University Financial Regulations - (3) to No 4408



<br /> Oxford University Gazette: University Financial Regulations<br /> (supplement)

Oxford University Gazette

University Financial Regulations

(Effective from 1 September 1996)

Supplement (3) to Gazette No. 4408

Monday, 22 July 1996



Contents of the supplement:


To
Gazette No. 4409 (25 July 1996)

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Financial Regulations

(Effective from 1 September 1996)


I. INTRODUCTION

This document contains the Financial Regulations made by the
Curators of the
University Chest and ratified by the Hebdomadal Council in
accordance with
their statutory responsibilities for the proper control of the
financial
business of the University. The regulations apply to the conduct
of all
financial business of the University of Oxford, irrespective of
the source of
funding.

The Financial Regulations are included as regulations in the
Statutes,
Decrees, and Regulations of the University. The Hebdomadal
Council, subject to
the provisions of the statutes, is responsible for the
administration of the
University and for the management of its finances and property
and has all the
powers necessary for it to discharge these
responsibilities
(Tit. IV, Sect. I,
cl. 1). The Curators of the University Chest are responsible
under Council for
the conduct and supervision of the University's financial
business (except
that of the Delegates of the Press) and have power to make
regulations
(Ch.
II, Sect. I, 7 § 6, cl. 2).

The primary objective of these regulations is to ensure the
proper use of
finances and resources in a manner which satisfies the
requirements of
accountability and internal control and also fulfils any legal
or financial
obligations as laid down by the Inland Revenue, the Higher
Education Funding
Council for England (HEFCE), Customs and Excise, and other
government
authorities. The regulations do not extend to non-financial
activities of the
University nor are they a definitive statement on the governance
of the
University.

Copies of the regulations are circulated to the heads of all
university
departments and institutions and to the secretaries of all
university
committees and boards which receive and hold funds. It is their
responsibility
to ensure that those responsible to them are made aware of the
existence and
provisions of these regulations, and that an adequate number of
copies are
made available for reference. Those with financial and accounting
responsibilities must have their own copies.

Compliance with the Financial Regulations is a requirement
for
all employees
of the University (irrespective of whether their appointment
is financed by
general university funds, research grants and contracts, or trust
or other
funds) and for all those not directly employed by the University
who have
responsibility for the administration or management of university
funds.

Additional copies of these regulations may be obtained from
the
Secretary of
the Chest, who should also be contacted for advice if there is
any uncertainty
as to their application.

A University Financial and Accounting Procedures Manual will
also be issued
to assist employees and others within the University with
financial and
accounting responsibilities. This will detail the procedures with
which the
Curators of the University Chest, the University Audit Committee,
and the
Internal and External Auditors expect all university employees
and those with
responsibility for the administration or management of university
funds to
comply.

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II.THE FINANCIAL REGULATIONS



§1. General

1. These Financial Regulations have been made by the Curators
of the
University Chest under the power given to them in the Decrees of
the
University (Ch. II, Sect. I, § 6, cl. 2) and have been
ratified by the
Hebdomadal Council. The regulations apply to the conduct of all
financial
business of the University, irrespective of the source of
funding. They do not
extend to the non-financial business of the University and are
not a
definitive statement on the governance of the University. The
University is a
civil corporation, and the structure of its governance is laid
down in the
Statutes and Decrees of the University. Some of the statutes can
be amended
only by The Queen in Council. The University is an exempt charity
by virtue of
the Charities Act 1960.

2. Compliance with the regulations is a requirement for all
employees of the
Chancellor, Masters, and Scholars of the University of
Oxford (other than
those responsible to the Delegates of the University Press) and
for all those
not directly employed by the University who have responsibility
for the
administration or management of university funds.

3. The staff of the Internal Audit Section will point out any
non-compliance
they encounter during the course of their work.

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§ 2. Application

1. The regulations apply to all bodies included in the
University's annual
audited financial statements including subsidiary companies, the
University of
Oxford Development Trust, and colleges without independence. They
apply to all
funds received and held by those bodies from whatever source.

2. The regulations do not apply to those colleges of the
University which are
independent.

3. The regulations do not apply to the Delegates of the
University Press, who
have their own internally established financial policies and
procedures.

4. Where the Finance Division of the Central Administration
or a department
or institution or committee or board within the University
provides an
accounting or other financial service for bodies which are not
part of the
University, it is acting as a custodian of the funds it is
holding and has a
duty to exercise the same care as with its own funds. The
regulations apply to
these funds while the University holds them.

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§ 3. Distribution

1. The Secretary of the Chest is responsible for ensuring
that copies of the
regulations are distributed to the heads all of university
departments and
institutions and to the secretaries of all university committees
and boards
which receive and hold funds.

2. The heads of all university departments and institutions
and the
secretaries of all university committees and boards which receive
and hold
funds are responsible for ensuring that all members of their
institution or
department or all those responsible to their committee or board
are aware of
the regulations and have access to them and that those with
financial and
accounting responsibilities have their own copies.

