• Section 1 - Preamble
• Section 2 - Purpose
• Section 3 - Scope
• Section 4 - Policy
• Table A: Financial delegations for General expenditure
• Table B: Discretionary financial delegates
• Exceptions for certain types of expenditure
• Table C: Exceptions from general financial delegations
• Acquiring shares or other interests from the commercialisation of research
• Credit cards
• Table D: Issuing credit cards
• Investments
• Requirements for all expenditure approvals
• Payment approvals
• Table F: Financial delegations for fees, charges and fines
• Table G: Financial delegations for accepting gifts, bequests and sponsorships
• Table H: Financial delegations for accepting grants
• Grants
• Changes to positions and roles, including acting and interim roles
• Conflict of Interest
• Prohibited exercise of delegation
• Managing Financial Delegations
• Section 5 - Procedure
• Section 6 - Definitions

Section 1 - Preamble

(1) This Policy is effective from 19 March 2018.

(2) This Policy includes the following schedule:

1. Schedule A: Financial Delegations Appointments Form

Section 2 - Purpose

(3) This Policy establishes and authorises financial delegations for the University.

Section 3 - Scope

(4) This Policy applies throughout the University.

Section 4 - Policy

(5) University Council authorises financial delegations and Corporate Finance will manage all applications for financial delegations.

(6) The Chief Financial Officer (CFO) is authorised to appoint financial delegates with expenditure limits of up to $500,000. On the recommendation of the CFO, the Vice-Chancellor is authorised to appoint financial delegates with expenditure limits of between $500,000 and $2,000,000.

(7) All appointments of financial delegates by the CFO or the Vice-Chancellor involving the delegation of authority to spend University funds must be undertaken using a Financial Delegations (Appointments) form. Appointments of other categories of financial delegates (such as for example those relating to the acceptance of gifts, bequests, grants and sponsorships) are made pursuant to a written request for appointment.

(8) A financial delegation can only be proposed by a financial delegate from the same budget centre(s) holding a delegation at a higher level to that being proposed. Except for the circumstances under clause 32 a financial delegation cannot be granted to or held by a consultant / contractor.

(9) If a financial delegate with an expenditure limit of $100,000 or more is appointed under clause 6, the CFO must amend Table A accordingly, and notify Council of changes annually.

(10) The exercise of a financial delegation for a transaction must relate to the cost of the transaction as a whole (including all taxes and duties) not to parts of it.

(11) The splitting of transactions to avoid or circumvent delegation limits is not permitted.

(12) Delegates can approve an increase to the cost of a transaction only if:

1. the total cost of the transaction including the increase is within their delegation
2. the increase is no greater than 10% of the original cost
3. all other requirements of this policy are met.

(13) Increases of 10% or more and any further subsequent increases of any value must be referred to the delegate's supervisor for approval notwithstanding that they may be within the delegate's level of financial delegation.

(14) Delegations relating to expenditure of any kind can only be exercised within approved budgets. There is no authority to incur expenditure unless there is an approved source of sufficient funds.

Table A: Financial delegations for General expenditure

(15) The CFO is authorised to appoint financial delegates according to the positions and expenditure limits listed at Table B: Discretionary financial delegates, via their Head of Organisational Unit. Changes to these limits are at the discretion of the CFO, with any increases based on a sound case provided by the person requesting the increased limit.

Table B: Discretionary financial delegates

Exceptions for certain types of expenditure

(16) Specific expenditure limits are set for certain types of expenditure as listed in Table C. These limits are exceptions and differ from the general financial delegation for a particular financial delegate as set out at Tables A and B above.

Table C: Exceptions from general financial delegations

Acquiring shares or other interests from the commercialisation of research

(17) The Deputy Vice-Chancellor Research will make recommendations about the University taking an issue of or otherwise acquiring or investing in shares or other interests in external entities as part of contracted research, research commercialisation or other aligned strategic business investment and obtain the approval of any two of the financial delegates for that proposal, as shown in Table C: Exceptions from general Financial Delegation.

(18) The financial delegates must be satisfied that the proposal complies with the Commercial Activities and Entities policy and procedure before approving.

Credit cards

(19) The financial delegates listed at Table D: Issuing credit cards have the authority to issue credit cards using the Credit Card Request form and in accordance with the Credit Card policy.

Table D: Issuing credit cards

(20) If a staff member has had a corporate credit card withdrawn or cancelled in the past they may only be issued with a new corporate credit card with the approval of a person with a delegation level of GE4 (Refer Table A: Financial delegations for General expenditure) or higher.

(21) Financial delegates cannot issue credit cards and set credit card limits for themselves. Their line manager must do so.

(22) Only financial delegates can approve credit card expenditure.

