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B/5.2 Vice-Chancellor’s Performance Fund |
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5.2.1 Principles 5.2.1 PrinciplesThe Vice-Chancellor's Performance Fund aims to acknowledge and reward the outstanding achievement of individual academic and professional staff by providing performance awards. The Performance Fund enables recognition of individuals who have made a superior contribution in a particular area of activity. Two performance award cycles are conducted each year, with funds provided by the Vice-Chancellor and deployed to faculties and divisions based on the number of full-time equivalent staff employed. An advisory committee within each faculty and division will consider nominations and make recommendations to the executive dean of faculty / head of division. Open calls for nominations will occur in February and August, with the timetable for consideration of nominations to be advertised in each faculty or division. Unless otherwise approved by the Vice-Chancellor, at least 50% of the Performance Fund will be directed to the recognition of outstanding frontline teaching and learning, or the direct support thereof. 5.2.2 Eligibility criteriaVice-Chancellor's Performance Fund awards recognise outstanding achievement by an individual over a specified review period or over the past twelve months. All ongoing and fixed-term academic and professional staff, sessional academic staff, and casual professional staff of the University are eligible to receive a performance award. The Vice-Chancellor's Performance Fund award is not conditional on Performance Planning and Review (PPR) outcomes (see B/9). However the individual must have made a significant and superior contribution or innovation in a specific area of activity. Senior staff are not eligible to receive a Vice-Chancellor's Performance Fund award. 5.2.3 Performance Fund awardsThe Vice-Chancellor's Performance Fund awards are administered by the relevant executive dean of faculty / head of division. All recipients will be acknowledged at a University-wide award ceremony in October of each year. Recipients of a Vice-Chancellor's Performance Fund award will receive a one-off payment of between $1,000 and $5,000. The performance awards will be reviewed periodically by the Vice-Chancellor to ensure the maintenance of value and relativity with the Vice-Chancellor's Awards for Excellence (see B/5.1 ). The award money may be paid as a one-off non-superannuable salary payment or may be used at the recipient's discretion for work-related purposes (eg for equipment purchases or to offset costs of participation in conferences, seminars and training courses). Relevant taxation will apply to any salary payment. Any equipment purchased by the University with award monies remains the property of the University, subject to University policy. Any expenditure of award monies (other than money paid as salary) should conform with the University's policy on appropriate expenditure of University funds (see G/5.1 and the Financial Management Practice and Procedures Manual ). 5.2.4 Review processVice-Chancellor's Advisory Committee and Assurance and Risk Management Services are responsible for reviewing the processes and practices associated with implementation of the Vice-Chancellor's Performance Fund award cycle. 5.2.5 ReportingExecutive deans of faculty / heads of division will report to the Vice-Chancellor, through Vice-Chancellor's Advisory Committee, on performance awards and funding decisions following each Performance Fund award cycle. Related DocumentsMOPP B/5.1 Vice-Chancellor's Awards for Excellence MOPP B/9 Performance Planning and Review MOPP G/5 Expenditure Financial Management Practices and Procedures Manual Human Resources website - guidelines for Vice Chancellor's Performance Fund awards Modification History
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