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20 Mar 2015: You will be able to view details of departmental deposits and interest received using the Cognos Reporting tool. The suggested report is the GL: Budget to Actual, using analysing transaction codes: NBAA (Deposit account interest) and SCBA (Monies on

20 Mar 2015: An annual Investment management report of the CUEF is produced each year end.. This report presents the results for the year, details of the asset allocation of the fund, commentary on performance and records historic performance. If you would like

1 Apr 2015: Currently this depends on the number of CUEF units that are held and is calculated by multiplying the number of units by the distribution rate. It is credited to departmental accounts on a monthly basis on transaction code NAAA.

4 Sep 2015: Detailed information for research grants is held in the Grants (GMS) module in UFS. Summary information is passed into the General Ledger via a nightly interface. Transactions are summarised by department and by sponsor type.

20 Mar 2015: The monthly interest calculation is run by the Treasury & Investments team using balances as at the end of working day four of the month-end processing period. No further deposit movements should be processed after this date. Interest earned varies

20 Mar 2015: Twice a year, departments are sent a summary of their unit holdings as at 31 December and 30 June. Alternatively, departments can run the UFS Transaction Code Balances report at any time to obtain this information.

21 Apr 2015: Final expenditure on RCUK Final Expenditure Statements due between Saturday 20 December 2014 and Monday 12 January 2015 must be confirmed to Research Operations by Tuesday 16 December.

4 Sep 2015: These are for donations where the donor has specified that the gift is to be invested for the longer term, but where no trust fund has been established. In most cases the donor has also placed restrictions on the use of the income arising.

4 Sep 2015: The codes most used in departmental transaction processing are those beginning E (for non-pay expenditure). The second character clarifies the particular type of expenditure, and the last two characters give the detail.

20 Mar 2015: This is done by means of a journal in the GL. In a new batch start a journal in the normal way. Key fields are: Period: For deposits the period will be the current period.

31 Mar 2015: Security of equipment Heads of Departments should establish procedures to ensure that all items of equipment are adequately protected against loss and misuse. Maintenance or improvements to equipment When spending money on an existing asset it

5 Aug 2015: University credit cards are only available to employees whose contract of employment is issued by the University. Institution Heads are responsible for ensuring that the issue of a card is appropriate. To request a new credit card: • The applicant

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.

20 Mar 2015: Unit holders register their intent to buy or sell prior to the quarter date and are advised of the unit valuation once calculated.

20 Mar 2015: The CUEF distribution is credited to investors quarterly at the agreed rate for the University's Financial Year. The agreed rates for the CUEF distribution are available on the Finance Division web page, CUEF distribution (yearly).

21 Apr 2015: If you are interested in attending the session, please register your interest by emailing Anna.Barham@admin.cam.ac.uk by 20 January.

17 Aug 2015: Where a prospective customer has requested a quotation (or it is considered appropriate to issue one), use the template from the Finance Division web page. The issue of a quote and its subsequent acceptance by the customer guarantees the application

4 Sep 2015: Many departments receive income from trust funds. Each trust has its own deed that details the rules and regulations concerning its set up and use. Details of each trust are recorded in the University’s statutes and ordinances.

6 Aug 2015: Introduction and overview Heads of Institutions that receive income from the sale of goods or services, including Research, must establish procedures to ensure that all sales are authorised and supplied as agreed.

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

12 Aug 2015: The budget is divided into project(s), task and then into expenditure categories.

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

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

20 Mar 2015: Institutional responsibilities for budgetary planning and control The amount of input required from an institution for Chest budgetary planning and control can vary by institution and whether the budget is devolved fully.

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%.

21 Apr 2015: Workshops. To assist PIs and Departmental Administrators in using the software, ResearchFish will be delivering workshops on Monday 20 October to demonstrate the system.

