Â鶹Éçmadou

1. Responsible and ethical financial management

Those who spend Â鶹Éçmadou’s funds and manage its finances will:

• ensure efficient, effective and ethical use of public money
• minimise environmental and social harm associated with purchases, procurement and travel, and look for opportunities to make a positive environmental and social impact
• influence suppliers and organisations in which Â鶹Éçmadou invests to improve environmental and social responsibility and sustainable practices
• manage Â鶹Éçmadou’s financial investments responsibly and ethically, and
• keep records so that their decisions and transactions can be audited and demonstrate compliance with the Recordkeeping Policy.

2.ÌýÌýÌý Financial authority and accountability

2.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý All financial commitments and expenditure must be approved by a financial delegate authorised in the Register of Delegations.

2.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Each financial commitment or expenditure must be from an approved budget or funding source.

3.ÌýÌýÌý Accounting and financial reporting

3.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý The Director, Financial Control and Compliance will maintain the Â鶹Éçmadou Accounting Standard to ensure that Â鶹Éçmadou complies with legal requirements, the Australian Accounting Standards and relevant guidelines.

3.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý General purpose financial statements will be prepared following the Conceptual Framework for Financial Reporting issued by the Australian Accounting Standards Board (AASB).

4.ÌýÌýÌý Accounts Receivable

Â鶹Éçmadou ensures the efficient and effective:

4.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Billing and receipting of all funds paid to Â鶹Éçmadou.

4.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Management, collection and processing of any debt owing to Â鶹Éçmadou.

4.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Refund assessment and facilitation.

4.4.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Tracking of bad debts and debt write-offs.

5.ÌýÌýÌý Business expenses

All Â鶹Éçmadou business expenses must be:

5.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Necessary to perform a valid business purpose fulfilling the mission of Â鶹Éçmadou.

5.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Reasonable, not excessive, and reflects a prudent decision to incur the expense.

5.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Appropriate to the context of the business purpose.

5.4.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Allowable under any relevant legislation, contract, or Â鶹Éçmadou policy.

6.ÌýÌýÌý Procurement

When making procurement decisions, staff will ensure that:

6.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Â鶹Éçmadou will receive value for money across the life of the product or service.

6.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Goods, services, infrastructure, and works are fit for purpose.

6.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Risks of a good, service, infrastructure or work are assessed and managed.

6.4.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Products and services are socially responsible, sustainable, and ethically sourced.

6.5.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Decisions are informed by comprehensive and unbiased evaluations.

6.6.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý There is appropriate segregation of duties. The person who approves expenditure or signs a contract is not the person who obtained quotes for, evaluated proposals for, or negotiated the contract for the expenditure/contract.

6.7.Ìý ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýWhen procuring goods and services for Â鶹Éçmadou Defence contracts and research agreements the requirements of this policy (Â鶹Éçmadou Finance Policy) and the Ìýare followed.

7.ÌýÌýÌý Travel

7.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Â鶹Éçmadou will protect the health and wellbeing of Â鶹Éçmadou travellers.

7.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Travel must be essential and planned to benefit both Â鶹Éçmadou and the traveller.

7.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Â鶹Éçmadou provides a travel booking system that ensures bookings are equitable and standardised.Ìý

7.4.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Travel must be approved by financial delegates who ensure efficient use of resources.

7.5.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Â鶹Éçmadou travellers should select travel modes, routes and service providers that minimise environmental, including climate impact.

8.ÌýÌýÌý Financial planning

8.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Â鶹Éçmadou’s key objectives for financial management are to optimise the generation and use of scarce resources, steer those resources into activities of high strategic value, and ensure Â鶹Éçmadou maintains a financially sustainable position. This is achieved through:

• Development of short-, medium- and long-term financial estimates that inform and align with strategic plans.
• Development and management of an annual budget and rolling three-year financial plans linked to annual operating planning processes.
• Regular forecasts and management reporting that focuses on the key indicators of financial health.

8.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý The Director, Financial Planning & Analysis maintains a that provides the approach to financial management reporting at Â鶹Éçmadou.

9.ÌýÌýÌý Investment

Â鶹Éçmadou manages its financial investments in an ethical and responsible manner. In conducting its investment activities, Â鶹Éçmadou:

9.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Expects its fund managers to exert influence over and encourage the organisations they invest in to operate ethically, responsibly, and in a manner that contributes to a sustainable and better world.

9.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Believes environmental, social, and corporate governance factors can impact investment risk and returns and contribute to sustainable growth.

9.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Recognises that climate change is impacting the environment, communities, and the economy and in response is implementing a climate change strategy for investments, consistent with the Environmental Sustainability Plan approved by the Â鶹Éçmadou Council.

9.4.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Will not invest - directly or indirectly - in any sector, industry, or product excluded by resolution of the Â鶹Éçmadou Council.

10. Treasury

10.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Treasury activities and the associated risks are managed in a clear, prudent, cost-effective and comprehensive manner, to reflect the needs of stakeholders and align with Â鶹Éçmadou strategic objectives.

10.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý A Treasury standard is established under this policy to provide the quality requirements and expectations that guide the management of the treasury function, in relation to treasury risks.

10.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý The Director, Treasury, Investments & Insurance maintains the to state the detailed processes and reporting required by the Treasury function.

11. Compliance with this policy

11.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Where a person breaches this policy (including requirements in its procedures section), Â鶹Éçmadou may take disciplinary action under the relevant Enterprise Agreement, seek reimbursement, withdraw a financial delegation or cancel the person’s Â鶹Éçmadou credit card.

