Goldsmiths - University of London

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Financial Procedures

Contents


1. Introduction

1.1 Scope and purpose of these procedures
1.2 Subject matter covered

2. Income and banking

2.1 Sources of income
2.2 Control of income
2.3 Cash and credit transactions
2.4 Uninvoiced income
2.5 Invoiced income
2.6 Receipting invoice payments
2.7 Duties of staff handling remittances
2.8 Adjustments to invoices
2.9 Responsibility for collection of debts
2.10 Bounced cheques
2.11 Bad debts

3. Budgets

3.1 Introduction
3.2 Programme for the Preparation and Approval of Budgets
3.3 Responsibilities of Budget Holders

Index

 

3.4 Budget types
3.4.1 'College' budgets
3.4.2 'Other' budgets
3.4.3 Staff budgets: permanent
3.4.4 Staff budgets: hourly Paid (visiting tutors etc)
3.4.5 Non-staff budget
3.4.6 Capital budgets
3.4.7 Research grants
3.4.8 Short courses/consultancies/conferences
3.4.9 Discretionary accounts
3.4.10 Earmarked allocations

3.5 Accounting information
3.6 Virement

3.7 Monitoring
3.7.1 Monthly
3.7.2 Year end

3.8 Additional resources
3.9 Coding structure
3.10 Further advice

4. Expenditure

4.1 Purchasing and ordering
4.1.1 Introduction
4.1.2 Purchasing policy
4.1.3 Purchasing procedures
4.1.4 Scope of purchasing office services
4.1.5 Contracts and competitive quotations
4.1.6 Central stores
4.1.7 Other centralised stores
4.1.8 Special purchasing organisation

4.2 Payment of suppliers
4.2.1 Introduction
4.2.2 Basic checks
4.2.3 Certifying accounts
4.2.4 Accounts not dealt with by departmental staff
4.2.5 Coding accounts
4.2.6 Programme of payments/Year-end accounting
4.2.7 Cheque and BACS payments
4.2.8 Banking arrangements
4.2.9 Building contracts, etc
4.2.10 Advertising and insurance payments
4.2.11 Staff expenses claims

4.3 Periodic payments - public utilities, etc
4.3.1 Introduction
4.3.2 Register of billings
4.3.3 Procedure

4.4 Cash payments
4.4.1 Introduction
4.4.2 Permanent cash float
4.4.3 Temporary cash float
4.4.4 Petty cash claims
4.4.5 Staff travel claims
4.4.6 Prospective staff travel claims

4.5 Payroll
4.5.1 Introduction
4.5.2 Weekly payroll
4.5.3 Monthly payroll
4.5.4 Payment of fees
4.5.5 Income tax and national insurance
4.5.6 Superannuation
4.5.7 Statutory sick pay
4.5.8 Statutory maternity pay
4.5.9 Maternity allowance
4.5.10 Statutory adoption pay
4.5.11 Statutory paternity pay
4.5.12 Engagement of Consultants, VTs & Visiting Speakers 

5. Assets

5.1 Introduction
5.2 Security of cash, banking and stock
5.3 Inventories, furniture and equipment, other non-consumables
5.3.1 Introduction
5.3.2 Asset Management Interface (AMI)
5.3.3 Acquisitions
5.3.4 Security
5.3.5 Disposal

5.4 Investments and long-term loans
5.5 Land and buildings

5.6 Stock accounting
5.6.1 Introduction
5.6.2 Responsibility for stock
5.6.3 Records kept
5.6.4 Stock levels
5.6.5 Stock checks
5.6.6 Surplus stock and stock deficiencies
5.6.7 Disposal of surplus stock
5.6.8 Stocktaking

6. Technical matters

6.1 Introduction

6.2 Taxation
6.2.1 Introduction
6.2.2 Scope of taxation and responsibility of staff
6.2.3 Income tax
6.2.4 Gift aid
6.2.5 Sub-contractors
6.2.6 Value Added Tax (VAT)
6.3 Insurances
6.3.1 Introduction
6.3.2 Review of insurances
6.3.3 Records kept
6.3.4 Notification of loss
6.3.5 Admission of liability
6.3.6 Inspection of engineering plant