Financial Management Practice Manual

FMPM 510: Policy

To identify funds subject to, and the requirements for, internal interest distribution.

Function	Responsibility of
Classification of funds	Director, Financial and Business Services
Credit of interest to funds	Director, Financial and Business Services
Basis of interest distribution	Investment Sub-Committee

In accordance with the provisions of the James Cook University Act 1997, the University must periodically distribute the income of the investment common fund having regard to the share of each component fund (i.e. each restricted fund account) in the investment common fund.
The Director, Financial and Business Services is responsible for the classification of all funds into one of the categories of research, restricted, miscellaneous operating, non-research consultancy, business unit, major project or operating.
No fund (other than restricted funds) will receive a credit for interest unless there is a contractual obligation to do so.
Investment Sub-Committee is responsible for determining the basis of interest distribution (refer FMPM 301: Procedure – Investments).

For enquiries in relation to this FMPM Policy please contact investments@jcu.edu.au.

Policy sponsor:	Executive Director, Finance and Resource Planning
Approval authority:	Finance Committee
Version no:	11-01
Date for next review:	08/2016

Version no.	Approval date	Date notification sent by Approval Authority to policy@jcu.edu.au	Implementation date	Details
11-01	18/08/2011		18/08/2011	Finance Committee (6/11)
03-1	09/2003		09/2003

Susan Kinobe last updated this page on 29 Apr 2013.