Financial management and control
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17. Other Income-Generating Activity
17.1 Private Consultancies and other Paid Work
The College's policy on private consultancies and other paid work is as set out in Ordinances, and in policies approved by Council under Ordinance. This ensures that adherence to it is a contractual obligation for staff.
17.2 Short Courses and Services Rendered
Any member of staff wishing to run a short course must have the permission of their Head of Department. The course organiser will be responsible to the Head of Department for day-to-day management of the course. The term 'services rendered' includes testing and analysis of materials, components, processes and other laboratory services or the use of existing facilities in order to gain additional income.
17.3 Collaborative Provision
Any contract or arrangement whereby the College provides education to students away from College premises, or with the assistance of persons other than the College's own staff, or with independent contractors (partner organisations), shall be subject to the Collaborative Provision Framework, which sets out detailed arrangements for academic approval.
There shall be a contract signed by the Warden and on behalf of any partner organisation.
In relation to the financial considerations scrutiny will be by Finance and Resources Committee or Council, depending on whether the contract falls within the limits of authority of Finance and Resources Committee.
Any proposed significant changes to the contractual arrangements for collaborative provision shall be the subject of a new contract which should meet the requirements of the paragraph above.
The impact of major collaborative provision contract(s) shall be subject to scrutiny by the Finance and Resources Committee or Council. Major risks associated with a proposed partnership will be subject to Council consideration.
Where a proposed partnership would represent a significant departure from, or addition to, the College's agreed strategic direction, Council and the Warden shall seek the views of and inform the funding body where its procedures make that necessary.
17.4 European Union (EU) and other Matched Funding
Any such project requires the approval of the Director of Finance prior to any commitment being entered into. Such approval shall be dependent upon the relevant Head of Department being able to demonstrate that eligible matching funds are available and that the project is financially viable. If the College sub-contracts such work to external providers, the relevant Head of Department shall ensure that:
- this is on the basis of a written contract which allows for full audit access to detailed records;
- appropriate monitoring procedures are in place to ensure that the outputs are achieved and the provision is of suitable quality;
- payments are only made against detailed invoices.
17.5 Profitability and Recovery of Overheads
All income-generating activities must be self-financing or surplus-generating unless there are grounds, agreed by the Head of Department and Director of Finance, for a time-limited subsidy. All subsidies arrangements must not continue into a third year and must be reviewed at least annually. A case for a long term (over two years) or permanent subsidy must be made by the Head of Department and sent to the Director of Finance for presentation to the Senior Management Team. Income-generating activities organised by members of staff must be costed and agreed with the Director of Finance before any commitments are made. Provision must be made for charging both direct and indirect costs, including all overheads.
Any unplanned deficits incurred on other income-generating activities will be charged to departmental funds.
17.7 Additional Contributions to Departments
Distribution of profits on other income-generating activity between central funds of the College and individual departments will be in accordance with the policy approved by Finance and Resources Committee.
17.8 Additional Payments to Staff
Any proposal that involves additional payments to members of staff should be supported by a schedule of names and values and must be approved by the Head of Department and in the case of a Head of Department, the Warden. The proposal will not be accepted unless it clearly establishes that the work is in addition to that expected under the terms of the member of staff's existing contract of employment and is in accordance with Human Resources Department guidance.