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: 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,

18 Aug 2015: This is a contingency that must be accounted for by all businesses that extend credit to customers as there is always a risk that payment will not be collected. Once the Accounts Receivable module closes after each month end, the Credit Control team

20 Mar 2015: Currently, the University formally creates budgets in UFS and monitors them via Cognos reports, for three areas of activity: Chest income and expenditure Research grants and contracts Expenditure on buildings Institutions are free to establish local

23 Nov 2015: Amounts above GBP £10K require additional verification. To ensure payments are processed efficiently and accurately, a copy of the invoice must be sent to the Accounts Payable Payments Administrator as soon as it has been processed.

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.

12 Aug 2015: Checking that all expenditure posted in the Grants module correctly posted to the GL is undertaken by Research Accounting.. Departments should not post any expenditure to ‘M’ source of funds codes.

4 Sep 2015: This is used to define the department or institution processing the transaction, e.g. AG for the Finance Division. The first letter can help to indicate the group to which the department belongs.

5 Aug 2015: The search facility enables staff to find current suppliers.

5 Aug 2015: For all enabled currencies within UFS (excluding US Dollar & Euro/Euro defined), the Treasury team will load a monthly Corporate exchange rate onto UFS. For US Dollar and Euro, the Treasury team will load a daily Corporate exchange rate onto UFS.

11 Aug 2015: Departmental Key Contacts can request access for departmental members of staff to view research grant data in the UFS Grants module.

5 Aug 2015: High Street suppliers should not be used. In general they do not provide the same credit facilities or preferential rates as larger companies offer. Warranties may not be valid in some instances where domestic goods are purchased that may be used in

12 Aug 2015: UFS is a commitment accounting system. This means that details of any orders placed in the UFS iProcurement Module are transferred to the UFS Grants module and funds are then reserved for the purchase. These are shown as commitments on several

12 Aug 2015: Each department has one or more GL cost centres into which expenditure from the Grants module is mapped. The standard cost centre for this is **AG, the first two letters being the department code. This may vary in departments where more than one

12 Aug 2015: Staff costs are imported into the Grants module monthly. Where Staff costs have been incorrectly coded they can be transferred using the Tools/Transfer function in the Expenditure enquiry screen. Costs which fail validation will go to departmental

12 Aug 2015: Disbursements from petty cash can be charged to a research grant. There is a limit of £25 per item and all petty cash expenditure should be supported by a receipt.

12 Aug 2015: Awards payable in US Dollars, Euros or other foreign currencies will be budgeted in sterling. The foreign currency policy is detailed under Foreign currency grants Awards denominated in Euros or US dollars are budgeted using a lifetime rate.

12 Aug 2015: Your School Team in the Research Operations Office must be notified of all amendments to a grant, e.g. extensions (cost and no cost), supplementary funding and virement of funds between expenditure categories.

5 Aug 2015: Department users are only able to use the Corporate exchange rates (i.e. are unable to enter User exchange rates). CUFS will usually default to this as the Rate Type. If prompted to complete this field when entering a foreign currency transaction,

12 Aug 2015: Grants that are awarded in a foreign currency will be converted to sterling at activation stage, using the University’s foreign exchange policy. The preferred currency for research grants is sterling. For US Dollar and Euro denominated grants the

23 Jul 2015: As well as the GL Financial Summary Report, there are other Cognos reports that deal with actual and budgeting variances. Refer to the Finance Division Training webpages Guidance and FAQs, Cognos reports, for a list of reports and detailed assistance

5 Aug 2015: Amendments to an existing supplier record are only acceptable if they are accompanied by official documentation regarding the relevant change. This may be in the form of a letter from the company stating the change or a copy of an invoice headed

5 Aug 2015: All reimbursements for travel and other expenses are made via the Accounts Payable Module, which means that a payment cannot be made to an individual unless they are on the Suppliers List. If required, refer to new supplier set-up procedures. This

5 Aug 2015: AR Invoices are automatically transferred overnight (via an interface) into the receiving department’s AP module. PDF invoice copies are automatically emailed nightly to the receiving department. Departments should be emailing any backup