11.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Â鶹Éçmadou Finance will actively monitor compliance with this policy and related procedures and will escalate serious instances in accordance with the . Where non-compliance is suspected to be intentional, it will be escalated to Internal Audit for further investigation and may be reported to the Independent Commission Against Corruption.

11.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Where a person suspects that serious wrongdoing has occurred including, corrupt conduct, serious maladministration and/or a serious and substantial waste of public money, they must report this in accordance with the Public Interest Disclosure (Whistleblowing) Policy and Procedure.

11.4.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Internal Audit conducts periodic audits of compliance with this policy.

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1.ÌýÌýÌý Operational Finance responsibilities

• The creation and maintenance of customers in NewSouth Financials (NSF)
• Raise credit notes for faculties and divisions
• Process refunds
• Manage debt collections, doubtful debts and debt write-offs
• Assist with Auditor enquiries
• Banking and receipting, including unallocated receipts
• Daily bank reconciliations

2.ÌýÌýÌý Creation and maintenance of customers

2.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Â鶹Éçmadou billers complete the Customer Request form in NSF (if no customer records exists) and provide the following information:

• Customer details – trading name and ABN
  
• Customer contact details – contact name, fax, phone number and email
• Customer business and billing address

2.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Accounts Receivable will create the customer account within 48 hours of the request providing all information is complete. A notification email will be sent to the requestor confirming the details of the new customer account.

2.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý A request for an existing customer will be rejected and the requestor will be notified.

2.4.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý To amend a customer record, email Accounts Receivable (arhelp@unsw.edu.au).

3.ÌýÌýÌý ÌýInvoice processing and requirements

3.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Bills can be raised by Â鶹Éçmadou billers and Finance Hub staff only.

3.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý An invoice request will include:

• description of the goods/services being billed
• the chart fields where the revenue will be allocated such as account code, fund code, department ID and project ID
• amount to be billed including information if GST inclusive or exclusive, and
• customer information such as name, email address and contact number.

3.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Invoices are not raised for internal charges. A manual journal is raised for these transactions.

3.4.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý See for further information about invoice requests.

3.5.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý If invoice requests have incomplete information, the request will be rejected and returned.

3.6.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Finance Hubs process invoice requests in NSF within 48 hours. Finance Hubs will email an invoice copy and notification to the requestor.

4.ÌýÌýÌý Credit notes

4.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Credit notes are centrally managed by the Accounts Receivable team except at Â鶹Éçmadou Canberra. Credit notes are issued for a variety of reasons, for more information see the .

4.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Approved forms are submitted to Accounts Receivable at: arhelp@unsw.edu.au. If incomplete, the request will be rejected and returned to the requestor.

4.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Credit note requests are reviewed and processed monthly. The cut off for receiving credit note requests is mid-month. Requests are then reviewed by Accounts Receivable and sent to the CFO or delegate to approve. Once approved, the Accounts Receivable team will raise the credit notes in NSF.

4.4.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý A notification will be sent to the requestor via email.

5.ÌýÌýÌý Payment refunds

Sundry refunds

5.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Accounts Receivable are responsible for managing payment refunds. Refunds are initiated by completing a Payment Request form (PR1) which are signed and then approved by the appropriate financial delegate and sent to arhelp@unsw.edu.au for processing. The requestor and approver cannot be the same person.

Student refunds

5.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý The Student Financials team in Student Lifecycle administers student refunds.Ìý

6.ÌýÌýÌý Management of debt collections

Sundry debt

6.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Sundry debts are all outstanding invoices raised to non-student related customers.

6.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Every day the Accounts Receivable team review the outstanding debts based on the age of the invoice. If the debts are overdue, they will send:

a)ÌýÌýÌýÌý a first reminder to the biller/customer to follow up on payments

b)ÌýÌýÌýÌý a second reminder 15 days later notifying the customer that payment is due immediately

c)ÌýÌýÌýÌý a notification to the requestor/biller from the faculty or division that a final demand letter will be sent to the customer if the debt remains unsettled 15 days after the second reminder is sent

d)ÌýÌýÌýÌý a final demand letter is sent

Sponsor debt

6.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Sponsor debt is all debt relating to sponsored student debtor accounts.

6.4.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Accounts Receivable will send an invoice and supporting documents to the address nominated by the sponsor approximately one week after the relevant census date. After this the following action will be taken:

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6.5.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Accounts Receivable is the main point of contact for any sponsored student related debt account and recovery issues and will make all reasonable attempts to recover the debt.

6.6.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý If unable to recover the debt, confirmation from the International Office is sought before the debt is forwarded for approval to write off the debt.

6.7.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Once approved, Accounts Receivable will process the write off in the Student Information Management System (SiMs).

Student debt

6.8.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Student debt is all debt relating to Â鶹Éçmadou student fees and charges for each term.

6.9.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Any student account that is overdue 3 days after the relevant census date is considered an overdue account. The overdue reminder email provides students with a three-week period in which to settle their outstanding debt. If the outstanding debt is not cleared within that 3-week period, a final notice is sent to the student via their student email address. The final notice gives the student a further three weeks to clear the outstanding debt.

Bad debt write off

6.10.ÌýÌýÌýÌýÌýÌýÌýÌý After all attempts to recover a debt have been exhausted, Accounts Receivable will seek approval from the relevant delegate (see the Register of Delegations) to write off the debt.

