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7 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.

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

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

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: 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

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

1 Apr 2015: In either case a written request should be sent to the Central Accounting Section (email: UFS_GL@admin.cam.ac.uk) in the Finance Division, who will set up the new

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 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

23 Jul 2015: For example, a delivery of consumables may be delayed due to lack of stock at the wholesaler or delays with the recruitment process may delay the appointment of a new staff ... For example:. The planned activity does not occur, e.g. a new staff

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.

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

1 Apr 2015: Spendable capital units can be bought and/or sold as required at the end of the following quarters: September December March June Requests must be received by the Trust Funds Assistant at least two weeks before the last working day of the month.

23 Jul 2015: The table below details those activities and sources of funds for which budgets are not created in UFS, unless your Finance Business Partner/Institution Finance Manager tells you otherwise. These activities are monitored by comparing Actual

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

1 Apr 2015: As part of the month end procedures, the Finance Division will credit the interest due to any trust fund accounts holding money on deposit. This credit will appear in the trust fund account against the transaction code NBAA, and will be available to

1 Apr 2015: Some trust funds have managers in more than one department. These funds are therefore mapped to Central Administration and are listed under "General" when the Annual Accounts are published in the University Reporter.

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

12 Aug 2015: Each research award will be activated within the UFS Grants module and given a unique award number, prefaced by RG or G. This will then be linked to a unique project number. It is helpful to quote the award RG/G number or project number in all

1 Apr 2015: Overheads are charged on trust funds that have been set up since 1995 where the fund is paying for a specific post or posts if the regulations of the fund permit. Trust funds set up from May 2007 onwards, are charged 30% overheads on staff costs.

2 Apr 2015: Where departments receive donations directly in the form of cash and/or cheque then these should be forwarded to CUDAR for processing. CUDAR will then take responsibility for the banking of monies and receipting on UFS. If appropriate they will

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

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

1 Apr 2015: In some cases, it is understood that this is not possible, where reserves are being accumulated for long-term purposes such as contributing towards new buildings.

1 Apr 2015: Most trust funds will have some permanent capital - the original endowment that cannot be spent by the Managers. A number of funds do not have permanent capital as, under the terms of the bequest, both the original donation and any income generated,

1 Apr 2015: A significant number of the University's Trust Funds are prize funds. The detail of each prize is listed annually in November each year, in a special edition of the Reporter. Many prize funds have the annual income as the value of the prize.

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

12 Aug 2015: The following tasks should be undertaken monthly to ensure that expenditure posted and subsequently claimed from the sponsor is correct. Review expenditure posted to your department suspense grants and re-post expenditures to clear the department

12 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

17 Aug 2015: The University is required by the Office for Students to assess the full cost to the University when determining the price to be charged for research contracts, residences, catering, conferences, and services to external customers.

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

31 Mar 2015: Dispose: minimising cost. NB - Consider including reference to old equipment removal/part exchange in the specification of new/replacement equipment. ... Issue. Procedure. The full value of the new asset is reflected in the FA module.

1 Apr 2015: The constitution of the board of managers or electors of a trust fund is usually laid down by Ordinance. Managers may be appointed by the Council, the General Board, Faculty Board or other bodies. A full list of managers for each trust tund is

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

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

17 Aug 2015: All invoices for sales must be raised in UFS. They must be raised as soon as practically possible after the sale, and at most within one month of the transaction and comply with the VAT regulations. If use of another finance system is essential,

6 Aug 2015: No VAT is charged on stamps or franking machine charges. See goods and services charged without VAT in the UK.

6 Aug 2015: Gift Aid is a procedure where the University can reclaim from HM Revenue & Customs the basic rate of income tax on a donation given to the University by an individual. Currently the University is able to increase the value of the donation by 25%.

31 Mar 2015: At the end of each financial year the Head of Department is required to sign a year-end certificate for their department; this includes certifying that the Fixed Asset Register holds the correct number and type of assets held in the department.

31 Mar 2015: Need a new responsible employee or location added to the list of values? ... Contact the Fixed Asset Helpdesk who will liaise with EM regarding new locations.

20 Mar 2015: section. Major investment, such as refurbishment or the construction of new buildings, has a separate approval process. ... As part of this process the expected contribution from the institution to the cost of refurbishment or new building will be agreed.

17 Aug 2015: As institutions may not receive notification from the customer prior to the payment appearing in the bank account, you must review the twice weekly sterling, dollar and euro electronic payment lists distributed by the Cash Management (CM) Team.

6 Aug 2015: Passenger transport e.g. rail fares, air tickets are zero-rated and no VAT is charged on the purchase. See Goods and services charged without VAT in the UK.

4 Sep 2015: Sometimes departments and trust managers may wish to appropriate (transfer) funds from a trust, for example: where funds need to be appropriated to another department; or where the fund expenditure is large or spread across a number of activities

17 Aug 2015: Additionally, where there is a new type of sale, institutions must consider what specific arrangements need to be agreed with the customer in relation to that activity which are not likely

1 Apr 2015: Trust funds are classified as 'specific endowments' as the benefactor has specified that the funds are to be invested and the investment income is to be used for specific purposes. The funds may be required to be invested in perpetuity or for a

2 Apr 2015: Financial Regulation 14.2 Heads of Department must ensure that: donation accounts and trust funds are maintained in credit; funds are applied for the public benefit for charitable, educational or research purposes only; and any Ordinances or

6 Aug 2015: As a rule of thumb for costing purposes calculating a rate of 5% is usually reasonably accurate.

5 Aug 2015: Credit cards must be used exclusively for expenditure directly relating to University business. This may include travel and restricted entertaining.