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20 Mar 2015: Download this chapter in PDF format As the new finance system is brought in through the Financial Transformation Programme, this chapter of the Financial Procedures Manual will see significant changes. However, this is the current guidance for

29 Jul 2015: Post-Award a grant will be set up in UFS where an application is successful and the sponsor has notified the Research Operations Office.

1 Apr 2015: The Financial Regulations specify that it is the Head of Department's responsibility to ensure that all trust funds are maintained in credit. See also the guidance for Trust Fund Managers

12 Aug 2015: Departments are responsible for ensuring that all expenditure charged to a grant complies with sponsors’ terms and conditions.

20 Mar 2015: This section explains how budgets are used within the University. It details those activities for which budgets are formally created and monitored in the University Finance System (UFS). It also provides guidance on the main issues that should be

2 Apr 2015: Download this chapter in PDF format Overview The principal purpose of this chapter of the Financial Procedures Manual is to set out and explain the procedures to be followed by staff in Departments in respect of income received by means of donation

4 Sep 2015: Latest version 01 May 2024.

6 Aug 2015: When goods are bought into the UK a tax called 'duty' is normally charged on the value of the goods (normally the purchase price). The duty applicable is calculated as a percentage of the value of the goods, but the percentage varies depending on

5 Aug 2015: International Payment Orders (IPO) are the normal method used by the University to transfer funds to individuals and organizations with non-UK bank accounts. They can also be used as a method for paying foreign currency to a UK account.

31 Mar 2015: Overview The usual means of incurring and managing the expenditure on land and buildings is through Estate Management (EM) because of the complexities of building projects.

29 Jul 2015: Pre-Award Services The Research Operations Office (ROO) are responsible for assisting departmental administrative and academic staff to understand the processes and requirements associated with research grants and contracts.

11 Aug 2015: Each application for funding must be authorised by the Head of Department/ Institution or their nominated deputy (see delegated authority process) prior to the application being sent to their School Team within the Research Operations Office to

12 Aug 2015: Invoicing of sponsors and collection of funds due is the responsibility of the Research Operations Office in conjunction with the Credit Control Team within the Finance Division.

2 Apr 2015: Topics covered in this section are: Balances to be maintained in credit Investing balances Surpluses on specific donations/endowments Year-end Reporting to donors Transferring donations

5 Aug 2015: It is best practice for departments to reconcile suppliers’ statements each month to ensure that they have recorded all invoices and credit notes taken. This process should be done regularly to ensure that operating results provide a true

5 Aug 2015: Purpose of credit cards The University issues company credit cards to its employees where it is deemed the only effective method of payment in the proper performance of duties. Heads of Institution are responsible for ensuring that the cards are

20 Mar 2015: A budget is a financial representation of planned activity for a given period. The basic principle is to compare the cost of the planned activity to the expected income the activity will generate and establish whether there will be a surplus (income

1 Apr 2015: When trust funds are established there are a number of considerations that should be taken into discussion with potential benefactors, including: The value of the capital This should be sufficient for the purpose for which it is to be used.

5 Aug 2015: Detailed reference materials on how to process suppliers’ invoices in the Accounts Payable (AP) module of UFS is available on the Finance Training webpage. Some other common scenarios are given below.

7 Apr 2015: Download this chapter in PDF format Overview Internal Trading is the process by which goods and services are bought and sold between Cambridge University departments using UFS Accounts Receivable (AR) and Accounts Payable (AP) modules.