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23 Jul 2015: The primary consideration when budgeting for a non-Chest activity is to ensure that expenditure does not exceed the funds available. Therefore, the best place to start when budgeting for a non-Chest activity is to calculate the income available.

2 Apr 2015: CUDAR's 'Procedures for Handling Donations' document explains the detailed University procedures for accepting donations. Departments should use these procedures before approaching any potential donors.

7 Apr 2015: Transfers of donated funds to other institutions must always be approved by the Head of Department and be in accordance with the terms of the gift and the University's general charitable purposes.

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

31 Mar 2015: the Asset Additions (UFS) report to check new additions during that time.

20 Mar 2015: At a strategic level setting budgets ensures that available resources are used to fund current activities and to invest in new areas of activity.

5 Aug 2015: From April 2015, HMRC changed the rules as to how VAT should be accounted for on invoices with a prompt payment discount. Prior to the change, VAT would always be calculated on the discounted value irrespective of whether the discount was actually

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.

20 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

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

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

1 Apr 2015: Often departmental activities will be funded from a variety of sources that may include income for a trust fund.

18 Aug 2015: Debt should only be written-off if it is genuine and due, and it has been established it is not possible or economic to recover, having completed all previously listed activities in this section. Uncollectible debts, including those in respect of

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.

2 Apr 2015: They can then be sub-divided using cost centres if required. Setting up a new source of funds for each general donation is unnecessary and should be discussed with your Finance

2 Apr 2015: Since 1 August 2003, overheads, calculated as a percentage of salary costs, have been charged on donation accounts and special funds. The policy aims to ensure that a contribution is made towards the infrastructure costs of activities funded from

31 Mar 2015: Search site. Finance Division. Tag numbers. Departments have the responsibility to ensure all new asset purchases are uniquely tagged by a numbered security tag.

23 Jul 2015: A variance is the difference between actual and budgeted income and expenditure. Therefore, at the University, we only get variances in GL (General Ledger) on Chest funded activities. For all other sources of funds budgetary control will be

12 Aug 2015: Departments charge expenditure (excluding Staff costs, Pooled labour, Overheads and Non-direct costs) using UFS iProcurement and Accounts Payables (AP) modules. When charging expenditure in these modules you need to enter the award, project and task

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

12 Aug 2015: Research Grant expenditure will always be mapped across to a source of funds code MA**. The MA indicates research, the next letter indicating the sponsor type, and the last letter indicates the VAT Status. The sponsor type “letter” is used for

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

7 Apr 2015: The GL is at the heart of CUFS, collating information from the sub-ledgers of all of the University's financial transactions. The GL is used for processing journals, account enquiries and running reports.

2 Apr 2015: The University will seek to avoid the situation where it becomes committed to expenditure for which it has insufficient funds. Accordingly, the terms of any specific donations and endowments must be carefully considered before a gift is accepted.

17 Aug 2015: Chosen methods of marketing goods and services for sale must not result in negative attention for the University or affect its corporate branding and reputation. Institution websites must adhere to the University branding standards. Refer to Office

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.

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.

12 Aug 2015: The University Procurement Procedures must be followed for the purchase of all items of equipment and the ‘Track as Asset’ box in AP checked for all purchases over £5,000 (including non-recoverable VAT).

12 Aug 2015: Each department has a suspense project and award with the format RG00000 (dept cost centre) for the award code and dept cost centre/000 for the project code. Eg. RG00000 (EWAG) EWAG/000 The suspense account is used for posting expenditures which

4 Sep 2015: All these sources of funds designate what the University describes as self-supporting activities. They should be self-funding in that they cover all their related costs. Thus, an overriding principle is that the full costs of an activity should be

1 Apr 2015: The Notice would usually be accompanied by a grace, or grace and report, to set up regulations for the management of the new trust fund. ... They will then organise a journal to be done to transfer the funds to the new trust fund account.

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.

20 Mar 2015: Communicating changes in student numbers, new courses being introduced, or Surplus Improvement Fund projects (your Finance Business Partner or Institution head of finance will know if these are relevant).

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

23 Jul 2015: A budget is the financial representation of a planning process, usually annual. It is finalised before the beginning of a financial year and actual income and expenditure are measured against it as a means of reviewing performance and controlling

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

18 Aug 2015: 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 institution and the University.

6 Aug 2015: Cambridge University Technical Service (CUTS) is a wholly owned subsidiary of a Cambridge Enterprise Limited. By using CUTS, the University is able to avail of charitable tax reliefs to ensure that full economic benefit of profitable consultancy

23 Jul 2015: In general, trust funds established after 1995 will pay an overhead of 20% (or 30% for most funds established after 2007) of the gross pay costs charged to the fund. This is normally indicated by the inclusion of the phrase “and associated

4 Sep 2015: Specific donation accounts are set up for funds donated by way of gift to the University, or a department, for a specific purpose excluding: a contribution to the construction of a building funds which are required to be held as an endowment grants

31 Mar 2015: University Council's Policy When financial internal controls are operating satisfactorily within a department the likelihood of theft or fraud is reduced, although it cannot be completely eliminated.

23 Jul 2015: the purchase of a new photocopier, is now funded from School/UAS reserves instead of the non-recurrent grant pot.

10 Aug 2015: Module closes at 5pm on Wednesday 7 August Essential Tasks Final date for completion Physical stock take (all institutions with stores) Wed 31 Jul Update Inventory balances with the results of stock take Wed 7 Aug Process all receipts and issues

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

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

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.

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.

12 Aug 2015: Regular courses are provided for new users of the Grants Module and for those involved in research grant management/administration.

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

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