Financial Management Practice Manual

POLICY 310 - LOANS

Function	Responsibility of
Approval of a student loan	Director, Student Services and Administration and other officers as determined by the Student Loans Policy and Procedures
Approval of a remuneration loan	Remuneration and Human Resources Committee
Approval of any other loan	Finance Committee
Issuance of a loan	Executive Director, Finance & Resource Planning
Collection of a loan	Executive Director, Finance & Resource Planning

A loan by the University to any individual or organisation other than a remuneration loan or a student loan must be fully secured.
For student loans, a guarantor is required for all loans in excess of an amount as determined by the Student Loans Policy and Procedures, and for all loans to commencing students (refer to Student Loans Policy and Procedures ).
For each loan, a contract must be executed between the University and the recipient of the loan detailing the terms and conditions of the loan.
Any variation to the terms and conditions of a loan must be subject to the approval of: either the Director, Student Services and Administration or other officers as determined by the Student Loans Policy and Procedures for student loans, the Remuneration and Human Resources Committee for remuneration loans, or the Finance Committee for all other loans.
The writing off of a loan must be in accordance with the FMPM Policy 920 – Losses.
Cost effective procedures must be employed to ensure collection of all loans occurs in accordance with the terms of the loan contracts. Such procedures include due legal process.

For enquiries in relation to this Finance Committee Directive please contact susan.kinobe@jcu.edu.au

Approval Details

Policy sponsor:	Executive Director, Finance & Resource Planning
Approval authority:	Directive – Finance Committee
Version no:	08 - 1
Date for next review:	24/11/2013

Modification History