6.11.ÌýÌýÌýÌýÌýÌýÌýÌý The debt will be ‘written off’ in SiMs and a block placed on the account. Should the debtor contact us again in the future the block will be removed and the debt reinstated.Ìý

7.ÌýÌýÌý Payment remittance advice

7.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý All customer(s)/payer(s) should send remittance advice to finops@unsw.edu.au to prevent payment delays and receipting errors.

7.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý All sundry related payments should be paid to Â鶹Éçmadou accounts receivable bank account only in relation to the remittances.

8.ÌýÌýÌý Unallocated receipts

8.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý If payment details are not available on the direct deposits made to Â鶹Éçmadou bank accounts by the end of the business day, funds will be receipted to the unallocated monies account.

8.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Accounts Receivable will investigate and look for the required information. Once the appropriate information is available, funds will be allocated to an invoice, or a new invoice will be issued to allocate the monies.

8.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Any unallocated monies for more than a year will be transferred to Other Miscellaneous Income.Ìý

9.ÌýÌýÌý Provision for doubtful debts

9.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Accounts Receivable is responsible for reviewing the aged debtors at the end of each month.Ìý The current provision percentages can be found on the .

9.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Annually the Accounts Receivable Team Lead and Manager Operations & Continuous Improvement in conjunction with Financial Control & Compliance review the provision percentage for each aging bracket.

10.ÌýÌýÌý Bad debt write off

10.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Business units do not have the authority to approve bad debt write-offs. However, they are required to recommend the write off to the relevant delegate (see the Register of Delegations).

10.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý One of the following conditions should be met before a debt will be written off:

• Where the debtor has moved address and all attempts to locate them have failed (applicable only for student debts).
  
• When it is uneconomical to finalise recovery action due to the relatively small value of the debt and/or the potential cost of recovery is more than the initial debt.
• Where the debtor is bankrupt, in receivership or in liquidation, the debt is written off until such time as funds may become available.
• Where legal proceedings through the courts have proved, or on legal advice would prove, unsuccessful.

11. Banking and receipting

11.1.ÌýÌýÌýÌýÌýÌýÌýÌý The Accounts Receivable team is responsible for ensuring that:

• all funds received in Â鶹Éçmadou bank accounts are correctly accounted for in Xetta and the Accounts Receivable sub ledger, or
• that unallocated monies are accounted for (see section 8).

11.2.ÌýÌýÌýÌýÌýÌýÌýÌý The following are the payment options at Â鶹Éçmadou:

• Direct Deposit
• Cashless payments e.g.Ìý credit cards, EFTPOS, Webpay and BPay
• Western Union
• ChequesÌý
• Cash – this is not a preferred method. For enquiries contact the Accounts Receivable team: arhelp@unsw.edu.au

12. ÌýBank charges and foreign exchange gains and losses

12.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Bank charges that arise through the settlement of sundry debtor are charged to the business unit.

12.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Foreign exchange gains and losses that arise from settlement of a sundry debtor are charged centrally.

13. ÌýManagement of credit card data

13.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý No credit card payments will be received over the phone and credit card payment authorisation forms are not accepted.

13.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Any request for credit card refunds will be refunded back to the originating card. Any exceptions must be considered by the Accounts Receivable Team Lead.

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This procedure applies to all financial commitments and expenditure incurred by Â鶹Éçmadou.

The requirements for responsible and ethical management of funds are set out in this policy. Individuals who spend funds of grants from external bodies or similar must comply with the terms and conditions of the grant. Where the terms of the external grant and Â鶹Éçmadou’s policies and procedures are inconsistent, the terms of the external grant prevail to the extent of the inconsistency.

A member of the ULT may approve an exception to sections 5.4, 7.1 and 8.Ìý

1.ÌýÌýÌý Expense requirements

1.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Expenses must be approved by the one-up supervisor of the employee or that person’s one-up supervisor with the appropriate financial delegation, objectivity and independence.

1.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý The approver must understand the details of the expense and this policy to ensure that the expense is appropriate and consistent with the principles of this policy and any other relevant Â鶹Éçmadou policy document.

1.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Tax invoices/receipts/approvals must be attached electronically in Concur or NSF.ÌýA must be completed if a receipt is lost or unable to be obtained.

1.4.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý There must be segregation of duties between the individual purchasing the good or service and the approver. Expenses cannot be self-approved.Ìý

1.5.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Expenses for goods or services provided by one of Â鶹Éçmadou’s controlled entities require the same level of scrutiny and independent judgement as expenses for goods and services provided by any third party. Delegations stated in the Register of Delegation still apply.

1.6.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý There are no exceptions to the delegations stated in the Register of Delegations.

1.7.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý If a staff member has a conflict of interest (actual, potential, or perceived) in proposing or approving a financial commitment or expenditure, they must refer to the .

2.ÌýÌýÌý Entertainment of staff members

2.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý All entertainment expenses relating to food and drinks should be reasonable and for legitimate Â鶹Éçmadou business purposes.Ìý

2.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Excessive expenditure on wine and other alcohol is not considered reasonable.

2.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý The most senior member of staff must pay the bill (except if they are an invited guest).

2.4.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Personal-related celebrations are private expenses that are not funded by Â鶹Éçmadou.

2.5.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Entertainment of family and friends is not allowed, except for formal Â鶹Éçmadou Sydney and Â鶹Éçmadou Canberra arranged events (such as the annual Â鶹Éçmadou community day, Town and Gown Dinner).

2.6.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý To avoid incurring additional Fringe Benefits Tax (FBT) costs to Â鶹Éçmadou, the names and zIDs of the attendees must be listed and attached to the expense claim (either in NSF or Concur) for FBT purposes.

2.7.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Tipping is discouraged in Australia.

