Intent

To set out the requirements regarding the establishment and maintenance of an expense management system.

Scope

Expense Management

Definitions

Expense

Prescribed Special Payment

Policy and Procedures

It is the responsibility of the Director, Financial and Business Services to establish and maintain and expense management system (FMPM 710 – 799) which efficiently, effectively and economically manages expenditure:

• The expense management system, including adequate internal controls, must be established and maintained to monitor and ensure:

  • the prompt recognition and recording of expenses in the accounts in a way which allows reporting objectives and accountability requirements to be satisfied;

  • the appropriate recording of expenses arising from consumption, actual loss or as a provision for a probable loss;

  • the appropriate recording of  prescribed special payments;

  • expenses are only incurred for an authorised purpose;

  • that competitive procurement arrangements are in place including those required by the State Procurement Policy;

  • that systems for credit card facilities are consistent with the Treasurer’s guidelines for the use of the Queensland Government corporate purchasing card;

  • that operational responsibility is assigned for the approval and management of expenses in terms of strategic plans and of identifying expenses otherwise occurring or accruing;

  • the timely payment of expenses; and

  • that accounting policies to be applied in the recognition of expenses in the accounts and/or as general disclosures in notes to the financial statements are defined and consistently applied.

• Procedures must be established and documented for these systems.

Related documents, legislation or JCU Statutes

Financial and Performance Management Standard 2009 (Section 19 & 20)

State Procurement Policy (published by the Queensland Government)

Treasurer’s guidelines for the use of the Queensland Government corporate purchasing card

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

Administration

Approval Details

Revision History