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Trust Fund Expenditure | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-13-trust-funds/trust-fund-expenditure1 Apr 2015: Payment Procedures In general, payments from trust funds will be made by the departmental accounts team unless the trust fund is held centrally, in which case the payment requests should be sent to the Trust Funds Assistant in the Finance Division -
Monitoring and Controlling Budgets | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-2-budgetary-planning-control/monitoring-and23 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 -
Introduction | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-8b-internal-trading/introduction7 Apr 2015: Each internal customer has a two-letter 'department code' which in most instances coincides with the two letters at the beginning of their departmental cost centres. ... For example: Temporary Employment Services (TES) of Personnel Division has its own -
Invoicing and income | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-19-research-grants/invoicing-and-income12 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. -
Investment in the Deposit Account | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-12-investments/investment-deposit-account20 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. -
University procedure | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-5a-employment-status/university-procedure19 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. -
Section 3: Transaction code guidance | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-3-chart-accounts/section-3-transaction-code4 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. -
Processing suppliers' invoices | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-6-non-pay-expenditure/processing-suppliers5 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. -
Supplier Database | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-6-non-pay-expenditure/supplier-database9 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 -
Glossary | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-10-month-end-guidance/glossary7 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. -
Inventory | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-10-month-end-guidance/inventory7 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 -
Ongoing management of donation accounts | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-14-accounting-donations-and-grants/ongoing2 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 -
Introduction to Fixed Assets | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-16-fixed-assets/introduction-fixed-assets31 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 -
Chapter 8a - External trading and credit control | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-8a-external-trading-and-credit-control6 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 -
Debt Management | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-8a-external-trading-and-credit-control/debt6 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 -
Scope of donations | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-14-accounting-donations-and-grants/scope2 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. -
Purchasing | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-10-month-end-guidance/purchasing7 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 -
Internal control procedures and conflict of interest | Finance…
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-20-governance-compliance/internal-control31 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 -
Practical Experience Requirements | Finance Division
https://www.finance.admin.cam.ac.uk/training-and-development/professional-qualification/cima/practical-experience-requirements6 Feb 2015: Strategy. Influence. Team building. Cost accounting and management. Market and regulatory envirnoment. -
Import procedures | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-4-procurement-procedures/import-procedures31 Mar 2015: CIF. (Cost, Insurance, Freight) - seller pays these costs for the goods in transit to the agreed destination. ... DDP. (Delivered duty paid) - all costs borne by the supplier, to the agreed buyer destination. -
Procedures for receiving donations via the Development and Alumni…
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-14-accounting-donations-and-grants/procedures2 Apr 2015: Regardless of the method of donation the steps that the Department must follow are the same. Click the image to enlarge -
Financial Regulations | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-20-governance-compliance/financial-regulations31 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. -
Updating the Fixed Assets module | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-16-fixed-assets/updating-fixed-assets-module31 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 -
Writing off bad debts | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-8a-external-trading-and-credit-control/debt-418 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 ... If the invoice being written off was subject to VAT, Credit Control will inform -
Investment in the Cambridge University Endowment Fund (CUEF) |…
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-12-investments/investment-cambridge-university20 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 -
Reflection of Grants in the General Ledger | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-19-research-grants/reflection-grants-general12 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. -
Detailed instructions and module specific dates | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-11-year-end-instructions/detailed-instructions6 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 -
E Sources of Funds: General reserves | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-3-chart-accounts/section-2-source-funds-24 Sep 2015: Thus, overheads include the costs of:. staff providing support to the research project (pooled labour). ... ICC overheads will normally be charged on any pay costs (except for pooled labour funds). -
Section 2: Source of Funds guidance | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-3-chart-accounts/section-2-source-funds-guidance4 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 -
Recommended monthly procedures | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-16-fixed-assets/recommended-monthly-procedures31 Mar 2015: Topics covered in this section are: Departmental responsibilities The central process for fixed assets -
Short-term academic tasks | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-5a-employment-status/university-procedure/short19 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 -
Delegated Authority | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-19-research-grants/application-process/delegated11 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 -
Spending against donation accounts | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-14-accounting-donations-and-grants/spending2 Apr 2015: Topics covered in this section are: Specific Endowments Specific Donations Overheads charged to donation accounts Activities funded from more than one source -
Exceptions -Payments to students | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-5a-employment-status/university-procedure-019 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 -
Schedule 2 - Definition, Advice and Guidance | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-regulations/schedules/schedule-2-definition-advice-and-guidance2 Jun 2015: Bribery As defined in the University's Policy against Bribery and Corruption. Certifying Completion of Procurement Services' on-line dispensation form. -
CUTS (Cambridge University Technical Services) | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-9-vat-and-other-taxes/brief-guide-corporation-06 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. -
Types of donation for accounting purposes | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-14-accounting-donations-and-grants/types-donation2 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 -
Appendices | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-14-accounting-donations-and-grants/appendices7 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. -
Making Sales | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-8a-external-trading-and-credit-control/making6 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, -
Fixed Assets | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-10-month-end-guidance/fixed-assets7 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 -
Source of funds for donations | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-14-accounting-donations-and-grants/types-02 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. -
Administrators' checklist | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-2-budgetary-planning-control/introduction-120 Mar 2015: If not, how will the shortfall be funded? This may need to be done on a cost centre by cost centre basis as otherwise trading activities in surplus could be subsidising ... If not, how will the shortfall be funded? General: Are there sufficient resources -
Credit worthiness of external customers | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-8a-external-trading-and-credit-control/pre-617 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. -
J Sources of Funds: Specific grants | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-3-chart-accounts/section-2-source-funds-74 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 -
Project Evaluation | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-19-research-grants/invoicing-and-income/project12 Aug 2015: Search site. Finance Division. Project Evaluation. Once the project has ended departments may wish to compare the actual costs incurred against the original application. -
Payment Card Industry Data Security Standard | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-20-governance-compliance/relevant-legislation-231 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. -
Excess income and excess expenditure | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-19-research-grants/invoicing-and-income/excess12 Aug 2015: overspend) to the departmental research cost centre, with the ED source of funds, and a transaction code LZEG for excess income or AZZN/EZZN for excess expenditure. -
Charitable Status | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-8a-external-trading-and-credit-control-0-017 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. -
Format | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-3-chart-accounts/section-3-transaction-code-04 Sep 2015: E and F. Expenditure. Non-pay costs including depreciation (FB). H and J. -
Non-University commercial activity | Finance Division
https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-8a-external-trading-and-credit-control-0/non17 Aug 2015: the activity has been authorised by written permission of the Head of Institution and a commercial agreement is put in place for the reimbursement of costs incurred.
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