3.ÌýÌýÌý Entertainment (where non-Â鶹Éçmadou parties are involved)

3.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý All entertainment expenses relating to food and drinks should be reasonable and for legitimate Â鶹Éçmadou business reasons. A ULT member may approve an exception for high-status guests.

3.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Excessive expenditure on wine and other alcohol is not reasonable.

3.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý The most senior member of staff must pay the bill (except if they are an invited guest).

3.4.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý To avoid incurring additional FBT costs to the Â鶹Éçmadou, the names and zIDs (Â鶹Éçmadou staff) of the attendees must be listed and attached to the expense claim (either in NSF or Concur) for FBT purposes.

3.5.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Tipping is discouraged in Australia.

4.ÌýÌýÌý Donations and sponsorships

4.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Â鶹Éçmadou funds cannot be used to make a donation, unless approved by the Vice-Chancellor.

4.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý The Vice-President, Societal Impact, Equity and Engagement must grant permission for sponsorships, which are otherwise not allowable or appropriate. This does not apply to sponsorships which form part of the normal activities of researchers attending conferences.

5.ÌýÌýÌý Gifts and rewards

5.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý This sub-section does not apply to prizes: see the Prizes Procedure for requirements in relation to prizes.

5.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Gifts and rewards are allowed for legitimate Â鶹Éçmadou business reasons.

5.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý External (3^rd party) gifts: staff are permitted to purchase a gift that is reasonable, appropriate and allowable.

5.4.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý For internal gifts and rewards to a staff member or student:

• Staff can purchase gifts for departing employees (leaving following resignation, retirement, redundancy, and similar) with over 5 years of service, that are reasonable, appropriate and allowable.
  
• Gift cards may be purchased to reward a staff member or student for exceptional performance or contribution. Such gifts/rewards cannot be cash. Gift cards purchased as gifts must be treated like cash and recorded in a gift card register.
• No gifts are permitted for non-work-related reasons, such as birthdays, marriages, births, condolences, etc., unless self-funded.
• Staff may buy gifts and other rewards (such as gift cards) for participants in research.Ìý

6.ÌýÌýÌý Travel

Refer to section 5, the Travel procedure, for travel expenses.

7.ÌýÌýÌý IT hardware and software

7.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý IT hardware such as laptops and desktop computers must be obtained through Â鶹Éçmadou IT. See the .

7.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Before purchasing software, staff must check with Â鶹Éçmadou IT whether licensing agreements are in place between Â鶹Éçmadou and the provider.

8.ÌýÌýÌý Work from home equipment

Â鶹Éçmadou expenditure for home office equipment and consumables (both IT and non-IT) is not permitted.

9.ÌýÌýÌýÌý Non-compliance

Non-compliance may result in disciplinary action and potentially a requirement for repayment by the employee or individual. Â鶹Éçmadou Finance monitors compliance, with significant cases assessed in accordance with the .

Ìý

Ìý

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1.ÌýÌýÌý Eligibility for a credit card

1.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Â鶹Éçmadou may issue a credit card to an applicant who:

• is a continuing or fixed term employee of Â鶹Éçmadou
  
• is eligible for a financial delegation and acts in compliance with the Register of Delegations
• needs to make purchases as part of their role and responsibilities, and
• agrees to the conditions of use stated on the credit card application form, and to comply with this Finance policy and all other relevant Â鶹Éçmadou policies.

1.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý The staff member whose name appears on the credit card is the card holder.

1.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Card holders must complete the .

1.4.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Card holders are accountable for their expenditure. (See section 2 for requirements). Ìý

2.ÌýÌýÌý Using Â鶹Éçmadou credit cards

2.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý All expenses must be for legitimate Â鶹Éçmadou purposes and be necessary, reasonable, appropriate, and allowable in the circumstances and publicly defensible as would be expected from a public university. Credit cards should never be used for private expenditure. Restrictions outlined in this policy apply to credit card expenditure and a list of acceptable uses can be found on the If a credit card is used for a private expenditure in error, the amount must be repaid within the monthly reconciliation timeframe.

2.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Credit card spend limits will be set according to the Register of Delegations and align with business requirements for a role.

2.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Card holders are responsible for keeping their credit card safe.

2.4.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Intentional misuse is a breach of trust.

2.5.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Â鶹Éçmadou Credit cards should not be used for flights or accommodation where they can be arranged via the Â鶹Éçmadou travel provider. ÌýÌý

2.6.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Credit card users will obtain original receipts or tax invoices (a photograph is acceptable for reconciliation) for all transactions, or the expenditure may be treated as private expenditure.ÌýA must be completed if a receipt is lost or unable to be obtained.

2.7.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Transactions cannot be split to avoid financial expenditure limits stated in the Register of Delegations.

2.8.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý The card holder is responsible for resolving disputed credit card transactions with the bank or merchant within 28 days.

3.ÌýÌýÌý Credit card reconciliation and monitoring

3.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Â鶹Éçmadou credit cards must be reconciled within 30 days after the end of each calendar month.

3.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý The card supervisor must complete the approval process within 21 days of the card reconciliation.

3.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Â鶹Éçmadou Finance will monitor unreconciled and unapproved credit card expenditure.

3.4.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Card holders who consistently fail to meet the reconciliation and approval requirements will be escalated to the CFO.

