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Disposal of equipment | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-16-fixed-assets/equipment/disposal-equipment31 Mar 2015: Assets owned by the University, irrespective of funding source, remain the property the University until sold or destroyed -unless contracts with external sponsors specify otherwise. Responsibility Heads of Departments are responsible for the -
X5 costing tool | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-19-research-grants/research-funding-0/x5-costing11 Aug 2015: X5 is the software used to prepare proposal costings in line with fEC requirements. All new proposals must be costed using X5; awards or contracts which include a financial value will not be accepted unless an X5 costing is completed. There are -
Receipt of donations | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-14-accounting-donations-and-grants/principles-32 Apr 2015: Where possible, donors should be encouraged to make their donation by way of a single lump-sum in GBP sterling. -
I Sources of Funds: Specific endowments | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-3-chart-accounts/section-2-source-funds-64 Sep 2015: These are for donations where the donor has specified that the gift is to be invested for the longer term, but where no trust fund has been established. In most cases the donor has also placed restrictions on the use of the income arising. -
M Sources of Funds: Research grants and contracts | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-3-chart-accounts/section-2-source-funds-104 Sep 2015: Detailed information for research grants is held in the Grants (GMS) module in UFS. Summary information is passed into the General Ledger via a nightly interface. Transactions are summarised by department and by sponsor type. -
Non-pay costs (E) | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-3-chart-accounts/section-3-transaction-code/non4 Sep 2015: The codes most used in departmental transaction processing are those beginning E (for non-pay expenditure). The second character clarifies the particular type of expenditure, and the last two characters give the detail. -
Purchasing goods and services from the EC | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-4-procurement-procedures/import-procedures-231 Mar 2015: Goods from the EC If goods are purchased from another EC member state and are brought into the UK then the supplier should not be charged VAT provided that the supplier is advised of the University's VAT number (823 8476 09). -
Application process | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-6-non-pay-expenditure/credit-card-procedures-05 Aug 2015: University credit cards are only available to employees whose contract of employment is issued by the University. Institution Heads are responsible for ensuring that the issue of a card is appropriate. To request a new credit card: • The applicant -
Placing money on deposit | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-12-investments/investment-deposit-account/placing20 Mar 2015: This is done by means of a journal in the GL. In a new batch start a journal in the normal way. Key fields are: Period: For deposits the period will be the current period. -
How to budget for Trust Funds | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-2-budgetary-planning-control/monitoring/how23 Jul 2015: All trust funds are legally created and have their own deed that details the rules and regulations for the specific fund. -
Unit purchase and sales | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-12-investments/investment-cambridge-university-020 Mar 2015: Unit holders register their intent to buy or sell prior to the quarter date and are advised of the unit valuation once calculated. -
Distribution from the Fund | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-12-investments/investment-cambridge-university-120 Mar 2015: The CUEF distribution is credited to investors quarterly at the agreed rate for the University's Financial Year. The agreed rates for the CUEF distribution are available on the Finance Division web page, CUEF distribution (yearly). -
Monitoring and maintenance of equipment | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-16-fixed-assets/equipment/monitoring-and31 Mar 2015: Security of equipment Heads of Departments should establish procedures to ensure that all items of equipment are adequately protected against loss and misuse. Maintenance or improvements to equipment When spending money on an existing asset it -
Controls | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-19-research-grants/ufs-grants-module/controls12 Aug 2015: At the activation stage various controls are set on a grant to ensure that expenditure is charged in accordance with the sponsor’s terms and conditions. Budgetary control Budgetary control allows limits to be placed on the total expenditure on the -
Quotations | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-8a-external-trading-and-credit-control/pre-517 Aug 2015: Where a prospective customer has requested a quotation (or it is considered appropriate to issue one), use the template from the Finance Division web page. The issue of a quote and its subsequent acceptance by the customer guarantees the application -
Monitoring and further guidance | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-8b-internal-trading/monitoring-and-further7 Apr 2015: Reports on UFS It is the responsibility of Heads of Departments and Department Administrators to monitor outstanding / unpaid Internal Trading invoices. As part of month-end procedures for the Accounts Payable module, users are advised to : Run the -