(23) Limits for credit cards are set at $10,000 and transaction limits are set at $5,000. Increases to the credit card or transaction limits can be submitted for approval by the Director, Corporate Finance through the Credit Card Request Form. Transaction limits can be set at a lower limit by the approving delegate or at the suggestion of the Director, Corporate Finance if appropriate for staff members' roles. For clarity, this clause is replicated in the Credit Card policy.

(24) If a staff member is issued with a credit card and does not have a financial delegation, they are authorised to enter into financial commitments up to the level of the credit card transaction limit. All such expenditure must be approved by the relevant line manager with the appropriate financial delegation prior to entering into the transaction or at the time of approving the credit card for payment.

Investments

Table E: Financial delegations for investment transactions

Requirements for all expenditure approvals

(25) Prior to providing authorisation, the financial delegate will ensure that the expenditure:

1. is solely for University purposes
2. complies with Procurement policy and procedure and other relevant policy or procedure requirements as applicable
3. does not exceed the approved budget allocation
4. does not exceed the limit authorised under their delegated authority, as previously granted to them.

(26) All refunds paid to a party that is external to the University (i.e. supplier, funding body, student etc) must be approved in accordance with the required Financial Delegation as set out under this Policy.

(27) By authorising expenditure, financial delegates assume responsibility for the transaction. In case of policy breaches, the financial delegate might be subject to internal disciplinary proceedings and/or, if appropriate, criminal proceedings.

Payment approvals

(28) University Council authorises the CFO to appoint authorised officers for effecting payment via electronic funds transfer or cheque.

(29) A list of authorised officers must be kept by the CFO.

Table F: Financial delegations for fees, charges and fines

Table G: Financial delegations for accepting gifts, bequests and sponsorships

Table H: Financial delegations for accepting grants

Grants

(30) A financial delegate may not accept a grant without ensuring the project can accommodate any shortfall between the amount of the grant and the total cost of the project.

Changes to positions and roles, including acting and interim roles

(31) When a staff member holding a financial delegation will not be available to exercise their financial delegation (e.g. annual leave, overseas travel, etc) they must notify their manager and if deemed appropriate assign their financial delegation to a financial delegate. The staff member must advise the financial delegate of this in writing and complete an Financial Delegations (Appointments) Form so that their financial delegations may be allocated to the staff member appointed on an acting basis (ie financial delegate).

(32) From time to time a position in the University may be occupied (for example, in an interim or acting capacity) by an external consultant or by a person contracted by the University through a third party company or external entity. In these cases the approver must ensure that the delegation is both reasonable and appropriate taking into account the monetary limit of the financial delegation, the seniority of the position and whether the financial delegation is critical to the execution of that role. This delegation must be made in writing.

Conflict of Interest

(33) A financial delegation must not be exercised where there is a perceived, potential or actual conflict of interest. In such circumstances the delegation must be exercised in accordance with the provisions of the University's Conflict of Interest procedure and Code of Conduct.

Prohibited exercise of delegation

(34) Financial delegates cannot exercise delegations or approve any action or transaction:

1. in respect of themselves;
2. in respect of any related person or entity; or
3. that provides them or any related person or entity with a direct personal benefit, including (but not limited to) activities such as travel, reimbursements, University Credit Card transactions or other payments as entitled to from time to time.

Managing Financial Delegations

(35) The Director, Corporate Finance will regularly assess the risk(s) associated with each level of delegation and implement controls appropriate to the identified risk(s).

(36) There shall be a Register of Financial Delegations which shall be maintained by the Director, Corporate Finance.

(37) The Vice-Chancellor and the CFO are authorised to revoke a financial delegation at any time.

(38) Unless specified in this policy, a financial delegate cannot delegate their delegation. Any delegations under this clause must be recorded in writing and a copy of this record must be provided to the CFO.

(39) Appropriate records of authorisations must be maintained in line with the Information and Records Management policy.

Section 5 - Procedure

(40) There is no attendant procedure.

Section 6 - Definitions

(41) For the purpose of this Policy:

1. authorised officer: Staff of the University appointed by the Chief Financial Officer to approve payment.
2. expenditure limit: excludes GST and applies to a cost per item, except where several connected items comprise a total acquisition or purchase.
3. financial commitment: a transaction that results in a cash outflow or in-kind outflow of University resources. It does not extend to an authorisation to enter into contracts on behalf of the University (see Contracts policy).
4. financial delegate: Staff of the University authorised by University Council, the Chief Financial Officer or manager to enter into a financial commitment.
5. Senior Managers: Pro Vice-Chancellors, Deputy Deans, Heads of Schools, Directors of Institutes, Faculty General Managers, Heads and Directors of Units, the University Librarian, the University Solicitor, Executive Directors and other senior positions as determined by the Vice-Chancellor.