FMPM 101 How to Use this Manual

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Intent

To provide the management and staff of the University with an easy to use consolidated reference guide to the financial management practices of the University.

Scope

This procedure applies to all employees and persons acting for, or on behalf of the University, engaged in duties in connection with the financial management of the University, or part thereof, must comply with the Financial Management Practice Manual.

Definitions

Financial Management Practice Manual (FMPM) – reflects the financial practices (systems, policies and procedures) used by the University to manage financial resources.

Procedure

  1. The responsibility for each financial function as stated in the FMPM has been assigned to specific positions.  It is anticipated that in discharging the responsibility, the occupant of the position will allocate duties to personnel within their units, taking into account the requirements of the Financial Delegations.
  2. The delegated officer shall be ultimately held responsible for ensuring that the particular function is performed as assigned to them.
  3. The types of statements contained in the FMPM, their contents and approval levels are summarised as follows:

Type of Statement

Contents

Approved By

Finance Directive (Policy)

The financial practice requirements of all government legislation relevant to the University.

Additional financial practices which will enable the University to achieve its strategic objectives.

Finance Committee

Finance Procedures

The procedures necessary to enact the Finance Committee Directives.

Deputy Vice Chancellor, Services and Resources

Authorised Limits and Restrictions

Limits relating to financial transactions.

Deputy Vice Chancellor, Services and Resources

or

Director, Financial and Business Services

General Information

Ancillary information provided as background notes.

Director, Financial and Business Services

Appendices

Financial Delegations Policy

Council

Accounting Policies

Deputy Vice Chancellor, Services and Resources

Related Legislation

Director, Financial and Business Services

FMPM Glossary

  1. The manual has been divided into the following sections:

    Section

    Table of Contents

    100

    Introduction

    200 and 300

    Assets

    400

    Liabilities

    500

    Equity

    600

    Revenue

    700

    Expenses

    800

    Financial Management and Control

    900

    Further Applications

     

    Appendices

     

    Glossary

  2. Each statement has a three (3) digit reference based on the structure of the manual, which are listed below.

First Digit

Section - General Topic

Range - 1 to 9

Second Digit

Sub-section - Specific Topic

Range - 1 to 9

Third Digit

Range - 0 to 9

0 Finance Committee Directive

1 to 9 Finance Procedures/Authorised Limits and Restrictions

Related policy instruments

FMPM 900 – Financial Management Practice Manual (Establishment Maintenance & Approval)

Schedules/Appendices

N/a

Related documents and legislation

Australian Accounting Standards

Financial Accountability Act 2009 (Qld)

Financial and Performance Management Standard 2009 (Qld)

James Cook University Act 1997 (Qld)

Administration

Approval Details

Policy sponsor:

Deputy Vice Chancellor, Services and Resources

Approval authority:

Deputy Vice Chancellor, Services and Resources

Date for next review:

31 March 2018

Revision History

Version

Approval Date

Implementation date

Details

Author

16-01

11/09/201612/09/2016

Updated to amend position titles and other minor amendments

Director, Financial & Business Services

12-01

12/03/2012

12/03/2012

  

01-01

12/2001

12/2001

  

01-01

12/2001

12/2001

  

Keywords

Financial, financial practices, manual