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23 Jul 2015: All institutions are required to regularly monitor actual activity to planned activity and control their expenditure to ensure that it is in line with available funds. If required, appropriate corrective action should be taken to resolve significant

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.

20 Mar 2015: What is the Deposit Account The deposit account is a University wide facility that allows departments with surpluses (on a variety of eligible sources of funds) to invest those funds.

19 Mar 2015: Obtaining clearance from the Tax Team The engagement and payment for services where the engaging department does not propose to make payment through payroll must be cleared by the Tax Team.

7 Apr 2015: Defining a University internal customer Internal customers are those that are part of the legal entity of the University e.g. the Schools, faculties and departments.

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.

9 Apr 2015: The Supplier database enables staff to search for suppliers, request new ones or request amendments to suppliers on the database. Searches can be made for suppliers by name or by using key words or commodity descriptions to find suppliers who can

31 Mar 2015: Download this chapter in PDF format Overview The pages in this section give further information on the policies and procedures for Fixed Assets.

7 Apr 2015: Accounts Payable Module Module within UFS specifically for processing payments of all suppliers, both internally and externally, as well as payments to staff for expenses.

7 Apr 2015: These procedures only apply to departments using the CUFS Inventory module. It will be important for the departments with stores to ensure an accurate record of stock is maintained and that stock is allocated accurately within the department. Month

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

31 Mar 2015: What are Fixed Assets? University fixed assets are items of physical substance that are to be used in the supply/production of goods and services (e.g. education, research, trading). Examples of Fixed Assets: Scientific equipment Machinery Land and

4 Sep 2015: Within any fund, as defined by a combination of Cost Centre and Source of Funds, the Transaction element distinguishes between items of different kinds. Any account can have income and expenditure transactions. Many also have investments and other

6 Aug 2015: Download this chapter in PDF format Introduction Purpose The best practice procedures and guidelines set out in this chapter are intended to assist institutions in the management of trading income and to reduce outstanding debtors by identifying the

6 Aug 2015: The collection of income (and any subsequent debts) is the responsibility of the institution raising the sales invoice. The Financial Regulations state, “With the exception of research grant claims, institutions are responsible for debt collection

2 Apr 2015: 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 and expenditure against such funds.

7 Apr 2015: An overview of the purchasing cycle is given as follows: Requisition - Raising an internal purchase requisition Supplier Selection - Quotations, Contracts, Pre-Suppliers Purchase Order - Raise purchase order Receipt Goods/Services - Receive Goods

31 Mar 2015: Definition It is essential that effective internal controls exist throughout departments, faculties, institutions and the University to: safeguard University assets prevent and detect errors and fraud protect the interests of the staff help to

6 Feb 2015: In order to become a Chartered Global Management Accountant (ACMA, CGMA) you need a minimum of 36 months' verified work-based practical experience across four areas: Technical skills; Business skills; People skills and Leadership skills.

18 Aug 2015: Search site. Finance Division. Writing off bad debts. Debt should only be written-off if it is genuine and due, and it has been established it is not possible or economic

2 Apr 2015: Regardless of the method of donation the steps that the Department must follow are the same. Click the image to enlarge

31 Mar 2015: Compliance with the Financial Regulations is a mandatory requirement for: All institutions and University subsidiary companies but not Cambridge University Press or Cambridge Assessment. All University activities.

31 Mar 2015: Terms of sale If obliged to purchase from abroad on a supplier's terms of contract, it is important to determine what is included in the purchase price, and when risk and ownership pass to the purchaser.

31 Mar 2015: After the month end process departmental users will be able to access the new assets that have been uploaded in to the fixed asset module. They will also be able to: Update certain details, e.g. serial numbers. Change an asset's location. Change the

6 Aug 2015: By using CUTS, the University is able to avail of charitable tax reliefs to ensure that full economic benefit of profitable consultancy work flows through to the University.

20 Mar 2015: What is the CUEF? The Cambridge University Endowment Fund (CUEF) is a unitised fund consisting of a variety of assets including equities and investment property. Investors (departments) buy a number of units in the fund - the number purchased

6 Aug 2015: These year end instructions include: Payroll and University Payment System (PAY) Purchasing (PO) Accounts Receivable (AR) Accounts Payable (AP) Inventory (INV) Research Grants (GMS) Fixed Assets (FA) General Ledger (GL) Certification by Head of

12 Aug 2015: One of the purposes of the General Ledger (GL) is to reflect all of the University’s financial expenditure. Therefore, summary information from the Grants module is transferred on a daily basis into the GL.

