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Finance Division

 

The Financial Regulations were adopted and approved on 28 May 2012 by the Council after consultation with the Finance Committee. The revised regulations were distributed by the Director of Finance to all Heads of Department.

 

Download the Financial Regulations in PDF format


These have been updated:

19 December 24
Section 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.

1 October 24
Section 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).

1 February 24 
Section M, 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." Following this amendment, references to EU thresholds and the management of EU Tenders through Procurement Services have been removed from the table in Schedule 1 – Competition Procedures and the reference to EU Tenders has been removed from Schedule 2 – Definitions.

1 October 23 
Schedule 1: the threshold at which competition procedures must be followed for purchases increased from £1000 to £5000. 

 

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