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1 Apr 2015: Many departments have surpluses that are held on deposit with the University Deposit Account. Departments are responsible for monitoring account and deposit balances and can process deposit movements themselves through a General Ledger journal.

18 Aug 2015: Search site. Finance Division. Legal action. Any decision to take legal action should only be made as a last resort having fully considered the appropriateness, reputational and cost implications to your ... If proceeding with court action, there is a

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

2 Apr 2015: A specific endowment is a donation where the donor has specified that the funds are to be invested and the investment income is to be used for specific purposes, which may be as wide as a department or academic area. The funds may be required to be

31 Mar 2015: Monthly 'Mass Additions' process The main central process revolves around creating 'mass additions' - this sweeps all invoice data re ticked 'track as asset' items into a holding area called mass additions within the fixed asset module.

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.

20 Mar 2015: The prime reason why the University sets budgets is to ensure that it is operating sustainably.

2 Apr 2015: The CUDAR will notify the department for which the donation is intended (via email), passing on the following information: name of the donor amount of donation (including gift aid where appropriate) purpose of the donation CUDAR will ask the

31 Mar 2015: Both the University’s internal and external auditors have access to all records, assets, personnel and premises and the right to obtain such explanations as they consider necessary.

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

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

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

4 Sep 2015: Principally EZXX for transfer of expenditure and LXBB for transfer of income. Transfer codes Use with caution Refer to Best Practice Guide 3 or your Finance Adviser Latest version 01 May 2024

2 Apr 2015: Both reports are available to departments from the Cognos reporting tool. It shows the same information but further broken down by cost centres.

31 Mar 2015: EM incurs the original building costs. EM then invoices the department for the funds. ... Source of funds:. All costs are coded against one source of funds PBAA.

5 Aug 2015: Some departments operate a single card for online and overseas purchases.

4 Sep 2015: These are only allocated with permission from the Finance Division. They are specific reserves that arise from budget allocations for specific large projects, e.g. CAMSIS. They are sometimes referred to as sinking funds.

5 Aug 2015: The Accounts Payable Team, Finance Division arranges payment. Statements are sent directly to the cardholders’ home address, as provided on the application form, from the credit card service provider.

1 Apr 2015: Trust funds set up from May 2007 onwards, are charged 30% overheads on staff costs.

12 Aug 2015: Run a GL Accounts Analysis Report on the departmental research cost centre, the ED source of funds, and transaction code LZEG for excess income or AZZN/EZZN for excess expenditure.

10 Aug 2015: Module closes at 5 pm on Tuesday 27 August Essential Tasks Final date for completion Review Fixed Asset Register Mon 12 Aug Physically verify assets Mon 12 Aug Notify FA Helpdesk of disposals or amendments Mon 12 Aug Return FA register to Fixed

2 Apr 2015: To be classed as a donation or grant, a receipt of funds or assets must have been freely given, with no consequent obligation on the University to provide goods or services to the benefit of the donor.

4 Sep 2015: You can then link this Source of Funds with any of your department's cost centres.

18 Aug 2015: The University’s STCs and the Late Payment of Commercial Debts (Interest) Act 1998 allow us to charge interest and fees on overdue debt. In deciding whether to charge interest, consider the relationship with the customer and the reason for

4 Sep 2015: These are for Finance Division use only. These Sources of Funds show fixed asset capitalisation and depreciation movements. University policy is that we only capitalise and depreciate assets over £30,000 in value. Depreciation is calculated and

5 Aug 2015: Expenditure without supporting receipts/vouchers may be considered by HM Revenue & Customs as a taxable benefit and therefore details should be submitted to the Payroll Section at the end of May for the previous tax year (ending 5 April) as part of

6 Aug 2015: An overview The University’s financial year end is 31 July, the date being set by the Office for Students (OfS) and it applies to all higher education institutions.

23 Jul 2015: Income and expenditure on Trust Funds can be monitored using the Cognos General Ledger reports. However, there is a specific report for Trust Funds which summarises the purpose, performance, and activity of each Trust Fund.

