Monitoring and Scoring Performance

1
Monitoring and Scoring Performance

• All targets, linked to strategies, monitored from
  one place
• Input from all SMT members
• Easy reporting for SMT, Committees, Corporation
  and other reviews

2
Strategy and Performance
3
An Example ...

• Key Performance Area
• Financial Health
• Ensuring that the College achieves and sustains
  financial stability and independance

4
Strategic Objectives

• At least break even annually
• Maintain cash solvency
• Meet bank covenants
• Remove the need for exceptional support
• Achieve FFE Financial Health grade Good

5
Performance Measures

• Operating Result - Key
• Funding Income
• Non-funding Income
• Pay Cost
• Other operating expenses
• Cash Position - Key
• Historical cost surplus - Key
• Debt servicing of income
• IE Reserve of income
• Forecast cash position
• Solvency (current ratio) - Key
• Sustainability (debt of reserves)

6
Targets

• For example
• Operating Result
• Operating result for the financial year is at
  least 1.
• Monthly profile where appropriate (for in-year
  reporting)

7
Reporting of KPAs
8
Next Steps

• July August
• Agree KPIs with SMT
• Implement new tools for measuring and recording
  against targets
• Agree 2009/10 targets
• September First report of targets to
  Corporation
• October First performance report to Corporation