FMPM 830 Budgets

Intent

To set out the requirements regarding the preparation, approval and monitoring of budgets within the University.

Scope

Definitions

Budget

Policy

Requirements

Each year the Deputy Vice Chancellor, Services and Resources and Chief Financial Officer are responsible for preparing a triennium budget, covering all sources of funding to the University.

The triennium budget must include an income and expense statement, balance sheet, cashflow statement and capital and infrastructure plan.

The triennium budget must be consistent with the University’s planning requirements established under the Planning and Performance Framework.

The Vice Chancellor is responsible for recommending the triennium budget to Finance Committee and Council.

Finance Committee is responsible for reviewing the triennium budget, recommending the triennium budget to Council for adoption, and monitoring actual performance against the Council approved budget.

Each year Council must adopt a triennium budget for all funds of the University and control the expenditure of the University so that it conforms as nearly as practicable to the approved budget.

The relevant member of the Senior Executive has responsibility for management of Divisional budgets.

A revised budget for the current budget year may be prepared by the Deputy Vice Chancellor, Services and Resources and Chief Financial Officer, during a budget year. Council approve any budget amendments upon recommendation from the Vice Chancellor and Finance Committee.

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

Administration

NOTE: Printed copies of this policy are uncontrolled, and currency can only be assured at the time of printing.

Approval Details

Revision History