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The case looks at issues pertaining to the financial management of the endowment fund of Shaukat Khanum Memorial Cancer Hospital and Research Centre (SKMCH&RC. The Chairman of SKMCH&RC, Mr. Imran Khan, is also the head of the political party Pakistan Tehreek-e-Insaaf (PTI), which is the key contender in the general elections of May 2013. One of the central figures of the rival political party PML-N, Mr. Khawaja Asif had accused Imran Khan of “gambling” with donated funds, leading to significant financial losses of money which should have been used for the treatment and care of the poor cancer patients of the hospital. The case is intended to be used for Executive Teaching and should be assigned and read together with the Technical Note 'Understanding Endowment Funds- LUMS No: 02-607-2014-2). The technical note lists the main types of endowment funds and, by considering the endowment funds of Harvard University and Yale University (considered to be two well managed funds), discusses matters relating to their financial management and accounting and reporting requirements. After reading this note, participants will have acquired some technical understanding of how to address the key questions in the case. |
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