31 Mar 2015: Topics covered in this section are: Departmental responsibilities The central process for fixed assets

19 Mar 2015: There are certain exceptions to the rules about “deemed employment” where people are being retained to undertake very short term academic tasks. These can be paid through the UPS using a UPS1 form as ‘automatic self-employed’ without the

11 Aug 2015: The Head of Department/Institution may delegate their responsibility to a suitably nominated individual within the department. This is done on a template letter provided by the Research Operations Office which lists the areas of delegation as well

4 Sep 2015: A reference guide for Source of Funds codes This section gives a fuller description of what each Source of Funds code represents, how it can be used and why. Use the menu on the left hand side to view the contents of this section. Latest version 01

2 Apr 2015: Topics covered in this section are: Specific Endowments Specific Donations Overheads charged to donation accounts Activities funded from more than one source

19 Mar 2015: Payments to students for grants and field trip expenses may be entered onto UFS without obtaining clearance from the Tax Team. Bursaries and studentships should ideally be paid through payroll using a UPS3 form though in practice they are unlikely

7 Apr 2015: Search site. Finance Division. Appendices. Search. Some items on this website are restricted. University members are encouraged to log in using Raven to make the best use of the site:. 2024 University of Cambridge.

2 Jun 2015: Bribery As defined in the University's Policy against Bribery and Corruption. Certifying Completion of Procurement Services' on-line dispensation form.

2 Apr 2015: Topics covered in this section are: Sources of funds for donations General Donations - source of funds EF** to EX** Specific Donations - source of funds H*** Specific Endowments

6 Aug 2015: The Accounts Receivable (AR) module of UFS is used for customer record creation and maintenance, raising sales invoices, credit memos and debit memos to external and internal customers. These memos are commonly referred to as a credit or debit notes,

7 Apr 2015: Departments will wish to monitor their fixed assets using the Fixed Assets module from time to time. In order to maintain the university's Fixed Asset Register, departments must ensure that when processing AP invoices for Fixed Asset purchases, they

2 Apr 2015: Donations are credited to a source of funds code in the ranges indicated in the below table and with an appropriate transaction code beginning LF**. The decision tree at Appendix A should be referred to for further guidance.

17 Aug 2015: Consider if it is reasonable to obtain payment in advance of any income generating activities to remove the need for offering credit. Should you decide to trade on credit terms you must assess the associated credit risks.

17 Aug 2015: No income generating activity should put the University’s charitable status at risk. Institutions must consider whether any new income-raising venture falls within the University’s core charitable activity.

31 Mar 2015: Payment Card Industry Data Security Standard (PCI DSS) is an auditable set of standards designed to ensure certain card data is stored securely by us and any third party which stores, transmits or processes such card data on our behalf.

4 Sep 2015: The J Sources of Funds are used to account for non-research grants received from the Office for Students and Research England and other bodies for specific purposes, together with the associated expenditure, whether revenue expenditure or

17 Aug 2015: Staff must not represent themselves as an agent of the University when undertaking personal consultancy work. University-headed document templates, the logo and the University’s Financial system (UFS) must not be used for charging customers for non

20 Mar 2015: Administrators should check that they know the answers to the following: Task Advice/Resources 1. Do I have to produce anything as part of the Planning Round? If so, what and by when? Finance Business Partner or Institution head of finance 2.

11 Aug 2015: All external funding bodies (known as ‘sponsors’) have their own terms and conditions covering how funds should be applied for and administered when received. You should review these before applying.

5 Aug 2015: If you are aware of a new supplier with outsourced accounts i.e. using a factoring company, it is essential that the Site Name is entered as Factor when setting up the supplier.

12 Aug 2015: Once the project has ended departments may wish to compare the actual costs incurred against the original application. This will identify any deficiencies in the costing or planning of the research and improve future applications for that sponsor.

4 Sep 2015: The E Sources of Funds are used where funding is provided to the University and no restrictions on expenditure have been placed on the funds. EBBA: Unpaid Leave of Absence For duration of leave a budget transfer is made from ABAA to fund the