FMPM 830 Budgets
To set out the requirements regarding the preparation, approval and monitoring of budgets within the University.
Preparation of a triennium budget and revised budget
Deputy Vice Chancellor, Services and Resources and
Director, Financial and Business Services
Recommendation of triennium budget and revised budget to Finance Committee and Council
Review and recommendation of triennium budget and revised budget to Council
Approval of triennium budget and revised budget
Refer to Financial Delegations Register
Monitor actual performance against budget
Control expenditure in accordance with budget
Responsibility for management of Divisional budgets
Relevant member of the Senior Executive
Each year the Deputy Vice Chancellor, Services and Resources and Director, Financial and Business Services 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 Management Policy .
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 Director, Financial and Business Services, during a budget year. Council approve any budget amendments upon recommendation from the Vice Chancellor and Finance Committee.
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NOTE: Printed copies of this policy are uncontrolled, and currency can only be assured at the time of printing.
Deputy Vice Chancellor, Services and Resources
Date for next review
NOTE: A minor amendment will not result in a change of the next major review date.
Approval date - the date the approval authority approved the establishment, minor or major amendment or disestablishment
Implementation Date - the date the policy was published in the Policy Library and is the date the policy takes effect
|17-2||07/12/2017||07/12/2017||Minor amendment to align with current organisation structure||Quality, Standards and Policy|
Minor amendments to align with current organisation structure and current delegation practice
Quality, Standards and Policy
Policy Sponsor and Approval Authority updated to reflect the approved Policy and Delegations Framework
Quality Standards and Policy Unit
Finance Committee (06/11)
There are no related procedures.
There are no other related documents.