(1) The purpose of this policy is to establish and communicate the delegated authority levels for amending and executing the approved budget. (2) This Rule applies to all staff of the University and members of the Council. (3) In order to enable the orderly execution of the approved business plan and budget, and in accordance with Section 16 and 17 of the University of New England Act, 1993, the Vice-Chancellor and Chief Executive Officer is delegated authority to collect revenue, enter obligations, incur expenditure and place investments up to the maximum level identified in the attached tables. (4) The authority provided to the Vice-Chancellor and Chief Executive Officer under Article 3 comprises: (5) Authority above the maximum level of the Vice-Chancellor and Chief Executive Officer indicated in the tables is subject to prior approval by Council or Committees of Council as established under the University of New England Act, 1993. (6) For approvals of Council and Committees of Council, the Vice-Chancellor and Chief Executive Officer is delegated the authority to sign all documents and to do all things reasonably required to implement the approval in accordance with its terms. (7) The Vice-Chancellor and Chief Executive Officer may delegate their authority to other positions within the University, provided however that no position may have a delegated financial authority that is higher than the authority of the position to which the holder of that position reports and in no circumstance higher than the authority of the Vice-Chancellor and Chief Executive Officer. Such delegations shall be maintained in the Tables, and Council shall be advised of any changes to these delegations within three (3) months of the change. (8) Delegations pass to the person acting in the role where so approved by the delegate’s direct manager in writing. (9) All delegations are governed by Section 21A of the University of New England Act and paragraph 10 of the University’s Commercial Activities Rule. (10) Staff nominated to sign cheques and/or release University funds via electronic funds transfer (EFT) can do so at any value provided they have satisfied themselves that the expenditure has been authorised in accordance with the authority limits set above. (11) Staff issued with a University Credit Card will have an authorised limit of $10,000 for an individual transaction. Where travel or airfare expenditure charged to a traveller’s credit card exceeds $10,000 then the travel must be approved via the University’s Travel Management System in accordance with the schedule of authorities detailed in Table 1 prior to travel being undertaken. (12) This document should be interpreted using the following principles: (13) The authority level for the approval of contract variations is to be assessed at the full value of the revised contract, not just the variation amount. For example; if a contract was initially approved for $1,000,000 and a variation is sought for $100,000 then the approval for this variation can only be granted by those individuals or Committees who have authority for $1,100,000. (14) Approvals under all delegations are subject to specific approved budget allocations. (15) In relation to the University’s annual operating and capital budgets approved by Council: (16) Capital Expenditure is expenditure as described in the Asset Management Financial Rule that creates a future economic benefit for the University. Capital expenditure is incurred when funds are expended to acquire, build or upgrade assets. This expenditure will create an asset which appears on the University’s Balance Sheet.Financial Delegations Rule
Section 1 - Overview
Section 2 - Scope
Section 3 - Delegations to support Execution of the Approved Budget
Section 4 - Budget Delegations
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Section 5 - Definitions
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For the purposes of this Rule the following definition applies.