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BMT620S - BUDGET AND ASSET MANAGEMENT - 1ST OPP - NOVEMBER 2023 |
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r
nAm I BIA un IVE RSITY
OF SCIEnCE
TECHnOLOGY
FACULTY OF COMMERCE, HUMAN SCIENCESAND EDUCATION
DEPARTMENT OF TECHNICAL AND VOCATIONAL EDUCATION AND TRAINING
QUALIFICATION: DIPLOMA IN VOCATIONAL EDUCATION AND TRAINING: MANAGEMENT
QUALIFICATION CODE: 06DTVM
COURSE CODE: BMT620S
SESSION: NOVEMBER 2023
LEVEL: 6
COURSE NAME: BUDGET AND ASSET
MANAGEMENT
PAPER: 1
DURATION: 3 HOURS
MARKS: 100
FIRST OPPORTUNITY EXAMINATION QUESTION PAPER
EXAMINER(S) Dr GodfreyTubaundule
MODERATOR: Mr Benhardt Kauteza
INSTRUCTIONS
1. Answer ALL the questions.
2. Read all the questions carefully before answering.
3. Number the answers clearly.
THIS QUESTION PAPER CONSISTS OF _3_ PAGES {Including this front page}
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Case Study: Managing Assets and Budgets in the TVET Sector
In the TVETsector, the relationship between assets and budgeting management is critical for delivering
quality education and training. The case study below of a hypothetical TVET institution, known as
Teach4Africa highlights the important connection between assets and budgeting management in the
context of the TVETsector in Namibia.
The Teach4Africa Institute is a reputable TVETinstitution that offers a range of vocational programmes. To
ensure its continued success,the institution must manage its assetsand budget effectively. The institution
owns state-of-the-art equipment and facilities necessary for hands-on training, and these assets are
essential for delivering high-quality education. However, maintaining and upgrading these assets can be
expensive and requires careful budgeting.
The relationship between assets and budgeting management at the Teach4Africa Institute can be seen in
several scenarios. For instance, the need to replace outdated machinery in the automotive workshop
presents a significant budgeting challenge. The Teach4Africa's budget must allocate funds for new
equipment, taking into account the impact on the overall financial plan. Similarly, the institution must
budget for regular maintenance to keep the assets in excellent condition to ensure the safety and learning
experience of the students.
The Teach4Africa Institute must balance investments in asset acquisition and maintenance with other
budgetary needs, such as staff salaries, programme development, and student support services. Effective
budgeting decisions are made by considering the institution's long-term goals, the expected lifespan of
assets, and the potential impact on programme quality.
Now, answer the questions below.
QUESTION 1: (15 marks)
1.1 Briefly explain THREEfactors that demonstrates that a relationship between assets and budgeting
management exits in the TVETcontext of your centre. Provide relevant examples to support your
answer.
(15)
QUESTION 2: (15 marks)
2.1 Teach4Africa Institute is planning to expand its programme offerings by adding a new engineering
department. Briefly explain THREE strategies how the centre should approach budgeting to
accommodate the costs of setting up the department while ensuring the effective management of
existing assets. Provide recommendations for balancing budget allocations in this scenario. (15)
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QUESTION 3: {30 marks)
3.1 Identify and provide a summary overview of any FOUR key principles and regulations outlined in the
Public Procurement Amendment Act No. 3 of 2022 that govern the acquisition of assets by public
institutions such as your TVETcentre. Provide TWO examples to support your answer.
(10)
3.2 Explain the TWO benefits and TWO challenges associated with the implementation of the Public
Procurement Amendment Act No. 3 of 2022 in the TVETcentres in Namibia. Support your answer
with real-world examples of how the Public Procurement Act has influenced asset procurement
practices in your TVETcentre.
{10)
3.3 Describe FOUR key asset management strategies that your institution can implement to optimise the
use of assets and support your centre's educational mission. Provide TWO real-world examples to
illustrate how you might successfully implement these strategies in your TVETcentre.
{10)
QUESTION 4: {20 marks)
4.1 Briefly highlight how classifying assets based on their characteristics, such astangible and intangible,
current and non-current, can help your TVET centre make informed decisions regarding
procurement, maintenance, and resource allocation.
(10)
4. 2 Discussany FOUR different types of assetsthat are commonly found in your TVETcentre and their
respective roles in supporting your institution's mission. Provide real-world examples to illustrate
the significance of each asset type within the context of the programmes and services offered in
your TVETcentre.
(10)
QUESTION 5: (20 marks)
5.1 Explain any FOUR key arrangements and procedures involved in the procurement and supply of
assetsto your TVETcentre. Provide specific examples of how these arrangements and procedures
have ensured the effective supply of assets to support programmes in your centre.
(10)
5.2 Briefly explain the FOUR stages of the budget negotiating process within an educational institution,
such as your TVETcentre. Describe the key stages involved, including budget planning, proposal
submission, negotiation meetings, and final approval. Provide specific examples to support your
answer.
{10)
TOTAL:100
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