHORE FINANCIAL PLAN GUIDE

Transcription

1 ONSHORE & OFFSHORE FINANCIAL PLAN GUIDE PREAMBLE Purpose: The purpose of the onshore & offshore financial plan template is to simplify the feasibility study for a program to be conducted with an onshore & offshore partner. The reason for using a template is to minimise errors and to facilitate comprehension through consistent presentation. OPENING THE TEMPLATE When opening the template using Excel 2007, please ensure Macros is enabled. Please click "Options" when the Security Waning prompted as shown below. Then, select Enable this content and click OK Click Options Select Enable this content Click OK Page 1 of 11

2 TABS IN WORKBOOK There are two tabs in the workbook: Inputs - This is the tab for inputting information relating to the proposed program. Information input into this sheet will automatically feed into the calculations on the Financial plan sheet; and Financial_Plan - This tab calculates the Surplus/(Deficit) of the proposed Financial Plan based on the information provided and is used alongside the Inputs tab by Financial Services in reviewing the proposed Program. PASSWORDS AND WORKSHEET PROTECTION The Financial Plan tab is password protected. Protection has been enabled to prevent accidental changes to formula to increase the reliability and accuracy of the completed Financial Plan. The options available on the Inputs tab should be sufficient to cater to most situations. However, should this not be the case or if there is an issue with the calculation formulas, please contact the Senior Accountant - Financial Analysis and Treasury to discuss the problem on (08) GUIDE TO USING THE FINANCIAL PLAN TEMPLATE INPUT FIELDS Legend: Type in details and values as required (Leave cell blank if not applicable) Select from drop down menu Type in details and values as required where assumptions differ between study periods Information not required (Leave cell blank) INPUT PROMPTS Where appropriate, each input cell will prompt the user with the information required when it is selected e.g. when the School input cell is selected, a text box appears prompting the user to Type in the name of the school proposing the program. Instruction Prompt Page 2 of 11

3 SECTION A PROGRAM DETAILS Enter the School prosing the Offshore / Onshore Plan, Faculty, Name of the Collaborator, the Course to be conducted and start year in the cells as indicated. School: Type in the name of the school proposing the Offshore / Onshore program. Faculty: Type in the name of the faculty proposing the offshore/ onshore program. Collaborator: Type in the name of the Offshore / Onshore Program Collaborator. Offshore/ Onshore Program Name: Type in the name of the Offshore / Onshore Program Collaborator. Start Year: Type in the year the proposed program will begin. Location: Select the location the program will be taught. Study Periods: Select whether the program is run on a Semester (2 study periods per year), or Trimester (3 study periods per year), or Trimester A (4 study periods per year). Select Location Page 3 of 11

4 If the proposed location is not available, please input details in the table as shown below and select using the menu option shown above. Input Location SECTION B INFLATION / TAXATION ASSUMPTION Input details regarding Inflation, Taxation, Salary on costs (Superannuation, payroll Tax, Workers Compensation, salary increase) for Curtin Staff and Non Curtin Staff. Inflation on proposed Fee per Unit: Type in the inflation percentage applicable to Proposed Fee per Unit. Nb If proposed fee changes per study period, please input details in the section below "Proposed Fee per Unit" for each study period applicable. Curtin Staff Superannuation: Type in the Superannuation percentage applicable to Curtin Staff.Nb This will be applied against the "Base Salary Cost for Teaching Staff - Fixed" Curtin Staff Payroll Tax: Type in the Payroll tax percentage applicable to Curtin Staff. Nb This will be applied against the "Base Salary Cost for Teaching Staff - Fixed" Curtin Staff workers Comp: Type in the Payroll tax percentage applicable to Curtin Staff Nb This will be applied against the "Base Salary Cost for Teaching Staff - Fixed" Curtin Staff EBA: Type in the EBA percentage applicable to Curtin Staff. Page 4 of 11

