- NYP tackles AGO findings on financial handling differences.
- New training portal launched in 2023 to prevent future issues.
- Increased CET places during pandemic led to billing challenges.
The recent NYP Statement addresses AGO’s concerns over financial practices within the polytechnic.
Nanyang Polytechnic’s Response to AGO Audit Findings
The Nanyang Polytechnic has recently been highlighted for delays in billing and poor debt recovery.
In 2021, the school had almost 53 per cent more training places, comparing numbers to those in 2019.
Delays in billing and recovering debt happened at the same time as COVID-19 pandemic problems.
As of 10 July 2024, 68.3% (amounting to $162,000) of the total outstanding course fee bills of $237,000 was cleared.
A new portal was set up to automate billing and better manage course fee recovery.
Here are some key highlights to note:
- The new portal aims to make course fee collections easier, improving efficiency.
- Efforts are in place to recover the remaining amount by Q4 of 2024.
Challenges and Proactive Measures
According to Nanyang Poly’s officials, NYP acknowledges AGO’s observations.
There were increased CET places due to the SGUnited Jobs and Skills push.
This rise in training places added pressures on NYP’s administrative systems.
Later, a July 2023 initiative saw the launch of a training portal.
This move was to ensure better financial governance at this Singapore institution.
Take a look at this quick table for a clear overview:
| Initial Debt | Debt Recovered |
|---|---|
| S$237,000 from 304 bills | S$162,000 |
| Billing Improvement | New Automation Portal |
| Financial Governance | Corrective Measures In Place |
Public Expectations and Media Response
The community will likely watch Nanyang Poly’s steps to fix and improve its systems.
There is a strong interest in ensuring financial oversight and compliance.
NYP is increasing its efforts to chase down outstanding course fee amounts.
Financial efficiency in Singapore institutions remains a key public concern.
In conclusion, NYP has started important steps to respond to AGO’s findings, aiming to improve the governance of financial systems and ensuring educational service excellence.
