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Contact Officer | Director, Corporate Finance, Finance and Resource Planning |
Approval Date | 19/06/2008 |
Approval Authority | Council |
Date of Next Review | 01/06/2011 |
3.4.1 Borrowing principles
3.4.2 Government funding programs
3.4.3 Loans
Modification History
3.4.1 Borrowing principles
QUT may borrow, with the approval of the Treasurer, in accordance with Part 5 of the
Statutory
Bodies Financial Arrangements Act 1982
.
External loans relate to funds required to supplement the normal revenue streams, thereby enabling
the University to achieve its strategic objectives. The principles applying to external loans are as
follows:
- Council, following recommendation from Planning
and Resources Committee, recommends all borrowings to the Treasurer for approval;
- Borrowings must be in Australian currency and
undertaken in Australia;
- Borrowings will generally be from Queensland
Treasury Corporation (QTC), with any guarantee or conditions being approved by the Treasurer;
- Funds required to meet borrowing repayments are
to be provided for in the triennial budget and commitments are to be recorded in the University's
Financial Statements;
- The University's minimum liquidity level
is to be maintained at all times; and
- Total borrowings should be a mixture of
fixed and floating interest rates wherever practicable.
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3.4.2 Government funding programs
QUT has a number of loan arrangements through Government funding programs (eg Smart State Research
Facilities Fund, State Borrowing Program for Universities) which adhere to the borrowing principles
listed above. Specific terms and conditions relating to these loans are available from the Director, Corporate Finance.
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3.4.3 Loans
Loans or financing transactions include:
-
funding required for associated entities to further research, to further the University's
commercial interests and to commercialise intellectual property; and
-
draw down of the University's cash reserves to support the Asset Management Program.
The following principles apply to loans:
- Council, on the recommendation of Planning
and Resources Committee, approves each loan;
- All loans are approved within the context of
the approved Consolidated Budget and Asset Management Plan;
- All loans are made repayable on demand.
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Modification History
|
Date |
Sections |
Source |
Details |
19.06.08 |
All |
Acting Executive Director, Finance and Resource Planning |
Policy reviewed – no change required |
|
14.12.05 |
All |
Council |
New policy (endorsed by Planning and Resources Committee 14.11.05) |
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