University Switch To Decimal

Press, Volume CVII, Issue 31412, 4 July 1967, Page 16

University Switch To Decimal

The University of Canterbury, which has a a year budget, switched to decimal currency book-keeping last week-end because trial balances and bank account reconciliations are made at the end of each month.

The change went smoothly, officers said, because staff had been planning and making some dual entries for a year and also because (unlike commercial houses) the university makes thousands of payments, but gets its receipts mostly in a few very large sums. Indeed 78 per cent of income comes from Government grants, 20 per cent from tuition fees (about three-quar-ers of this also comes from the Government in bursaries and the rest from students’ own pockets), and the remainder from endowment and other miscellaneous income. But the university’s outgoings are numerous. About £1,120,000 is paid annually in salaries of teaching, administrative, library, and technical staff. Wages for maintenance, grounds, cleaning, heating, and hostels amount to £120,000 a year.

Working equipment for departments cost £145,000 a year.

Other major charges are: expenses of appointment, £37,000; library books, £48,000; heating and lighting, £30,000; refresher leave, £19,000; telephones, £15,000.

Bursary payments this term, the biggest ever, will amount to £125,000 for about 2500 students. Fees records are kept for more than 5000 students.

In its change, the university had to alter all salaries and wages cards, all ledgers and account balances, and all other supplementary schedules.

It had one big advantage. All its accounting is done by machine and 668 of salaried staff are paid by computer. However, this entailed new payroll programmes for the

computer and new programmes for tax and other deductions which are stored on discs.

In a full year the university pays about 2500 persons salaries, wages, and casual fees weekly, fortnightly, monthly, by the term, or periodically. In a typical month 1321 cheques amounting to £287,000 will be drawn for all purposes. Apart from the obvious expenses for teaching, research, and equipment, the university buys almost every commodity you can think of. “You name it, we use it,” is no boast. The change to decimals has been achieved with the purchase of only one accounting machine using dollars and cents. Two more will be converted later.