Financial Services Division

Acronym and Terms List

Acronym /Term / Full Name / Comment
ABN / Australian Business Number
ABS / Australian Bureau of Statistics
ACNC / Australian Charities and Not-for-Profits Commission
AFS / Annual Financial Statements
AP / Accounts Payable
APA / Australian Post Graduate Awards / PhD and Masters Scholarships awarded to individual students
AR / Accounts Receivable
ARC / Australian Research Council / An Australian Government central research funding agency.
ASIC / Australian Securities and Investments Commission
AusAID / Australian Agency for International Development / A Commonwealth Government agency that funds certain international students’ tuition and stipends.
BlackRock / BlackRock / One of the University’s Australian equity fund managers.
B & P / Buildings and Property Division / A division of the University.
BAS / Business Activity Statement
CA / Chartered Accountant
CF / Carry Forward
CGS / Commonwealth Grant Scheme / The Commonwealth Government contribution for University study. This, together with HECS, provides funding for Commonwealth Supported students.
CIP / Capital Infrastructure Plan / The University’s rolling 10 year plan for expenditure on Buildings & Infrastructure and IDS.
COA / Chart of Accounts
CPA / Certified Practising Accountant
CRH / Centre for Remote Health
CSL / Commonwealth Supported Load / Student load which receives a Commonwealth Government funding contribution
DGR / Deductible Gift Recipient
EFT / Electronic Funds Transfer
EFTSL / Equivalent Full Time Student Load
ER / Employer Sponsored / Students whose fees are paid via agreements with their employer
FBT / Fringe Benefits Tax
FD / Flexible Delivery / Teaching not done in the classroom etc, eg on-line
FPPG / Full Fee Paying Post Graduate / Fees paid for domestic students only
FIC / Finance & Investment Committee / A committee of the Flinders University
FL / Flinders Living / On campus accommodation
F&PS / Finance & Procurement Services Division / A division of the University.
FTE / Full Time Equivalent
FUST / Finance User Support Team / A team working within Finance & Procurement Services
GL / General Ledger
GST / Goods and Services Tax
HECS / Higher Education Contribution Scheme / The student contribution to University study. Can be paid upfront or deferred, in which case it is recovered through the taxation system once a person’s income has reached the prescribed threshold.
HELP / Higher Education Loan Program / The student contribution to University study which can be deferred, in which case it is recovered through the taxation system once a person’s income has reached the prescribed threshold.
HEPP / Higher Education Participation Program / Consolidates HEPPP and HEPP into one. A new Access Participation Fund and the existing National Priorities Pool as outlined below.
HEPPP / Higher Education Participation and Partnerships Program / A Commonwealth Government funding scheme to improve access for lower socio-economic students to undergraduate study, as well as improving retention and completion rates for those students.
HOCs / Head of College Services
Acronym /Term / Full Name / Comment
HWA / Health Workforce Australia / A Commonwealth Government funded body that provides funding to universities, especially to support clinical placements.
IDS / Information and Digital Services / A division of the University.
IL / Infrastructure Levy / Levy applied to JRE, SRE and RIBG to support infrastructure
IPRS / International Post Graduate Research Scholarship / PhD and Masters scholarships awarded to international students.
ISP / International Student Program / Fees paid for international student tuition
ITEC / Income Tax Exempt Charity
LSL / Long Service Leave
NHMRC / National Health and Medical Research Council / An Australian Government central research funding agency.
NILS / National Institute of Labour Studies / A part of the University, supported by the NILS Foundation Inc.
NTMP / Northern Territory Medical Program / The University’s medical teaching program in the NT.
PO / Purchase Order
PPE / Property, Plant & Equipment / An asset category on the statement of financial position.
RSP / Research Support Program / Grant for the purpose of supporting the systemic costs of research not supported directly through competitive and other grants, such as libraries, laboratories, consumables, computing centres and the salaries of support and technical staff.
RTP / Research Training Program / Grants for the purpose of supporting the training of higher degree research (HDR) students.
SAHMRI / South Australian Health and Medical Research Institute / A South Australian Company limited by guarantee with the South Australian government and three South Australian universities as members. Its purpose is to be a flagship research institute for South Australia.
Schroder / Schroder / One of the University’s Australian equity fund managers.
SET / Senior Executive Team
SSAF / Student Services and Amenities Fee / A compulsory fee paid by students that can only be spent on prescribed services and amenities for students.
StarRez / StarRez / Accommodation booking system used by Flinders Living
VP (CS) / Vice-President (Corporate Services)
TCC / Tax Concession Charity
Tied / Grant and other funding received by the University that can only be spent for the purpose granted.
Underlying
(Untied) / Core University funding over which the University has general expenditure discretion
USF / University Strategic Fund / Funds set aside in the Budget each year to be used for strategic purposes determined by the Vice-Chancellor.
VAT / Value Added Tax / Usually only applies to the UK or other European countries.
VC / Vice-Chancellor / CEO of the University
VPED / Vice-President & Executive Dean / College Head
WC / Workers Compensation / The liability for the expected costs of workers compensation.
WHS / Work Health & Safety / (new OHS)
WOL / Whole of Life reporting / A new report

Updated 20/9/17

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