Updates
F - Purchasing.
The threshold in clause 18.4(d) has been corrected to exclude VAT. Additionally, the reference has been updated from Director of Finance to Chief Finance Officer.
C - Contract Execution and Commencement
The Chief Financial Officer (CFO) has been added to the lists of persons having authority to sign contracts that affect more than one Department and to the lists of persons who have authority to authorise affixing of the University's seal.
F - Purchasing
The limit for advance payments requiring prior written consent from the Head of Department has been increased from £10,000 to £50,000 (inclusive of VAT). The threshold for advance payments requiring approval from the Director of Finance has been raised from £10,000 to £50,000 (inclusive of VAT).
F - Purchasing
Reg 18.4(d) reference corrected to Regulation 6.2
J - Staffing
Reg 31.3 The principles and rules for expense reimbursement are set out in the Employees Expense Policy and not in the the Finance procedures.
M- Explanatory Notes
The paragraph on EU Public Procurement Directives, now reads "The Council, on the advice of its Finance Committee, reviews and confirms annually whether the University remains outside their scope."
Schedule 1 Competition Procedures
References to EU thresholds and the management of EU Tenders through Procurement Services have been removed from the table.
Schedule 2 – Definitions
The reference to EU Tenders has been removed
Schedule 1 Competition Procedures
The threshold at which competition procedures must be followed for purchases increased from £1000 to £5000.