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Expenditure of University funds

Under the Public Finance and Audit Act and the Higher Education Funding Act, the University is accountable for the application of University funds. These funds include all income funds received by the University (including consulting fees, research grants and all other special purpose funds). University funds may only be used for University purposes, that is, teaching and research or functions supporting teaching and research.

The following examples are given as a guide to enable accounting officers to determine appropriate expenditure. Some examples of non-salary expenditure for which University funds may be used include:

  • Purchase, upgrade or maintenance of equipment which remains the property of the University
  • Official travel and entertaining including approved Outside Studies Program (OSP) travel
  • Rental of equipment to be used for University purposes (for example when there are insufficient funds to purchase required equipment or there is only a temporary need for the equipment)

In all cases, the accounting officer is responsible for the exercise of due economy when authorising such expenditure and must follow the University's purchasing policies for procurement.

University funds may not be used for expenditure of a private or personal nature. Examples of expenditure for which University funds may not be used are:

  • Private travel (including the cost of travel of spouse not on approved University business)
  • Private entertaining
  • Purchase, upgrade or maintenance of equipment or consumables, whose ownership will reside with an employee.

The accrual accounting process is undertaken by the Office of Financial Services after the completion of the University's financial year which is 31 December.



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