Manual of Policies and Procedures

G/2.1 Trusts, gifts and privately funded positions

Contact Officer

Executive Director, Finance Resource Management

Approval Date

03/09/2013

Approval Authority

Chief Financial Officer

Date of Next Review

01/09/2016

2.1.1 Variation of trusts and gifts
2.1.2 Privately funded academic positions
Modification History

2.1.1 Variation of trusts and gifts

In exercising its power to acquire, hold, dispose of, and deal with property, the University may agree to and carry out any conditions of a gift, grant, bequest, devise etc. Council may create any trust or other fund for this purpose, as provided under Part 5 of the Queensland University of Technology Act 1998 (the QUT Act).

The Division of Business Development (Advancement Office) receives all bequests, donations and gifts on behalf of the University.

Under Division 1 of Part 5 of the QUT Act, the University may propose the alternative use of funds remaining after the original purpose of a trust or gift has been met or where it is no longer possible to carry out the stated purpose of a trust or gift.

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2.1.2 Privately funded academic positions

The Vice-Chancellor and President approves the creation of privately funded academic positions at Level E (professor), and the Provost approves positions at Levels C - D (senior lecturer and associate professor) in accordance with policy B/3.3.
These positions are funded by industry, commerce or statutory authorities, and may be named after sponsoring organisations at the discretion of the Vice-Chancellor and President or, where appropriate, the Provost.

For industry sponsored academic positions, it is envisaged that the sponsor will pay all costs including “on costs” and where appropriate staffing costs related to consequential reduced teaching loads associated with filling the position. The amount to be contributed may be negotiable.

For privately supported academic positions the donor is requested to meet all necessary costs associated with supporting the academic position. The amount to be contributed may be negotiable.

When funds for sponsored positions are received from a contributor, the appropriate organisational area is entitled to draw on the funds in line with conditions laid down on the use of the funds.

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Modification History

Date

Sections

Source

Details

03.09.13 G/2.1.2 Executive Director, Finance and Resource Planning Periodic review - minor revisions only

19.06.08

All

Acting Executive Director, Finance and Resource Planning

Policy reviewed – no change required

08.12.06

G/2.1.1

Executive Director, Finance and Resource Planning

Updated policy consistent with QUT Act

01.03.06

G/2.1.2

Council

Revised approval authority for creation of privately funded academic positions

06.09.05

All

Executive Director, Finance and Resource Planning

Updated consistent with Schedule of Authorities and Delegations; policy renumbered (formerly G/2.6 and G/2.7)

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