Financial Delegation Policy
Responsible officer: Vice-Chancellor
Designated officer: Chief Financial Officer
Council approval: C98/94, 24 November 1998
Last amended: C08/39, 17 June 2008
Related policies:
Overview
Delegations of financial authority within the University are intended to achieve three objectives:
- to ensure the efficiency and effectiveness of the University's administrative processes
- to ensure that the appropriate officers have been provided with the level of financial authority necessary to discharge their responsibilities, and
- to ensure Internal Controls are effective
The University’s Financial Delegation Policy identifies the University’s requirements for authorisation of financial functions. This document lists all applicable financial related activities, identifies the authorities granted to the Vice-Chancellor and identifies the process of maintaining a Schedule of Financial Delegations.
1. Legislative requirements
Financial delegations are to be exercised in accordance with the University of the Sunshine Coast Act 1998, the Financial Management Standard 1997, the Financial Administration and Audit Act 1977 and associated audit requirements.
The University of the Sunshine Coast Act 1998 (section 11) enables the University Council, as the governing body, to delegate certain powers to:
- an appropriately qualified member of the council, or
- an appropriately qualified committee that includes 1 or more members of the council, or
- an appropriately qualified member of the university’s staff
However, the council may not delegate its power:
- to adopt the university’s annual budget, or
- to approve spending of funds available to the university by way of bequest, donation or special grant, although Council may delegate its power to approve the spending of such funds for amounts of no more than A$100,000
2. General principles for application
All expenditure incurred by the University must be for University purposes and must comply with policies as determined by Council from time to time. Council must approve, either directly or through delegation, all expenditure incurred by the University. Financial Delegates have authority to commit the funds of the University within the budget approved by Council.
The financial delegations contained in this document are applicable to a position or committee, not to an individual person(s). When applying financial delegations, at any one point in time the authorising or delegated officer shall refer to the committee or individual that is currently incumbent within the nominated role.
This document details minimum delegations for financial related functions and activities within the University. This means that where, for example, the position of Dean is the authorising position, the position of Deputy Vice-Chancellor may also exercise the appropriate delegation.
Financial responsibilities, either of Council or a delegated authority, apply to all funds received by the University.
A delegate may not exercise a delegation that will result, either directly or indirectly, in any tangible benefit to the delegate. If any conflict of interest occurs this must be declared in accordance with the Code of Conduct.
3. Authorities and roles
3.1 Authority to approve financial delegations
Council is the approving authority for financial delegations within the University. Council will establish the authorities delegated to the Vice-Chancellor.
The Vice-Chancellor may from time to time issue or amend the Schedule of Delegations for sub-delegations below A$100,000.
3.2 Roles
The Chief Financial Officer
- in conjunction with the Vice-Chancellor, is responsible for coordination, amendment and review of all financial delegations and for the administration of financial delegations
- shall act in an advisory role for University staff with regard to the administration and application of financial delegations, and
- must be advised of all staff movements against positions exercising a financial delegation
4. Authorities delegated to the Vice-Chancellor
4A. Authority of the Vice-Chancellor
Unless otherwise stated, there are ‘no limits’ on the approval authority for the Vice-Chancellor in the areas below. Where the Vice-Chancellor has a delegated authority with no limit, the relevant Cost Centre Manager or responsible party for advising the Vice-Chancellor is noted.
- Capital commitments for major building projects (up to and including A$3million)
- Allocation from University Contingency - Chief Financial Officer
- Transfer of funds between Cost Centres - Chief Financial Officer
- Ex-gratia payments - Chief Financial Officer
- Purchase or lease of new or replacement vehicles - Director, CPO
- Approval of fees for fee-paying programs of study - Deputy Vice-Chancellor
- Contractual documents binding the University - Cost Centre Manager
- Expenditure within budget allocations - Cost Centre Manager
- Requisition services from within USC e.g. Reprographics - Cost Centre Manager
- Raise Assessment for Income - Cost Centre Manager
- Signing of University cheques/approving electronic transfer of funds - Other Signatory
- Obtain and approve tenders - Chief Financial Officer or Director, CPO
- Approval of petty cash advance - Chief Financial Officer
- Cancellation of bad debts - Chief Financial Officer
- Student Loans - Deputy Vice-Chancellor
- Authority to travel - Cost Centre Manager
- Placement of University's investments - Chief Financial Officer
- Placement of insurances - Chief Financial Officer
- Disposal of obsolete equipment - Cost Centre Manager
- Adjustment of Asset Register records - Chief Financial Officer
- To authorise the use and location (off campus) of vehicles and equipment - Director, CPO
- Approval of library, publication and other administrative charges and fees - Deputy Vice-Chancellor
- Approval to defer, waive or refund a charge or fee incurred - Deputy Vice-Chancellor
- Approval of refund or waiving of student fees Deputy Vice-Chancellor
- Approval of the issue of Corporate Credit Cards - Chief Financial Officer
- Approval to spend funds available to the University by way of bequest, donation or special grant for a matter funded by bequest, donation or special grant (up to and including A$100,000)
- Payments to meet legislative requirements, these are:
- UniSuper for staff superannuation contributions
- Office of State Revenue for payroll tax, and
- Deputy Commissioner of Taxation for PAYG tax, GST and FBT Chief Financial Officer
4B. Authorities that cannot be sub-delegated by the Vice-Chancellor
1. Allocations from University contingency
2. Transfer of funds between Cost Centres
3. Capital commitments for major building projects less than A$3million
4. Ex Gratia payments
5. Purchase or lease of new or replacement vehicles
6. Approval of fees for fee-paying programs of study
4C. Authorities that may be sub-delegated by the Vice-Chancellor
(unless otherwise stated, to a maximum of A$100,000)
7. Contractual documents binding the University (other than Purchase Orders) *
(* to Deputy Vice-Chancellor and Pro-Vice-Chancellor, International and Quality)
8. Expenditure within budget allocations
9. Requisition services from within USC eg Reprographics
10. Approval to issue a purchase order
11. Raise Assessment for Income (no limit)
12. Signing of University cheques/approving electronic transfer of funds (no limit)
13. Obtain and approve tenders
14. Approval of petty cash advance
15. Cancellation of bad debts
16. Student Loans
17. Authority to travel
18. Placement of University investments (no limit)
19. Placement of Insurances
20. Disposal of obsolete equipment
21. Adjustment of Asset Register records
22. To authorise the use and location (off campus) of vehicles and equipment
23. Approval of library, publication and other administrative charges and fees
24. Approval to defer, waive or refund a charge or fee incurred
25. Approval of refund or waiving of student fees
26. Approval of the issue of Corporate Credit Cards
27. Approval to spend funds available to the University by way of bequest, donation or special grant
28. Payments to meet legislative requirements. These are: UniSuper for staff superannuation contributions, Office of State Revenue for payroll tax, and Deputy Commissioner of Taxation for PAYG tax, GST and FBT (no limit)
5. Schedule of financial delegations
The Vice-Chancellor shall authorise a Schedule of Financial Delegations. The Vice-Chancellor may approve sub-delegations from items 7 to 28 above. The schedule shall:
- identify delegates by position title
- identify the specific authorities
- set the maximum limits for each delegate
- set out any limitations to the exercise of authority
- set out constraints such as budget compliance and compliance with relevant university policies.
The Chief Financial Officer may authorise all minor changes to the Schedule of Financial Delegations (eg adjustments to position titles) and the establishment of any limits within this Schedule of up to and including A$50,000.
Review
In accordance with Council Policy, this policy document shall be reviewed in five years. This requirement does not, however, preclude earlier review.
Back to top