Appendix - Customer numbers | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-8b-internal-trading/appendix-customer-numbers7 Apr 2015: Appendix A : Customer numbers for internal departments A list of customer numbers for internal departments can be found under "Department Contacts" Invoicing sub-departments To invoice departments that are sub-ledgers of another department, an a -
Processing goods and services charged without VAT in the UK | Finance …
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-9-vat-and-other-taxes/processing-goods-and6 Aug 2015: The tax code for entering all purchases charged without VAT (within the UK) on CUFS is 'No UK VAT'. This is irrespective of whether the supply is zero-rated, exempt or outside the scope. -
Pre-sales procedures | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-8a-external-trading-and-credit-control/pre-sales6 Aug 2015: Introduction and overview Heads of Institutions that receive income from the sale of goods or services, including Research, must establish procedures to ensure that all sales are authorised and supplied as agreed. -
Purchasing goods from the EC | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-9-vat-and-other-taxes/purchasing-goods-ec6 Aug 2015: From 1 Jan 2021 Following the end of the Brexit Transition Period purchases from suppliers in the EC are treated in a similar manner to those from the rest of the world. -
Copy supplier invoices | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-6-non-pay-expenditure/payments/copy-supplier23 Nov 2015: Amounts above GBP £10K require additional verification. To ensure payments are processed efficiently and accurately, a copy of the invoice must be sent to the Accounts Payable Payments Administrator as soon as it has been processed. -
Contracts | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-8a-external-trading-and-credit-control/pre-217 Aug 2015: On this page: Ensuring the University's STC apply Currency Warranties Insurance A contract is created where:6 The buyer accepts without amendment a valid quotation that we have issued An order from the buyer is accepted in writing (including emails) -
Purchasing goods from outside the EC | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-9-vat-and-other-taxes/purchasing-goods-outside-ec6 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 -
K Sources of Funds: Trust Funds | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-3-chart-accounts/section-2-source-funds-84 Sep 2015: Many departments receive income from trust funds. Each trust has its own deed that details the rules and regulations concerning its set up and use. Details of each trust are recorded in the University’s statutes and ordinances. -
The Award budget | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-19-research-grants/ufs-grants-module/award-budget12 Aug 2015: The budget is divided into project(s), task and then into expenditure categories. -
Purchasing services from outside the UK | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-9-vat-and-other-taxes/purchasing-services-outside6 Aug 2015: From 1 Jan 2021 Following the end of the Brexit Transition Period purchases from suppliers in the EC are treated in a similar manner to those from the rest of the world. Please see the Import Export Hub for current information. -
Retention of financial documents | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-20-compliance-issues-and-procedures/retention31 Mar 2015: Recommended Guidelines What is a document? Documents do not have to be in physical paper form, although there will inevitably be paper documents. A document can also be an electronic document. -
The role of Finance Business Partners and Institution Heads of…
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-2-budgetary-planning-control/introduction/role20 Mar 2015: The role of Finance Business Partners and Institution Heads of Finance in budgetary planning and control The University operates an annual Planning Round, one aspect of which is to collate financial forecasts from institutions (usually around -
Searching the database | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-6-non-pay-expenditure/supplier-database/searching5 Aug 2015: The search facility enables staff to find current suppliers. -
Foreign currency exchange rates | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-6-non-pay-expenditure/foreign-currency/foreign5 Aug 2015: For all enabled currencies within UFS (excluding US Dollar & Euro/Euro defined), the Treasury team will load a monthly Corporate exchange rate onto UFS. For US Dollar and Euro, the Treasury team will load a daily Corporate exchange rate onto UFS. -
Accounts Payable (AP) | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-11-year-end-instructions/detailed-instructions-110 Aug 2015: ON THIS PAGE Summary of tasks Key dates Accounting for AP invoices Enter and approve purchase (AP) invoices Review of outstanding invoices Review Internal AP invoices Concur: Barclaycard and out of pocket claims Visitors and students expense -
Reconciliation between the GL and the Grants modules | Finance…
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-19-research-grants/reflection-grants-general-212 Aug 2015: Checking that all expenditure posted in the Grants module correctly posted to the GL is undertaken by Research Accounting.. Departments should not post any expenditure to ‘M’ source of funds codes. -
Appendices: Year-end instructions 2023 | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-11-year-end-instructions/appendices-year-end10 Aug 2015: Further information on year end procedures is detailed below: -
