Executive Director, Finance Resource Management
Chief Financial Officer
Date of Next Review
The University is a Statutory Authority pursuant to the Financial Accountability Act 2009 and is subject to the same legislative and policy requirements as applies to other government and semi-governmental agencies. This includes the Act itself and subordinate guidelines, as well as other pronouncements such as the Queensland Procurement Policy. This framework is generally not prescriptive on what can or cannot be charged to the University's accounts except to state that all expenditure must be for official purposes and must not, except in special cases (such as "losses and special payments" as defined) be for private purposes.
The University derives a major part of its funds from the Government, but is increasingly reliant upon its commercial endeavours to support its operational and capital requirements. The University is therefore required to administer its expenditure in a manner which adheres to standards of public sector accountability, but which also supports the flexibility required of an institution operating within a more commercial framework.
Expenditure is to be incurred for official purposes only and, if required, officers must be able to identify the relationship or nexus between the expenses and the official business of the University.
Under no circumstances shall University expenditure be incurred for private purposes (G/5.2).
Prior to committing to the expenditure of money, an appropriately delegated officer must ensure that the expense:
- is an appropriate and reasonable use of University funds
- is subject to available funding
- complies with all applicable legislation
- is able to withstand public scrutiny
- is the most economical and effective outlay for its purpose
- is appropriate for the effective operation of the University
- is to be incurred in line with approved University procedures (eg. Procurement G/5.3).
Expenditure must be able to be supported on the basis of reasonableness and be publicly defensible. Expenditure is to be properly declared and documented.
Ultimate responsibility for the correct expenditure of University funds rests with QUT Council.
Council has delegated authority to the Vice-Chancellor and President to expend funds within approved budget limits and consistent with the University's plans, policies and procedures.
Subject to the availability of funds within approved budget limits, and consistent with the University's plans, policies and procedures, the Vice-Chancellor and President has delegated commitment of various expenditure levels, to senior officers of the University as detailed in the Schedule of Authorities and Delegations (MOPP Appendix 3).
The Vice-Chancellor and President has delegated authority to the Executive Director, Finance Resource Management to approve further delegations below the level of heads of school or equivalent / centre directors / heads of department or independent section.
Further delegations relating to specific expenditure are detailed in the Schedule of Authorities and Delegations (MOPP Appendix 3).
Delegations relating to expenditure associated with business-related hospitality and official functions are detailed in the University's policy on hospitality and catering (G/5.6).
Where applicable, project proposals must be prepared and approved for expenditure on projects and/or business change initiatives in accordance with Chapter 1(C) of the Financial Management Practice and Procedures Manual and the QUT Project Proposal Framework. Proposals are used as the primary supporting documentation for securing University funding and resources through the University's Planning and Budgeting and Capital Management Plan (CMP) process.
MOPP Appendix 3 - Schedule of Authorities and Delegations
Financial Management Practice and Procedures Manual (QUT staff access only)
|10.07.18||All||Vice-Chancellor and President||Revised policy to include department name change from Corporate Finance to Finance Resource Management|
|06.07.14||G/5.1.2||Executive Director, Finance and Resource Planning||Policy revised to reflect the Project Proposal Framework replacing the Business Case Framework|
|14.11.13||All||Executive Director, Finance and Resource Planning||Periodic review - policy revised|
Acting Executive Director, Finance and Resource Planning
Policy reviewed – no change required
|30.11.07||G/5.1.2||Executive Director, Finance and Resource Planning||Revised policy relating to preparation of business cases - effective from 01.01.08 (endorsed by Audit and Risk Management Committee 19.09.07)|
|06.09.05||All||Executive Director, Finance and Resource Planning||Policy updated consistent with Schedule of Authorities and Delegations|
|25.05.04||All||Executive Director, Finance and Resource Planning||Revised policy to clarify statutory requirements (endorsed by Vice-Chancellor's Advisory Committee 20.05.04) and to provide details of delegated authorities relating to expenditure of University funds|
|12.02.04||G/5.1.2||Deputy Vice-Chancellor (Technology, Information and Learning Support)||Added reference to Project Management Framework and Business Case Framework (endorsed by Vice-Chancellor's Advisory Committee 17.07.03)|