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§ 4. Updating

1. Every five years the Secretary of the Chest shall arrange
for the
regulations to be reviewed and for any proposed changes to be
submitted to the
Curators of the University Chest for their consideration and for
any changes
agreed by the curators to be submitted to the Hebdomadal Council
for
ratification.

2. The Secretary of the Chest may also submit changes to the
Curators of the
University Chest at any other time for their consideration and
arrange for the
changes when made by the curators to be submitted to the
Hebdomadal Council
for ratification.

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§ 5. Financial Responsibility
within the University

1. The Hebdomadal Council, which is composed of
members of Congregation
elected by Congregation, and ex officio members,
is (subject to the provisions
of the statutes) responsible for the administration of the
University and for
the management of its finances and property and has all the
powers necessary
for it to discharge these responsibilities. To perform these
responsibilities
effectively, it delegates detailed management to committees and
officers,
retaining ultimate responsibility subject to the statutes.

2. Congregation is the ultimate legislative body
of the University and is
composed of all academic staff and established senior research
support staff,
senior administrators, and senior librarians. It has to approve
changes to the
Statutes and Decrees of the University.

3. The Curators of the University Chest are
responsible under Council for the
conduct and supervision of the University's financial
business (except that of
the Delegates for the Press) and have the power to make
regulations.

4. The General Board of the Faculties
is (under Council) responsible for the
academic administration of the University. It has the duty to
consider and to
supervise all matters connected with the research and teaching
activities of
the University and to administer the funds made available to it
for those
activities. The General Board is composed of members of
Congregation elected
by Congregation from members of faculties, and ex
officio
members.

5. The Resources Committee is a joint committee
of the Hebdomadal Council and
the General Board which keeps under review the financial
resources of the
University and the needs of the various spending sectors, and
makes
recommendations to Council and the General Board, in particular
on long-term
financial planning, the annual budget, the allocation of
resources, and the
use of the University's capital funds.

6. The Vice-Chancellor is the chief officer of
the University, who normally
presides over Congregation and normally chairs the Hebdomadal
Council in the
place of the Chancellor. The Vice-Chancellor is ex
officio
a member of the
General Board and may take the chair. The Chancellor is a member
of the
Curators of the University Chest, taking the chair when present
and appointing
the Chairman of the Curators. The Chancellor also chairs the
Resources
Committee. He or she is the Designated Officer appointed by
Council in
accordance with the University's Financial Memorandum with the
Higher
Education Funding Council for England, and may be required to
appear before
the Public Accounts Committee on matters relating to Funding
Council grants
made to the University.

7. The Registrar, under the Chancellor, is the
head of the central
administrative service of the University and is also secretary
of Congregation
and of Council.

8. The Secretary of the Chest is one of the five
deputies to the Registrar
and is the Chief Financial Officer of the University with right
of direct
access to the Chancellor and Council on financial, technical, and
professional
matters. He or she is secretary of the Curators of the University
Chest (see
cl. 3 above) and head of the Finance Division within the Central
Administration. The Secretary of the Chest is responsible:

(a) to the Curators of the University Chest for
ensuring that adequate
controls and procedures are in place to record all transactions
of the
University in an accurate and timely manner;

(b) for the provision of financial information and
advice to all departments
and spending units; and

(c) for advising the relevant university committees
on financial policies and
planning, and the financial implications of any proposals.

9. Financial Memorandum with the Higher Education
Funding Council for England
(HEFCE)
. The Hebdomadal Council is responsible for
ensuring that the
University complies with the memorandum and related guidance.
HEFCE is
required to be satisfied that the Hebdomadal Council has
appropriate
arrangements for financial management and accounting and that the
uses to
which HEFCE funds are put are consistent with the purposes for
which they were
given. The Hebdomadal Council is also required to ensure that the
University
has a sound system of internal financial management and control
and that value
for money is delivered from public funds. The Chancellor is the
Designated
Officer appointed by the Hebdomadal Council in accordance with
the Financial
Memorandum, who is responsible for satisfying Council that the
Financial
Memorandum is complied with. The Financial Memorandum sets out
detailed
guidelines covering a number of areas referred to in these
regulations; in
such cases the regulations have been framed to incorporate the
requirements of
the memorandum.

10. Heads of Departments and Institutions. As
much autonomy and devolution of
functions as are possible and practicable are given to individual
departments
and institutions. Therefore full responsibility for internal
control within a
department or institution rests with each head of department or
institution,
who should ensure that appropriate and adequate arrangements
exist within the
department or institution to safeguard all assets, that
university policies
including these Financial Regulations are complied with, and that
records are
maintained in as complete and accurate a form as possible.

In particular, heads of departments and institutions must
ensure wherever
possible that the duties of their staff are segregated so that
more than one
member of staff records and processes a complete transaction,
e.g. for the
receipt, recording, and banking of income, or for the placing of
orders,
receipt of goods, and approval of invoices for payment. Where
resources allow
for only one member of staff to carry out all the administrative
duties of the
department or institution, it is incumbent upon the head of
department or
institution to ensure that adequate procedures for regular
independent checks
of financial transactions are in place. 11. Guidance on
recommended internal
control procedures will be included in the University Financial
and Accounting
Procedures Manual when issued.

