9.1
Heads of Department shall:
9.2
Staff must comply with the Finance Division CUFS user policy
9.3
Record keeping must comply with data protection legislation. The University is subject to the Freedom of Information Act 2000 and members of the public may request copies of University documents. Staff must follow the guidance published by the University’s Information Compliance Office and take that Office’s advice as necessary.
10.1
All University Income must be paid promptly into a bank account in the name of the University (and into no other account) and be accounted for in CUFS. All University expenditure must be paid from a University bank account and be accounted for in CUFS.
10.2
Departments and Staff have no authority to open bank accounts (whether in the UK or abroad) for any University activities without the prior written consent of the Director of Finance.
10.3
Where possible Departments shall separate duties for receiving and recording University Income. Where this is not possible regular independent checks shall be made.
10.4
The Financial Procedures Manual lays out further financial requirements including in respect of cash, petty cash, banking, credit card and related matters.
11.1
Heads of Departments are authorized to incur expenditure not exceeding the limits of funds available to the Department. They are responsible for ensuring that monitoring and control arrangements are adequate to prevent over-commitment of expenditure; that all funds under their control are used only for the purposes for which they are allocated; and resources are used in accordance with the Environmental Sustainability Policy. The Head of Department (or budget holder where authorized by the Head of Department) shall approve expenditure.
11.2
The Financial Procedures Manual lays out further financial requirements and guidelines, including in respect of travel, subsistence, and entertainment and related matters.
12.1
Heads of Departments must establish procedures to ensure that
12.2
With the exception of research grants claims, Departments are responsible for debt collection in respect of invoices issued to third parties. Advice must be sought from the Director of Finance where legal action to recover monies is considered.
12.3
Uncollectible debts, including in respect of sponsored research activity, will be an expense against the Department. The following authorities exist to write-off bad debts or for part settlement, where all reasonable steps have been taken to recover them:
The Taxation Section must be informed of all write-offs (including partial write-offs) of VAT invoices, as the VAT may be reclaimable.
13.1
Staff shall send grant applications and proposals for research contracts to the Research Operations Office for approval before their submission in accordance with Research Operations Office policy.
13.2
Heads of Department shall ensure there are appropriate arrangements:
13.3
The Research Operations Office shall raise all invoices for sponsored research funding.
13.4
All research grant or contract income and expenditure, from whatever source of funds, must be notified to the Research Operations Office and no part of this income may be transferred into donation accounts or other special funds, other than funding remaining unspent at the end of the research which the funder has agreed the Department may retain.
13.5
Heads of Department shall ensure that expenditure on research activity complies with these Regulations. Financial control and record-keeping shall also comply with any additional Research Council or other funder's requirements.
13.6
The Research Operations Office shall ensure all grants are closed on a timely basis and without residual balances.
14.1
Donations belong to the University, not to an individual, and must be paid into a donation account in accordance with Regulation 10.1 [2]. Donations must be requested and received exclusively for charitable purposes. Receipt which improperly influences any decisions made by or on behalf of the University may constitute Bribery. Acceptance of donations must be made in accordance with the Ethical Guidelines for the Acceptance of Benefactions.
14.2
Heads of Department must ensure that
14.3
University trust funds are governed by regulations set out in Statutes and Ordinances [1]. Trust fund managers shall ensure that funds are used for proper purposes in accordance with the rules of the specific fund and the University's general charitable purposes.
14.4
Transfers of donated funds to other institutions can only be to other charitable bodies and must always be approved by the Head of Department and be in accordance with the terms of the gift and the University's general charitable purposes. Transfers shall not be made until the receiving institution has confirmed in writing that the terms of the gift will be observed. Where the transfer relates to the Head of Department's research, the Director of Finance's prior written consent must be obtained.
14.5
Donations cannot be transferred to individuals, except where the individual is the donor and the University is unable to meet the terms of the original gift.
Links
[1] https://www.admin.cam.ac.uk/univ/so/
[2] https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-regulations/d-income-and-expenditure
[3] https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-regulations/i-commercial-activity
[4] https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-regulations/h-corporate-requirements