FMPM 260 Other Advances

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Intent

To set out the requirements regarding the approval, acquittal and management of other advances.

Scope

Function

Responsibility of

Approval of other advance, including conditions and terms

Financial Delegate

Acquittal of other advance

Recipient of other advance

Management of other advances

Financial Delegate

Definitions

Accountable-Advance/Acquittal

Policy

Requirements

  • The purpose of the advance must relate solely to the objectives of the University.

  • Another advance to any one recipient for any one purpose must not exceed the limit as approved by the Director, Financial and Business Services.

  • The terms and conditions of the advance, including the manner and timing for its acquittal must be approved by the Financial Delegate and accepted in writing by the recipient prior to the issuance of an advance.

  • An advance, made to another institution as the result of a condition of a grant received by the University, must be consistent with the conditions of the grant and must be acquitted in accordance with the terms of the grant agreement with the funding body.

  • The recipient is responsible for fully acquitting their advance, either 28 days after completion of the stated purpose of the advance or after full expenditure of the advance whichever occurs first.

  • If an advance is not utilised according to accepted terms and conditions it must be returned within 28 days to the Director, Financial and Business Services.

  • A new advance must not be issued to an individual or organisation that has a previous advance outstanding past the acquittal deadline, unless approved by the Director, Financial and Business Services.

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

Administration

Approval Details

Policy Sponsor

Deputy Vice Chancellor, Services and Resources

Approval Authority

Finance Committee

Date for next review

08/2016

Revision History

Version

Approval date

Implementation date

Details

Author

15-01

09/09/2015

10/09/2015

Policy Sponsor and Approval Authority updated to reflect the approved Policy and Delegations Framework

Quality Standards and Policy Unit

11-01

18/08/2011

18/08/2011

Finance Committee (06/11)


04-01

07/2004

07/2004



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