High Street suppliers | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-6-non-pay-expenditure/supplier-database/high5 Aug 2015: High Street suppliers should not be used. In general they do not provide the same credit facilities or preferential rates as larger companies offer. Warranties may not be valid in some instances where domestic goods are purchased that may be used in -
Access responsibilities in UFS | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-19-research-grants/ufs-grants-module/access11 Aug 2015: Departmental Key Contacts can request access for departmental members of staff to view research grant data in the UFS Grants module. -
Buying goods/services from other Departments | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-8b-internal-trading/buying-goodsservices-other7 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. -
Exchange rates | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-19-research-grants/invoicing-and-income/exchange12 Aug 2015: Awards payable in US Dollars, Euros or other foreign currencies will be budgeted in sterling. The foreign currency policy is detailed under Foreign currency grants Awards denominated in Euros or US dollars are budgeted using a lifetime rate. -
Commitments | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-19-research-grants/ufs-grants-module/commitments12 Aug 2015: UFS is a commitment accounting system. This means that details of any orders placed in the UFS iProcurement Module are transferred to the UFS Grants module and funds are then reserved for the purchase. These are shown as commitments on several -
Research Grant cost centres | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-19-research-grants/reflection-grants-general-012 Aug 2015: Each department has one or more GL cost centres into which expenditure from the Grants module is mapped. The standard cost centre for this is **AG, the first two letters being the department code. This may vary in departments where more than one -
Institutional responsibilities for budgetary planning and control |…
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-2-budgetary-planning-control/introduction-020 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. -
Staff costs | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-19-research-grants/managing-your-grant/staff12 Aug 2015: Staff costs are imported into the Grants module monthly. Where Staff costs have been incorrectly coded they can be transferred using the Tools/Transfer function in the Expenditure enquiry screen. Costs which fail validation will go to departmental -
Posting petty cash | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-19-research-grants/managing-your-grant/posting12 Aug 2015: Disbursements from petty cash can be charged to a research grant. There is a limit of £25 per item and all petty cash expenditure should be supported by a receipt. -
Other ways to monitor expenditure against a specific UFS budget |…
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-2-budgetary-planning-control/monitoring-and/other23 Jul 2015: As well as the GL Financial Summary Report, there are other Cognos reports that deal with actual and budgeting variances. Refer to the Finance Division Training webpages Guidance and FAQs, Cognos reports, for a list of reports and detailed assistance -
Department segment | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-3-chart-accounts/section-1-overview/department4 Sep 2015: This is used to define the department or institution processing the transaction, e.g. AG for the Finance Division. The first letter can help to indicate the group to which the department belongs. -
Amendments to a grant | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-19-research-grants/ufs-grants-module/amendments12 Aug 2015: Your School Team in the Research Operations Office must be notified of all amendments to a grant, e.g. extensions (cost and no cost), supplementary funding and virement of funds between expenditure categories. -
Use of exchange rates | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-6-non-pay-expenditure/foreign-currency/use5 Aug 2015: Department users are only able to use the Corporate exchange rates (i.e. are unable to enter User exchange rates). CUFS will usually default to this as the Rate Type. If prompted to complete this field when entering a foreign currency transaction, -
Module close dates | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-11-year-end-instructions/module-close-dates6 Aug 2015: All modules will be closed at 5 pm on the following dates. -
Year-end checklist 31 July 2024 | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-11-year-end-instructions-31-july-2024/year-end6 Aug 2015: Click on the image to download the checklist Excel: PDF: -
Successful applications | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-19-research-grants/ufs-grants-module/successful29 Jul 2015: Where applications are successful the sponsor will send an ‘Award Letter’ notifying the Research Operations Office and the applying Principal Investigator (PI). If the department of the PI receive a copy directly from the sponsor they should -
Research grants reports/queries | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-2-budgetary-planning-control/monitoring-and-523 Jul 2015: Cognos reports for monitoring grant expenditure at institutional level are available, including a summary report which provides an overview of grants expenditure and remaining budget on active awards. Furthermore, once-off, bespoke Cognos reports
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