E.FINANCIAL PROCEDURES
DETAILED HEADINGS
E.1BUDGETING
E.1.1Resource Allocation
E.1.2Annual Estimates of Income and Expenditure
E.1.3Capital Programme
E.1.4The Planning Cycle
E.1.5Business Planning for Academic Cost Centres
E.1.6Monitoring of Staff Budgets
E.1.7Monitoring of Non-Pay Expenditure Budgets
E.1.8Unexpended Balances on Academic Cost Centre Reserves
E.1.9Self Financing Activity
E.1.10Business Planning for Professional Services
E.1.11Apportionment of Central Support Service Costs
E.1.12Utilisation of Contingency Funds
E.1.13Duties and Responsibilities of Heads of Cost Centres
E.1.14Duties of Budget Holders
E.2ACCOUNTING
E.2.1Accounting Policies
E.2.2Funding
E.2.3Recognition of Income
E.2.4Coding Structure
E.2.5New Financial Codes
E.2.6Access to Financial Information
E.2.7Balance Sheet Accounts
E.2.8Period End
E.3AUDIT
E.3.1Introduction
E.3.2Fraud Policy
E.3.3Internal Audit
E.3.4Value for Money (VFM)
E.3.5Retention of Documents
E.4INCOME
E.4.1Credit Checks
E.4.2Raising Invoices
E.4.3Enrolment
E.4.4Payment of Fees
E.4.5Non-Payment of Fees
E.4.6Refunds
E.4.7Basis for Calculating Refunds (where student have suspended study or withdrawn)
E.4.8Residential Services – Setting Fees
E.4.9General Income
E.4.10Research and Innovation Department
E.4.11Collection of Banking of Income over the counter
E.4.12Credit Control Statements
E.4.13Bad Debt Write Off
E.4.14Management Information
E.4.15Staff Credit Plan - Taliesin
E.5ARRANGEMENTS FOR BANKING, CASH AND CHEQUES
E.5.1Banking Arrangements
E.5.2Cheques and Cheque Signatories
E.5.3Petty Cash
E.5.4Use of Cash Tills
E.5.5Opening of Cheques for Cash
E.5.6Cash Receipts
E.5.7Treasury Management
E.5.8Borrowing
E.5.9Investments - Short Term
E.5.10Anti-Money Laundering Policy
E.6PURCHASING
E.6.1Introduction
E.6.2Purchasing Ethics
E.6.3Identifying the Need/Requirement
E.6.4Approved Supplier, Preferred Supplier or Framework Agreement
E.6.5Estimated total value of the requirement
E.6.6Tendering for Contracts Exceeding £50k
E.6.7Tendering for goods orservices where the total contract value exceeds EU thresholds
E.6.8Evaluating Tenders
E.6.9Negotiation, Bid clarification and Post Tender negotiation
E.6.10Selecting the successful supplier
E.6.11Placing an order
E.6.12Managing the contract
E.6.13Additional procedures for specific requirements
E.6.14Other considerations
E.7EXPENDITURE
E.7.1Control of Expenditure
E.7.2Authorised Signatories
E.7.3Ordering Goods and Services
E.7.4Certifying Receipt of Goods/Services orAuthorising Invoices for Payment
E.7.5Payments
E.7.6Legal Proceedings and other costs
E.7.7Capital Expenditure
E.8EXPENSES AND BENEFITS
E.8.1Introduction
E.8.2Policy
E.8.3Authorisation
E.8.4Insurance
E.8.5Definition of Business Travel
E.8.6Making Travel Arrangements
E.8.7Air Travel
E.8.8Rail Travel
E.8.9Road Travel
E.8.10Hotel Accommodation
E.8.11Subsistence
E.8.12Entertainment and Hospitality
E.8.13Other Benefits
E.8.14Visiting Fellows
E.8.15Research Volunteers, Lay Participants and Participants in Clinical Trials
E.8.16Advances
E.8.17Claiming Reimbursement of Expenses
E.8.18Corporate Credit Cards
E.9SALARIES, WAGES AND APPOINTMENT/RETIREMENT OF STAFF
E.9.1Appointment of Staff
E.9.2Contracts of Employment
E.9.3New Members of Staff
E.9.4Pensions
E.9.5Payment of Salaries
E.9.6Notification of Changes
E.9.7Payment for Work Carried out Beyond Normal Duties
E.9.8Casual Payments
E.9.9Payments for Casual/Occasional/Temporary Employment
E.9.10Copy Payslips, Duplicate P60s and Statement of Earnings
E.9.11External Examiners
E.9.12Voluntary Early Severance
E.9.13Termination of Appointments
E.10CONSULTANCY SERVICES AND OTHER OUTSIDE SERVICES
E.11COMPANIES AND COMMERCIAL ENTERPRISES
E.12RESEARCH GRANTS AND CONTRACTS AND OTHER SERVICES RENDERED
E.12.1Introduction
E.12.2Responsibilities
E.12.3Scope of Departmental Research and Innovation
E.12.4Minimum Requirements for an Externally Funded Contract (project) managed by DRI
E.12.5Definition of a Project for financial code and REF Purposes
E.12.6Risk Assessment
E.12.7Bid Submission and Head of College Declaration
E.12.8Authorised Signatories for Proposals and Contracts
E.12.9Cost Recovery on Grants and Contracts
E.12.10Costing of Research Projects
E.12.11Costing of Non-Research Activities (Other Services Rendered)
E.12.12Personal Consultancy Services
E.12.13Accepting an Offer of Grant and Authorising the Contract
E.12.14Financial Administration of Awards
E.12.15Accounting for Overheads
E.12.16Responsibilities of PI for Project Finances
E.12.17Non-Financial Records
E.12.18Closing of Accounts
E.12.19EU Funded Projects Management
E.12.20SU Publicity Policy for Projects Supported by EU Structural Funds
E.12.21Document Security and Retention for EU Structural Fund Supported Projects
E.12.22Assets Acquired through Research Contracts and Other Services Rendered
E.12.23Research and Other Contract Staff Employment Status
E.12.24Final Reports
E.12.25Policy for accumulated balances Exceeding £50,000 at Financial Year End
E.12.26Value Added Tax
E.12.27Budgetary Limits and Eligibility
E.12.28Research Governance and Ethics
E.12.29Responsibility to Submit Outputs to Research Outcomes System (ROS) and STFC/MRC ResearchFish System
E.12.30Research and External Contracts Web Site.
E.13INTELLECTUAL PROPERTY
E.14ASSETS
E.14.1Land, Buildings and Fixed Plant and Machinery
E.14.2Leases/Agreements for the Use of UniversityLand or Building
E.14.3Vehicles and Movable Plant
E.14.4University Art Collection
E.14.5University Silver Collection
E.14.6Egypt Centre
E.15ENDOWMENT FUNDS
E.15.1Definition
E.15.2Types of Endowments
E.15.3Classification of Donations
E.15.4Investment of Funds
E.15.5Setting-up of a Specific Fund
E.15.6Financial Coding Structure
E.15.7Investment Income
E.16SCHOLARSHIPS AND BURSARIES
E.16.1Introduction
E.16.2Remission of Fees for Members of Staff of SU and Associate Institutions
E.16.3Payments of Scholarships and Bursaries
E.16.4Payment Arrangements
E.16.5Recovery of Over-Payments
E.17MISCELLANEOUS
E.17.1Insurance
E.17.2Signing Official Documents
E.17.3Control, Custody and Security of Documents
E.17.4Security
E.17.5Legacies and Donations to the University
E.17.6Value Added Tax (VAT)
August 2014