3.5.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Exception reports will highlight expenditure that is not compliant with policy. Faculties and divisions must respond to significant non-compliance within 5 working days.Ìý

1.ÌýÌýÌý Role of Procurement

The Procurement team in Â鶹Éçmadou Finance:

• advises staff involved in procurement to ensure they meet the principles of this policy, such as value for money (see policy section 6)Ìý
  
• manages the engagement of contracts with suppliers that total $350,000 or more
• maintain guidelines on how to seek quotes
• assist staff with sustainable procurement guidance and practices, and
• may require staff undertaking a high-profile, complex or high-value procurement project to involve a probity adviser

2.ÌýÌýÌý Criteria for procurement decisions: Guided Buying Reference

Procurement decisions must be made in accordance with the approach and requirements set out in the :

2.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Once a commitment has been made, the staff member managing the procurement will raise the purchase requisition and place the order.

2.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Only the relevant financial delegate can approve an exemption for the requirement of at least three quotes for procurement transactions that total at least $50,000 but less than $350,000.

2.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Procurement may also decide to guide the procurement process in any procurement activity, regardless of value, that:

• involves identified risks
• is of strategic importance
• may receive negative media coverage, or
• may involve significant environmental or social risks.

3.ÌýÌýÌý Â鶹Éçmadou enterprise and panel suppliers

3.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý To streamline procurement and ensure Â鶹Éçmadou obtains maximum value for money, suppliers may be assessed and approved by Procurement as an enterprise supplier or panel supplier.

3.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý An enterprise supplier is established by Procurement.

3.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý A panel supplier is established by Procurement.

3.4.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Any other supplier, is considered a specific-use supplier and may be established by the Procurement team or any staff member.

3.5.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Â鶹Éçmadou staff may use goods and services supplied to other third party organisations such a state and federal government panels, university consortia or higher education cooperative agreements (known as piggyback suppliers) in accordance with the method of engagement specified in section 8 of the Procurement Manual.

3.6.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Unless the Procurement team has approved a piggyback supplier as an enterprise or panel supplier, Â鶹Éçmadou staff are to follow the thresholds of $5,000 - >$350,000 outlined within the .ÌýÌý

.

4.ÌýÌýÌý Payment terms

4.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Â鶹Éçmadou complies with agreed payment terms and seeks to take advantage of discounts for prompt payment.

4.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Â鶹Éçmadou’s default payment term is 30 days after the end of the month in which the invoice is received. Where a supplier’s standard payment terms are less than this, a longer payment term should be negotiated if possible.

4.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Â鶹Éçmadou’s default payment terms for building and construction under the Building and Construction Industry Security of Payment Act 1999 (NSW) are 15 days from receipt of invoice.

4.4.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Payment in advance for a retainer or Â鶹Éçmadou’s default payment terms for building and construction under the Building and Construction Industry Security of Payment Act 1999 (NSW) are 15 days from receipt of invoice.

4.5.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý If no payment term is specified on the invoice, Â鶹Éçmadou shall pay within 30 days of the end of the month in which the vendors invoice is received. Any exceptions to the standard payment terms must be requested through the team with an appropriate justification provided for an assessment to be conducted.

5.ÌýÌýÌý Sourcing requirements

5.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Staff involved in procurement other than via the Procurement online system will:

• use the templates, maintained by Procurement,
• follow the templates’ instructions for their use, and
• use Tender Boxes, (Tenderlink) and mandated for use >$350k.

5.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Any variation to a standard template for a contract with a supplier or service provider must have been approved by the Â鶹Éçmadou Legal team.

5.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý In making procurement decisions, staff must apply the principles of this policy. The Procurement Manual states detailed requirements for, and provides guidance on, doing this.

5.4.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Where risk assessment of a good, service, infrastructure or work identifies significant risk, the staff procuring it will develop and implement a risk management plan (see sub-section 7).

5.5.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Staff who have established a contract with a new supplier or service provider will:

• monitor the supplier’s/service provider’s performance to check that they are meeting the contract terms and conditions, and
• maintain records of this monitoring within RAMS or an approved System of Record.

6.ÌýÌýÌý Unsolicited proposal

6.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Where a staff member receives an unsolicited proposal, being an offer made to Â鶹Éçmadou outside of a formal tendering process, they must forward it to Procurement (procurement@unsw.edu.au) for review.

6.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Section 15 of the Procurement Manual provides further instructions.

7.ÌýÌýÌý Risk assessment

7.1.ÌýÌý Staff involved in procurement will conduct a risk assessment as part of the evaluation and contracting process. This should identify and address potential risks, ensuring comprehensive risk management and informed decision making.

7.2.ÌýÌý Procurement may require that any proposed supplier or service provider be assessed for approval as satisfactory by the Risk Management or Procurement team, on the basis of a risk assessment, where:

• the supplier/provider is based outside Australia
• the goods, services, infrastructure or works may cause negative media coverage
• a non-standard contract (a contract not approved by Legal) is required
• the goods, services, infrastructure or works, if not fit for purpose, may adversely affect courses, research or staff, or
• the goods or services may pose environmental or social risks in their origin, composition, production or disposal.

8.ÌýÌýÌý Procurement partly funded by Â鶹Éçmadou

Where procurement of goods, services, infrastructure or capital works is jointly funded by Â鶹Éçmadou and another organisation the following applies:

Purpose

Domestic and international travel is essential for some work-related activities of staff and students. Â鶹Éçmadou will support University travellers by providing a safe and equitable travel process

Scope

This procedure applies to all University travellers. This includes travel and travel-related expenses that are paid (in whole or in part) by Â鶹Éçmadou regardless of the source of funds. Sub-sections 1, 2, and 3 of the Business Expense procedureÌýprovide details that may be relevant to your travel expenditure. The University Leadership Team are exempt from sections 2.1, 3.2, 3.5-3.9, and 3.24 and can provide exemption for any section not mandated by tax or safety legislation.Ìý

Travel funded through external grant arrangements must comply with the terms and conditions of the grant. If the terms of the grant are inconsistent with this policy, the terms of the external grant, with respect to travel, will apply with the exception of sub-sections 8.1 and 8.3.

