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1 Apr 2015: The constitution of the board of managers or electors of a trust fund is usually laid down by Ordinance. Managers may be appointed by the Council, the General Board, Faculty Board or other bodies. A full list of managers for each trust tund is

31 Mar 2015: Equipment and Books Equipment costing less than £30,000 per individual item: Is written off (termed 'expensed') in the year of purchase. This means that it is not formally recognised as an asset in the University's financial statements.

4 Sep 2015: ZZZA – ZZZX. Other grants. ZZYA. University funded. ZZZZ. Latest version 01 May 2024.

5 Aug 2015: Before completing a new supplier request, ensure that the supplier is not already on the Supplier database by using the search function.

1 Apr 2015: University Payment System (UPS) Payments These are payments made to adjudicators, examiners, and lecturers etc who are not on the University Payroll. These payments are made online through UPS, and should be input by one person and authorised by an

6 Aug 2015: From 1 Jan 2021 Following the end of the Brexit Transition Period purchases from suppliers both in the EC and outside are treated in a similar manner. Please refer to the Import Export Hub for the current information. When buying goods from

18 Aug 2015: 13 . Financial Regulations 2012, 12.3. 14. Financial Regulations 2012, 12.3. Latest version 17 April 2024.

12 Aug 2015: The following tasks should be undertaken monthly to ensure that expenditure posted and subsequently claimed from the sponsor is correct. Review expenditure posted to your department suspense grants and re-post expenditures to clear the department

23 Jul 2015: Unlike most ‘for-profit’ organisations, funds allocated but unspent at the end of a financial year may in some cases (subject to rules) be carried forward in reserves for use in subsequent years. This allows institutions and Schools the

6 Aug 2015: As a rule of thumb for costing purposes calculating a rate of 5% is usually reasonably accurate.

31 Mar 2015: At the end of each financial year the Head of Department is required to sign a year-end certificate for their department; this includes certifying that the Fixed Asset Register holds the correct number and type of assets held in the department.

4 Sep 2015: Latest version 01 May 2024.

17 Aug 2015: Latest version 17 April 2024.

17 Aug 2015: For sales outside the UK, refer to the Import/Export Hub for the latest information. ... Latest version 16 April 2024.

4 Sep 2015: Latest version 01 May 2024.

2 Apr 2015: The Development and Alumni Relations office (CUDAR) is the University's designated office equipped to deal with donations, including donations destined for individual departments. For this reason, donations should always wherever possible be

12 Aug 2015: Departments must not transfer funds into a research grant or directly code income from a sponsor to a grant code. Collecting monies due from sponsors is undertaken by the Credit Control team in Research Accounting. However, there may be occasions

2 Apr 2015: Donation income For the purposes of these procedures, "donation income" can include any of: gifts benefactions bequests legacies grants made by charitable trusts grants made by Government departments and agencies This does not include HEFCE inco

23 Jul 2015: In general Chest budgets are set at the beginning of the financial year. It is the responsibility of the School Business Partners and institution heads of finance to organise the upload of institutional budgets, as detailed in the Blue Book, into UFS

4 Sep 2015: ICC overheads will normally be charged on any pay costs. Latest version 01 May 2024.

6 Aug 2015: Insurance is exempt from VAT though it is liable to another tax called Insurance Premium Tax (IPT). IPT should be treated as part of the overall cost of the insurance and not separately identified or treated as VAT, and the tax code entered as 'No

1 Apr 2015: Trust funds are classified as 'specific endowments' as the benefactor has specified that the funds are to be invested and the investment income is to be used for specific purposes. The funds may be required to be invested in perpetuity or for a

6 Aug 2015: Food (not catering) is usually zero-rated and should be entered on CUFS using the tax code 'No UK VAT', but there are a few exceptions on which you will be charged VAT at the standard rate - see section Sales/Income in the UK, Food for standard

23 Jul 2015: The table below details those activities and sources of funds for which budgets are not created in UFS, unless your Finance Business Partner/Institution Finance Manager tells you otherwise. These activities are monitored by comparing Actual

6 Aug 2015: Gift Aid is a procedure where the University can reclaim from HM Revenue & Customs the basic rate of income tax on a donation given to the University by an individual. Currently the University is able to increase the value of the donation by 25%.

12 Aug 2015: Initial source of support Your initial source of support should be your Finance Analyst - Research and Grants in the Research Operations Office. Each Department has a dedicated Finance Analyst - Research and Grants.

23 Jul 2015: Schools and other University Institutions are expected to produce strategic plans. These plans set medium- to long-term priorities and explain how they are to be implemented. The strategic plans are accompanied by detailed financial forecasts.

12 Aug 2015: Each research award will be activated within the UFS Grants module and given a unique award number, prefaced by RG or G. This will then be linked to a unique project number. It is helpful to quote the award RG/G number or project number in all

17 Aug 2015: Latest version 17 April 2024.

1 Apr 2015: Benefactions and gifts to establish new Trust Funds are always reported to Council and a Notice announcing acceptance by the University is published in the Reporter. The Notice would usually be accompanied by a grace, or grace and report, to set up

4 Sep 2015: Latest version 01 May 2024.

1 Apr 2015: An appropriation in aid is a transfer of income from a trust fund to a departmental account, and is therefore a saving to the University Chest. These appropriations come under the following main categories.

4 Sep 2015: P to W but not SCBA, SAAA, RAAA, SKF. Latest version 01 May 2024.

6 Aug 2015: If you hire a room then room hire is normally exempt from VAT and this should be entered on CUFS using the tax code 'No UK VAT'.

20 Mar 2015: Institutional responsibilities for budgetary planning and control The amount of input required from an institution for Chest budgetary planning and control can vary by institution and whether the budget is devolved fully.

7 Apr 2015: Ordering: iProcurement A department wishing to order goods or services should raise a purchase order on UFS to the supplying department. It is good practise to include a note on the purchase order of your department's AR internal customer number.

2 Apr 2015: Where possible, donors should be encouraged to make their donation by way of a single lump-sum in GBP sterling.

5 Aug 2015: Credit cards must be used exclusively for expenditure directly relating to University business. This may include travel and restricted entertaining.

31 Mar 2015: The fixed asset module does not have sub-ledger security. It is possible for people outside the department to see what assets your department holds. If you update the location field to identify the precise location of the asset then this is also

19 Mar 2015: When the University pays a sum of money for service(s), consideration must be given to whether the Off-Payroll Worker rules allow those payments to be made gross or whether there is deemed employment for tax purposes.

17 Aug 2015: Latest version 17 April 2024.

23 Jul 2015: There are four common reasons why actual expenditure or income will show a variance against the budget. 1. The cost is more (or less) than budgeted Budgets are prepared in advance and can only ever estimate income and expenditure. There are usually

17 Aug 2015: Latest version 17 April 2024.

1 Apr 2015: The University has limited powers to vary the application of a trust fund.

17 Aug 2015: Latest version 17 April 2024.

4 Sep 2015: Latest version 01 May 2024.

18 Aug 2015: Latest version 17 April 2024.

2 Apr 2015: Financial Regulation 14.2 Heads of Department must ensure that: donation accounts and trust funds are maintained in credit; funds are applied for the public benefit for charitable, educational or research purposes only; and any Ordinances or

6 Aug 2015: The main corporation tax relief applying to the University is an exemption available to charitable bodies on any profits arising on charitable activity.

4 Sep 2015: Latest version 01 May 2024.