Financial Responsibilities

All staff given financial responsibilties must ensure that financial policy, procedures and internal controls are operating as intended.

Each Head of School/Department has a number of financial responsibilities including:

• Financial approval of claim forms, purchase orders, invoices and IDNs
• Power to sign agreements for the acquisition of services for the faculty
• Montoring, approval and follow-up of credit card expenses
• Disposal of assets
• Ensuring vehicle logbooks are kept for department/pool vehicles
• Retention of of travel diaries or declarations

Faculty Managers support their deans and faculty staff in relation to financial matters in the following ways:

• Negotiate and set faculty financial plans
• Faculty budget co-ordination and consolidation - monitoring, corrective action and reporting
• Distribution of DEST revenue to schools/departments
• Financial approval of claim forms, purchase orders, invoices and IDNs
• Managing activity based costing in the faculty
• Course and project costing
• Montoring, approval and follow-up of credit card expenses
• Arrange and manage insurance issues

Faculty and Divisional Finance Managers support their faculties and divisions in relation the financial matters by:

• Approving claim forms, purchase orders, invoices and IDNs
• Montoring, approval and follow-up of credit card expenses
• Overseeing procurement functions
• Undertaking stock-take responsibilities
• Preparing financial reports
• workflow monitoring etc