4 Sep 2015: AAAA should be used to record general departmental running costs where costs cannot or should not be funded from elsewhere (e.g. ... Administered funds hold Chest budget allocations to meet certain costs incurred University-wide and which do not form

17 Aug 2015: Customer receipts The UFS system is not capable of producing receipts for customers. Therefore, if a customer requests a receipt, you can provide written confirmation of receipt by email, pre-printed duplicate receipt pad or printed document.

17 Aug 2015: It is recommended the Incomplete Invoices report is run regularly, but the following procedures must be completed by month-end: Run the Incomplete Invoices Report which lists all transactions that have not been completed and require further action (i

23 Jul 2015: If a budget is overspent the first thing to do is investigate the reasons for the over-spend. If the over-spend is the consequence solely of a timing difference, then no immediate action is likely to be required.

23 Jul 2015: In some instances, accrued surpluses may be utilised to resolve accounts that have gone into deficit. It is critical to identify how the surplus has arisen and whether there are rules concerning how those funds may be used (e.g. specific donations

17 Aug 2015: A collections strategy that is appropriate to your institution and customers must be developed and recorded for all your debts. The credit risk sections covered in Pre-sales can be used as a guide, specifically types of customers and types of

18 Aug 2015: Customers who do not, or cannot, make full payment by the due date may request an extension to the agreed credit terms. The most common proposal is to make payment by instalments.

1 Apr 2015: The permanent capital element of a Trust Fund is distinct from the spendable capital, by the use of a different Cost Centre within the same Source of Funds. ... Subject to the terms of the trust deed, you can pay invoices out of the spendable capital

5 Aug 2015: The University’s credit card procedures aim to ensure: • Departments accurately account for their expenditure on credit cards. • Control is maintained over the nature and level of expenditure. • Adherence to the University’s purchasing

5 Aug 2015: Departments are responsible for the coding and authorisation of University credit card expenditure in Concur. Additionally, the spend should have the relevant VAT classification selected. This includes VAT and Services Tax in a similar manner to AP

23 Jul 2015: It is always important to have a clear picture of financial plans, both income and expenditure. The Financial Regulations state that “Heads of Institutions are authorised to incur expenditure not exceeding the limits of funds available to the

17 Aug 2015: It is the responsibility of the institution to ensure checks have been made to substantiate customer claims before refunding. Written authorisation from Head of Institution or delegated authority should be received and retained for audit purposes.

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

5 Aug 2015: Where a University employee is required to incur expenditure on University business, a cash advance may be made to assist in covering this expenditure. Standard forms (which must be used), are available for this purpose. A request for a cash advance

5 Aug 2015: Cardholders are responsible for ensuring all transactions are processed in Concur by 15th of the month following the transaction. The transactions must be supported by receipts/invoices. HM Revenue & Customs may consider un-receipted transactions to

10 Aug 2015: Key date. Month End processes completed:. Non-direct costs, pooled labour, apprenticeship levy transfer.

31 Mar 2015: Each department should make one or more persons responsible for the fixed assets. Their duties would include: Regular checks to ensure that assets are being correctly maintained. Notification to Fixed Asset Helpdesk of any assets disposals.

17 Aug 2015: Credit control is an important process that establishes controls both pre- and post-sale to ensure the timely recovery of income owed to the University. The objective is to optimise cashflow and minimise the risks of non-settlement, which become

5 Aug 2015: Completed Action Check each transaction has supporting documentation.

1 Apr 2015: the units held cannot be sold. The CUEF income generated from the permanent capital is credited monthly to the spendable part of a Trust Fund (cost centre ZZYB) under the transaction

17 Aug 2015: Prior to any sale being made, institutions must establish whether VAT needs to be charged for the supply of good or service to this specific customer. To ensure the correct tax treatment is used for a sale, the following information must be

17 Aug 2015: Occasionally an institution may make a sale to a customer who operates a self-billing process. This is where the customer generates a sales invoice on our behalf and is typically followed up with a payment. It is common in the agricultural and