1.ÌýÌýÌý Plan your travel and request pre-approval

Travel should be planned in advance, to avoid the higher cost of airfares and accommodation that may occur with last-minute bookings.

1.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Discuss your travel plan with the manager who approves your travel to confirm that it is:

• essential and beneficial to the functions of Â鶹Éçmadou
  
• within budget and can be arranged at a reasonable cost, and
• unable to be conducted via videoconferencing.

1.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Fill out Pre-Trip Approval in the online travel portal accessed from the website:

• Domestic bookings – the manager who approves your travel will be notified of a domestic booking.
• International bookings – will require approval in the system by the manager who approves your travel.

1.3Ìý Ìý Ìý Ìý Ìý ÌýTravel risk levels of your destination will be assessed in the pre-trip approval process against Department of Foreign Affairs Smart Traveller risk levels and Â鶹Éçmadou risk criteria. Where pre-trip approval identifies a destination as high risk or restrictive, the travel will require approval by both your travel approver and the Director of Risk.

1.4.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Â鶹Éçmadou recognises that additional expenses are often incurred by staff members with disabilities who need adjustments to travel arrangements. The , managed by Human Resources, may cover these expenses.

2.ÌýÌý Book and pay for your travel

2.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý You must book your travel through FCM, the travel management company Â鶹Éçmadou uses, using or a consultant:

• Book with FCM for flights, accommodation, car hire and rail or ferry transfers.
• Contact a consultant for complex bookings and general information and requirements including visa processing.

2.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Flight and accommodation costs will be paid automatically when you book through FCM.

2.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý If your personal travel makes up 50 percent or more of the duration of your trip, you must pay 50 percent of your airfare(s). Refer to sub-section 8 below for more detail. You must book leave for any days of personal travel when you would usually be working. This requirement does not apply to students travelling for unpaid, Â鶹Éçmadou study related activities.

2.4.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý If you need to arrange travel at the last minute because conflict or disaster makes it necessary to change your route, destination or timing of travel you may:

a)ÌýÌýÌýÌýÌýÌý use a Â鶹Éçmadou credit card, or

b)Ìý Ìý Ìý Ìýpay for it independently and seek reimbursement through Concur in line with the Business Expense procedure.Ìý ÌýÌý

Ìý

3.ÌýÌý Travel Expenses

^Airfares

3.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Â鶹Éçmadou acknowledges that air travel has a very high environmental cost footprint, Ìýand this should be taken into account when planning your travel. Where possible you should seek alternative, more environmentally sustainable travel options.

3.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Economy class airfares are allowed for Â鶹Éçmadou business.

3.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Business Class and Premium Economy are restricted to:

• ULT
• where such travel is explicitly mentioned in the traveller’s employment contract, and
• by ULT member approval in exceptional circumstances.

3.4.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý You must take the most direct, environmentally and economically efficient route to/from Â鶹Éçmadou and to/from your travel location. You must not direct the choice of flight or route based on personal preference or private travel needs.

3.5.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý You cannot pay for seat allocation or other pay-for-service airfare add-on options.

3.6.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý You cannot pay for excess luggage unless:

• your business trip requires you to take bulky items, or
• a relocation agreement provides for you to pay for excess luggage.

Airline lounge/club memberships and frequent flyer programs

3.8.Ìý Ìý Ìý Ìý Ìý ÌýAirline lounge memberships are allowable for staff who travel more than 5 flights per year. ÌýMemberships must be for a maximum of 12 months.

Accommodation

3.8.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Reduce the cost to Â鶹Éçmadou when booking accommodation by ensuring you choose a place that will provide an appropriate individual room at the lowest tariff.

3.9.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý The Finance intranet states indicative rates for that are deemed reasonable.

3.10.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Pay for domestic accommodation using a virtual credit card, arranged with Â鶹Éçmadou Travel when you book your travel. For accommodation during international travel, staff must use either a Â鶹Éçmadou credit card or their own personal card (in which case expenses can be reimbursed via Concur in line with the Business Expense procedure).

3.11.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Â鶹Éçmadou funds cannot be used to pay for private accommodation (staying with family/friends), recreational facilities, movies, or room upgrades.

3.12.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý If you are staying in a location longer than 21 days, you must provide evidence that the accommodation was for work purposes. You cannot claim accommodation expenses for more than 90 days in one location per calendar year.

Car hire

3.13.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý You may hire a car if driving is more cost-effective than flights or taxis.

3.14.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Car hire should be arranged through FCM where possible.

3.15.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Staff should rent the most appropriate vehicle consistent with business and safety needs and refuel the car prior to returning to the car hire company.

Ìý

Meals and incidentals (i.e., newspaper, toiletries, tea, coffee, water, laundry, tips, snacks).

3.16.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý You should spend within maximum rates of expenditure for meals and incidental by travel region, which are specified on the . You may pay for meals and incidentals while traveling with:

a)ÌýÌý a Â鶹Éçmadou credit card, or

b)ÌýÌý your own credit card or cash and then request reimbursement of the expense in accordance with the Business Expense procedure.

