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Last Updated: Feb 13, 2017 - 1:45:37 AM |
NASSAU, Bahamas - The College of The Bahamas wishes to inform the public that great efforts are being made to improve the financial administration of The College.
· The College will complete the required Financial Audits to begin drawdowns from the Caribbean Development Bank loan in January 2016. Initial drawdowns will prioritize all aspects of “Institutional Strengthening.”
· The College has a Chief Internal Auditor and frequent internal audits are being done across the institution.
· The College has also hired a Financial Administrative Consultant through the Registry for College and University Presidents, based in Peabody, Massachusetts, Dr. Paul Bylaska. Dr. Bylaska, most recently served as Vice President of Finance and Administration at Clarion University of Pennsylvania. He was responsible for the budget, accounts receivable and payable, human resources and payroll, purchasing (including procurement and disbursement), and general ledger maintenance and reconciliation. At Clarion, he oversaw implementation of SAP administrative and PeopleSoft student software. As part of a state-wide implementation, Clarion converted existing university processes to the newly implemented system, which involved flowcharting each function. Clarion University also instituted a Responsibility Center Management (RCM) system designed by Dr. Bylaska, with the co-operation of the University’s constituencies. The process decentralized business functions and made decision-making more transparent. In the successful accreditation of Clarion University in 2012, the Middle States Commission on Higher Education stated, “The Vice President for Finance and Administration, his staff, and the Associate Vice President for Computing Services are to be commended for providing the infrastructure and support for RCM.” Dr. Bylaska was also an integral member of the accreditation committee. At COB, Dr. Bylaska will serve as the in-house consultant in the Business Office and will assist with the organizational restructuring, implementation of standard procedures for all areas, staff training and development, as well as the implementation of a new Data Management System.
· The Chief Financial Officer reports on the financial status of the College at Council Meetings and distributes Quarterly Financial Statements to each Budget Executive.
·The College is currently in the process of updating all administrative technology and will be implementing the most globally-used university data management system, Elucian’s Banner System, in 2016. This will greatly increase accountability and take record-keeping and data management throughout the institution to higher levels.
· The College will continue to keep the public informed of actions being taken to improve all administrative systems across all areas, including academic administration, student development, capital and infrastructure development.
The College of The Bahamas is transitioning to the University of The Bahamas and will remain committed to the ongoing process of “continuous improvement.”
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