Policy Financial Management Assets (FMPM 200 - FMPM 399) FMPM 280 Official Stores

FMPM 280 Official Stores


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Intent

To set out the requirements for administration and the operations of an official store.

Scope

Function

Responsibility of

Designation of an official store

Chief Financial Officer

Appointment of Custodian

Head of Organisational Unit

Management of an official store

Custodian

Purchase of an inventory item

Financial Delegate

Maintenance of a register of official stores

Chief Financial Officer

Definitions

Inventory

Official Store

Policy

  • The Chief Financial Officer may designate an inventory as an official store in accordance with the limit set in FMPM 281: Authorised Limits - Official Stores;

  • The Head of Organisational Unit will appoint a Custodian who is responsible for the management and safe custody of the official store;

  • The designated Custodian of an official store must be an employee of the University;

  • The purchase of store items must be in accordance with the FMPM 710: Policy - Purchasing;

  • A register of official stores must be maintained detailing:

    • the name and position of the Custodian;

    • the location of the official store; and

    • a description of the general nature of the items held in the official store.

A stock shortage must be dealt with in accordance with the FMPM 920: Policy - Losses.

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

Administration

Approval Details

Policy Sponsor

Deputy Vice Chancellor, Services and Resources

Approval Authority

Finance Committee

Date for next review

11/2016

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

22/11/2011

24/11/2011

  

10-01

16/11/2010

22/11/2010

  

01-01

12/2001

12/2001