5 Nb This will be applied against the "Base Salary cost for Teaching Staff - Fixed" and "Base Salary cost for Administration Staff". Non Curtin Staff Superannuation: Type in the Superannuation percentage applicable to Non- Curtin Staff. Nb This will be applied against the "Base Salary cost for Teaching Staff - Sessional" Non Curtin Staff Payroll Tax: Type in the Payroll tax percentage applicable to Non-Curtin Staff.Nb This will be applied against the "Base Salary cost for Teaching Staff - Sessional" Non Curtin Staff Workers Comp: Type in the Workers Compensation percentage applicable to Non-Curtin Staff. Nb This will be applied against the "Base Salary cost for Teaching Staff - Sessional". Non Curtin Staff Salary Increase: Type in the salary increase percentage applicable to Non- Curtin Staff. Nb This will be applied against the "Base Salary cost for Teaching Staff - Sessional" in the second and third year of the program. Inflation on Non-Salary costs: Type in the inflation percentage applicable to all other nonsalary related costs and overheads. Royalty percentage split-subject to Withholding Tax: Type in the percentage of income that is subject to Withholding tax. For example: Singapore Campus = 25%. Service Fees percentage split-exempted: Type in the percentage of income that is considered as Australian Service Fees and therefore exempted. For example: If Singapore Campus = 75%. Withholding Tax rate on Royalty: Type in the Withholding Tax Rate percentage applicable to the offshore location. Nb: Singapore Campus = 10%; Sarawak campus = 10% & Others: please check with Taxation team. Withholding Tax Rate on Foreign Service Fees: Type in the Withholding Tax Rate percentage on foreign service fees applicable to the offshore location. Nb: if Singapore Campus = 17%. Cost of Managing Tax Affairs: Type in the cost per study period for managing tax affairs. Page 5 of 11

6 SECTION C STUDENT FEE / INCOME DETAILS Input Student Fee / Income Details. Number of credit point per unit: Type in the number of credit points per unit applied against all study periods. Full time Student Load: Type in the number of credit points required for full time student load applied against all study periods. Units per Study Period Offered: Type in the number of units offered on the program per study period. ie where the number of units offered does not vary across study periods. Enrolled Units per Study Period: Type in the number of units students take per study period. i.e. where the number does not change across study periods Curtin Taught Unit Per Study Period: Type in the number of Curtin taught units per study period if applicable. Applicable for collaboration in Vietnam. Proposed Student Enrolments: Type in the proposed number of student enrolments per study period. Enrolled Students per Curtin Taught Unit: Type in the number of student enrolments per Curtin taught units per study period if applicable. Applicable to collaboration in Vietnam. Proposed Fee per Unit: Type in the proposed fee charged per unit. This will be multiplied by the proposed inflation rate per year, except where proposed fee is input for each study period. Currency Collected by Curtin: Select the currency which Curtin University receives. Exchange Rate: If the currency collected by Curtin is not in Australian Dollars (AUD), type in the foreign currency exchange rate applicable. Refer to Senior Accountant - Financial Analysis & Treasury for relevant exchange rates. Gross Fee Basis: Select the Fee Basis ie Flat Fee per Unit; or Fee per Unit per Student. Section D - OTHER INCOME DETAILS (FOR CURTIN SARAWAK ONLY) Foreign Services Fees: Type in the percentage of income that is considered as Foreign Service Fees. If Curtin Sarawak = 12% for Undergraduate and Postgraduate programs only; If income is not the above = 0% Teaching visits rate per visit: Type in the proposed fee charged per visit. For Curtin Sarawak: Postgraduate: A$2,000 per visit; Undergraduate: A$1,800 per visit Academic (Administrative) visit rate per day: Type in the proposed fee charged per day. For Curtin Sarawak is A$250 per day to a maximum of A$1,500. Page 6 of 11