Mobile phone and data charges

3.17.Ìý Ìý Ìý Ìý ÌýIf you are a Â鶹Éçmadou Optus or Telstra mobile service customer you can arrange international roaming with Mobility at mobility@unsw.edu.au prior to leaving Australia. Data roaming packs for personal phones can be obtained according to IT eligibility guidelines.

Public transport: rail and taxis

3.18.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Please use public transport for business travel wherever possible.

3.19.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý You may use a standard taxi or Uber service where public transport would be unreasonably slow or unsafe.

3.20.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý You may purchase a public transport pass where this is an economical way of using public transport for business purposes.

Parking

3.21.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý You may pay parking fees for work-related parking of less than 24 hours, or for multiple days if the cost is less than that of a standard taxi/Uber fare.

3.22.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Parking fines and infringement notices are considered personal expenses.

3.23.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Â鶹Éçmadou Parking Permits on campus are only for external parties visiting Â鶹Éçmadou on a one-off basis for a maximum of 12 hours and for staff travelling between campuses for work commitments.

Passports and other travel documents

3.24.Ìý Ìý Ìý Ìý Ìý ÌýPassport or travel documents are private expenses that Â鶹Éçmadou will not reimburse, excluding medical reports and police checks if required in the employment agreement.

3.25.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Â鶹Éçmadou may reimburse you for the cost of a medical report, police check or other checks or certificates required for travel on Â鶹Éçmadou business, if the relevant employment agreement provides for this.

3.26.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Visa and visa related expenses for travellers on Â鶹Éçmadou business trips are appropriate and necessary.

Tipping

3.27.ÌýÌýÌýÌýÌýÌýÌýÌý TippingÌýis discouraged in Australia.

3.28.ÌýÌýÌýÌýÌýÌýÌýÌý Tipping at the average/median percentage in other countries is appropriate (up to a maximum of 20%).

4.ÌýÌý Reimbursement of travel-related expenses

4.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Â鶹Éçmadou does not pay per diem allowances.

4.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Meals, taxis or incidentals can be reimbursed if in line with the requirements in this policy.

4.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý You may require a travel cash advance for travel expenses in situations where credit card transactions are unavailable. For this, submit a cash advance claim in Concur at least 7 days before your trip and then:ÌýÌý

• keep all receipts or invoices for travel expenses to demonstrate that you have spent the advance for legitimate purposes, and
• submit the documentation as a reimbursement claim in Concur within 30 days of your return to demonstrate legitimate spending of your cash advance.

You must reimburse Â鶹Éçmadou for any part of the advance for which you cannot provide receipts/invoices to demonstrate legitimate expenditure.

5.ÌýÌý When do I need a Travel Diary?

5.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Tax law requires you to keep a travel diary for any travel that continues for 6 or more nights. This diary must be retained as a Â鶹Éçmadou record for at least 5 years. You, or (if a group is travelling together) the group’s lead traveller must complete a travel diary with FCM, which includes:

• pre-trip – information including any conference itinerary, external information or supporting brochure, and
  
• post trip – submit a revised travel diary or TR5 form within 10 business days after you return.

6.ÌýÌý Insurance

6.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Â鶹Éçmadou’s travel insurance covers staff, students and affiliates who are travelling more than 100km on approved Â鶹Éçmadou business against medical emergencies, evacuation, and damage, loss or theft of luggage (excluding electronic or digital equipment).

6.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý The website gives full details of what this coverage includes.Ìý

7.ÌýÌý Safety

Do not travel when it is not safe to do so. Pre-trip approval will determine your travel risk.

7.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý You will not be required to travel on Â鶹Éçmadou business to a country rated as high risk on the website. If you choose to undertake high risk travel, the travel must have been approved by the Director of Risk before you make bookings. The travel will not be insured without this approval.

7.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Before you undertake a high-risk activity while travelling, check whether it is covered by the Â鶹Éçmadou’s . It you are doing field work, you must follow the requirements of the HS406 Fieldwork Guideline, HS917 Fieldwork Procedure, and HS019 Fieldwork Risk Management Checklist.

8.ÌýÌý Personal payment of travel costs, fringe benefits tax considerations and the use of private vehicles

8.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Private travel is allowed only where it is combined with a business trip and it is merely incidental (less than 50% of the total trip) to the business trip component (refer to the for more detail on what is ‘private’ and ‘business’). Where the private portion is equal to or greater than 50% of the total trip, the private portion is deemed not to be incidental to the trip and becomes subject to FBT. The FBT liability that arises because of your travel (either funded through external grants or internally) must be eliminated by:

a.ÌýÌýÌý Reducing private travel days to less than 50% of the trip duration, or

b.ÌýÌý flight cost contribution:

i)ÌýÌýÌý pay FCM for the entire trip privately and request reimbursement of the business component (50% of the total airfares), or

ii)ÌýÌý pay the private component of the flights’ cost (50% of the total airfares) directly to FCM at the time of booking, or

iii)Ìý if a trip change happens post-departure, repay the private portion of the flights’ cost to Â鶹Éçmadou after completing the trip.

8.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Â鶹Éçmadou does not reimburse travel expenses of an accompanying traveller unless specified in an employment contract or approved by the Vice-Chancellor.

8.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Travel that involves staying more than 21 days continuously in one location or staying for a total of more than 90 days in one location in a calendar year may incur FBT on the accommodation and living expenses.

8.4.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý You should limit the use of a private vehicle for travel on Â鶹Éçmadou business. Â鶹Éçmadou does not generally accept liability for damage, loss or injury arising from use of a private vehicle. Travellers who choose to use a private vehicle must complete the Travel (Approval to Use a Private Vehicle) before they travel to provide justification when practicable to do so and then claim expenses for the use through Concur. Â鶹Éçmadou will only reimburse private vehicle expenses for travel:

• between home and somewhere that is not your regular work location, or
• between locations where you will conduct Â鶹Éçmadou business, neither of which is your home.