7 Moderation visits rate per day: Type in the proposed fee charged per day. For Curtin Sarawak is A$250 per day to a maximum ofa$1,500. Daily allowance: Type in the proposed fee charged per day. For Curtin Sarawak is A$100 per day to a maximum of 7 days. Marking Fees: Type in the proposed fee charged per paper. For Curtin Sarawak is A$25 per paper. SECTION E DIRECT PROGRAM COSTS Input Direct Program costs details. Payment to Collaborator: Type in the percentage of Student Fee/Income payable to the Collaborator for each study period Payment to Curtin- Curtin Taught Unit: Type in the percentage of Student Fee for each Curtin taught unit per student payable to Curtin for each study period. Applicable to SEAMEO RETRAC. Payment to Collaborator - Other deductions: Type in other costs deducted; if applicable. Eg Enrolled Nursing Pathway Number of Academic visits per study period: Type in the number of Academic visits per study period (for teaching). ie where the number does not change across study periods. Length of stay per Academic visit: Type in the length of stay (in days) spent offshore for each Academic visit ie number of nights stayed. Number of Administration visits per study period: Type in the number of Administration visits per study period. ie where the number does not change across study periods. Length of stay per Administration visit: Type in the length of stay (in days) spent offshore for each Administration visit ie number of nights stayed Airfare Cost per return trip: Type in the cost of an Airfare to the Offshore location ie Refer to the "Travel Costs Table" or latest available estimate. Accommodation Cost per night: Type in the cost of one nights accommodation at the Offshore location ie Refer to the "Travel Costs Table" or latest available estimate. Per Diem (General Expenses Cost) per day: Type in the daily per diem cost for the Offshore location ie Refer to the "Travel Costs Table" or latest available estimate. The cost is applied against the number of visits and length of stay (+ 1 day for travel). Page 7 of 11

8 Number of teaching hours per unit (taxable): Type in the number of Curtin taught hours per unit on face to face teaching taxable under overseas services provided. Number of teaching hours per unit: Type in the number of Curtin taught hours per unit. Number of sessional hours per unit: Type in the number of Curtin taught hours per unit. Base salary cost for teaching staff fixed: Type in the fixed academic staff salary cost rate per hour. This will be multiplied against the no of units taught per study period, no of teaching hours per unit, oncosts and inflation increase if applicable Base salary cost for teaching staff sessional: Type in the sessional staff salary cost rate per hour ie salary costs related to relief teaching. This will be multiplied against the no of units taught per study period, no of teaching hours per unit, oncosts and inflation increase per year if applicable. Base salary cost for administration staff: Type in the administration staff salary cost rate per day. This will be multiplied against the length of stay for each visit and EBA increase each year if applicable. HOS Allocation: Type in the allocated Head Of School Costs per EFTSL. Marking Fees: Type in the cost for Marking exams per Student / per unit. Course Materials: Type in the cost for Course Materials per student / per unit. Academic Administration: Type in the cost for Academic Administration per student / per unit. Clerical Administration: Type in the cost for Clerical Administration per student / per unit. Other Variable: Type in the cost per student / per unit as applicable. Page 8 of 11

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10 Examination Fees: Type in the Examination cost per Unit. Unit Controller Fees: Type in the Unit Controller cost per Unit. Unit Preparation: Type in the Unit Preparation cost per Unit. Moderation Fee: Type in the Moderation cost per Unit. Course Development Costs: Type in the Course Development cost per Unit. Consumables: Type in the Consumable cost per Unit. Other Fixed: Type in the relevant other cost per unit. Contingencies: Type in the Contingencies percentage of Net Fees (minimum of 5%). SECTION F OVERHEAD COSTS Input overhead cost details. Faculty Overheads: Type in the Faculty Overhead cost per EFTSL. University Overheads: Type in University Overhead cost per EFTSL and the Weighted EFTSL on the University Overhead cost (Partner Offshore = 10%; Partner Onshore = 20%). SECTION G ADJUSTMENT FOR PERIOD Input in this Section if Assumptions differ between Study Periods and select "Yes" where relevant. Select whether the assumption changes per period. If "Yes", please input relevant values for each study period; If "No", please leave cells blank. Example: If number of proposed student enrolments different between study periods, e.g. 20 for Semester 1, 25 for Semester, then select Yes, leave cells for Proposed Student Enrolments blank and type in the minimum number of student enrolments for this study period as shown in the table above. Page 10 of 11

11 FINANCIAL PLAN Based on the information provided in the Inputs Tab, the proposed Financial Plan is generated as shown in the table below. Page 11 of 11