9.ÌýÌýÌýÌýÌýÌýÌý Additional information for students

9.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý This Travel procedure applies to student travel for approved Â鶹Éçmadou related activities, domestic and international, such as exchange, fieldwork, practicum, short course, conferences, study tour, volunteer placement and internship undertaken while studying at Â鶹Éçmadou. This includes travel for Arc@Â鶹Éçmadou activities, including those under a Student Community and Development Grant, and activities included in a student’s Australian Higher Education Graduate Statement.

9.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Students planning overseas travel should refer to before making their travel.

9.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Higher degree research candidates can consult the Â鶹Éçmadou HDR Hub’s information on and the scheme.

9.4.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý A Head of School may agree to a student’s claim for reimbursement of travel expenditure where the student has provided receipts or invoices as evidence of the expenditure, subject to requirements for expenditure of Â鶹Éçmadou funds in this procedure.

Ìý

Effective: 1 February 2024Ìý Ìý Ìý Ìý ÌýÌýResponsible: Chief Financial OfficerÌýÌýÌýÌýÌýÌýÌý ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Lead: Travel Service Manager

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Purpose

To provide quality requirements and expectations for the management of the Treasury and Investments (TI) function.

This section covers the management of the following areas of treasury risk:

• Credit
• Short term liquidity
• Funding and refinancing
• Interest rates
• Foreign exchange, and
• ÌýOperational risk relating to treasury activities.

1.ÌýÌýÌý Role of Treasury & Investments

TI is a risk management and service function responsible for managing exposures to market and operational risks listed in the purpose of this standard. TI will:

1.1.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Manage all counterparty credit exposure, from treasury activities to individual financial institutions that TI transacts with, to acceptable levels of credit risk through institution selection, diversification, monitoring, and related decisions. Counterparty credit exposure will be captured across the Â鶹Éçmadou Group.

1.2.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Ensure that Â鶹Éçmadou has the capacity to meet its financial obligations as they fall due.

1.3.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Facilitate the securing of new, or renegotiated, credit facilities to meet financial requirements in a timely manner.

1.4.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Minimise the impact of unfavourable movements in interest rates on Â鶹Éçmadou’s interest income or expenses.

1.5.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý With respect to foreign exchange risk management:

• Identify all material foreign exchange exposures.
  
• Engage with divisions and faculties, schools, departments, research centres and controlled entities to explain the TI role in the identification and management of foreign exchange risks.
• Ensure foreign exchange exposures are tracked, managed and reported in accordance with limits and policies.
• Retain sole responsibility to execute foreign exchange derivative transactions.

1.6.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý When managing operational risk:

• Minimise risk through an appropriate level of internal controls and segregation of duties (taking into consideration the size of the TI function),
• Ensure that well documented procedure manuals are updated and readily available, and
• Ensure that TI applications have adequate disaster recovery procedures documented and in place.

1.7.ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý Not engage in speculative transactions.

2.ÌýÌýÌý Treasury Manual

The states the detailed processes and reporting required by the Treasury function.

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Authority over procedures and instructions

The following Â鶹Éçmadou officers are authorised to maintain and change the procedure sections of this policy in accordance with the Policy Framework Policy:

1. The Chief Financial Officer (CFO) has authority to approve a standard or procedure section of this policy.

2. The Director, Financial Control and Compliance has authority to change the:

• Section 2: Business Expenses procedure, and
• Section 5: Travel procedure.

3. The Director, Operational Finance has the authority to change the:

• Section 1: Accounts Receivable procedure, andÌý
• Section 3: Credit Card procedure.

4. The Director, Procurement has authority to change the

• Section 4: Procurement procedure, and
• Procurement Manual.

5. The Director, Treasury, Investment & Insurance has authority to change the:

• Investment principles
• Section 6: Treasury Standard, and
• Treasury Manual.

Responsibilities

The Finance Investment Sub-committee (ISC) of the Finance and Strategy Committee (FSC) is responsible for:

• the design, monitoring and implementation of the investment principles, and
  
• reporting to the FSC on the objectives of investment funds and their performance, to ensure maximum returns according to agreed risk profiles.

The Director, Treasury, Investment, and Insurance will:

• maintain systems and processes to ensure practice is consistent with the investment principles (policy section)
  
• implement the ISC’s investment decisions, report and address any limit breaches identified within the Treasury Manual, and
• be the designated University Compliance Owner responsible for managing compliance with Â鶹Éçmadou’s legislative obligations in its investment activities (including the resourcing, developing, implementing, and monitoring of internal controls).

The Director, Procurement approves suppliers as Â鶹Éçmadou suppliers or Â鶹Éçmadou panel suppliers.

The Director, Operational Finance may approve processes to support this policy.

Staff with a financial delegation are responsible for ensuring compliance with this policy and will act as the representative making the commitment on behalf of Â鶹Éçmadou.

Legislative compliance

1.ÌýÌýÌýÌýÌýÌý This policy is intended to ensure that Â鶹Éçmadou complies with the:

1.1.ÌýÌýÌýÌýÌý

1.2.ÌýÌýÌýÌýÌý

1.3.ÌýÌýÌýÌýÌý

1.4.ÌýÌýÌýÌýÌý

1.5.ÌýÌýÌýÌýÌý

1.6.ÌýÌýÌýÌýÌý

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