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§ 6. Ethical Policy

1. University employees and others with responsibility for
the administration
or management of university funds should never use their
authority or office
for personal gain and should always seek to uphold and enhance
the standing of
the University.

2. The University has published Guidelines on Conflict of
Interest which
employees and others who have responsibility for the
administration or
management of university funds are expected to follow in order
to avoid such
conflicts. A Conflict of Interest Committee has also been set up
to give
formal and informal advice. Enquiries should be directed in the
first instance
to the Director of the Research and Commercial Services Office,
from whom
details of the guidelines are also available.

3. Members of university committees should declare any
relevant interests
(financial or otherwise) in matters under discussion and
should if requested
by the chairman withdraw from such discussion.

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§ 7. Audit

1. The University's audit arrangements are required to be in
accordance with
the requirements of the HEFCE Audit Code of Practice.

2. The Audit Committee is a committee of the
Hebdomadal Council whose members
are appointed by Council and are not members of Council or any
other committee
which has main-line executive authority within the University.

The committee reviews the effectiveness of the financial and
other internal
control systems of the University including the scope and
effectiveness of the
work of the Internal Audit Section and the audit of the
university financial
statements. The committee must produce an annual report for
Council, which,
after consideration by Council, must be sent to the Chief
Internal Auditor of
HEFCE.

3. The Internal Audit Section is responsible for
carrying out an independent
appraisal of the internal control systems of the University's
activities,
financial and otherwise. It provides a service to all levels of
management by
evaluating and reporting to them the effectiveness of the
controls for which
they are responsible. The section may provide advice concerning
controls and
other matters in the development of systems but does not have a
direct
responsibility for the development, implementation, or operation
of systems.
The section is responsible for giving assurance to the Audit
Committee, the
Hebdomadal Council, and the Chancellor on all financial and other
control
arrangements. The work of the section involves a continual
programme of review
of university departments, faculties, and committees and of the
Central
Administration.

The Internal Audit Section has unrestricted right of access
to all vouchers,
documents, books of account, computer data, and any other
information which it
considers relevant to its enquiries and which is necessary to
fulfil its
responsibilities. This includes the right to verify assets and
to have direct
access to any employee or person responsible for the
administration or
management of university funds with whom it is felt necessary to
raise and
discuss such matters.

4. External Auditor. The Hebdomadal Council
shall annually appoint, on the
recommendation of the Audit Committee, the University Auditor.

The University Auditor audits the Financial Statements of the
University and
reports to the Chancellor whether in his or her opinion the
financial
statements give a true and fair view of the state of the
financial affairs of
the University and its related bodies and subsidiary
companies (other than the
University Press) at the balance sheet date, and of their income
and
expenditure for the year then ended.

The University Auditor has unrestricted right of access to
all vouchers,
documents, books of accounts, and computer data, and any other
information.
The University Auditor has the right to verify assets and to have
direct
access to any employee or person responsible for the
administration or
management of university funds with whom it is felt necessary to
raise and
discuss such matters. The University Auditor may visit
departments and
institutions.

5. Other Auditors. The University may be audited
by the HEFCE Audit Service
and may be visited by the National Audit Office. These auditors
have the same
rights of access as the Internal and External Auditors.

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§ 8. Fraud and Irregularity

Any suspicion of financial irregularity should be notified
immediately to the
Internal Audit Section, who will advise the Secretary of the
Chest, the
University Marshal, and others as appropriate. Departments should
not take
action without the approval of the Secretary of the Chest.
Departments should
not contact the Thames Valley Police direct. In cases which
involve or may
involve students, the Proctors will also be informed by Internal
Audit at an
early stage.

Serious weaknesses, significant frauds, or any other major
accounting
breakdown must be reported by the Secretary of the Chest to the
Vice-Chancellor as the University's Designated Officer in
accordance with HEFCE
requirements.

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§ 9. Budgets and Forecasts

1. University Budget. The Resources Committee
is required to report before
the end of Trinity Term to Council and the General Board on the
budget for the
ensuing financial year.

All heads of departments and institutions and secretaries of
committees and
boards must by the date stated by the Secretary of the Chest
supply the
Finance Division of the Central Administration with any
information requested
for the preparation of the university budget.

2. Spending Sector Budgets. Each spending
sector (`parent body') which
receives and allocates central university funds is required
before the start
of each financial year to prepare a budget for that financial
year and to
notify grants to the spending bodies, if any, for which it is
responsible. The
spending sectors are the General Board, the Council Departments
Committee, the
Central Administration, the Buildings Committee, and the Health
and Safety
Committee.

If a spending sector is unable to complete its budget before
the start of the
financial year it must report this and the circumstances to
Council through
the Resources Committee.

No spending sector may budget for an accumulated deficit on
its general funds
(funds not earmarked by the body from which received) without
reporting the
circumstances to Council through the Resources Committee.
Accounts for funds
which are earmarked by the body from which they are received must
not have an
accumulated deficit.

3. Departmental Budgets and Forecasts. Each
department, institution, board,
or committee (`spending body') which receives a recurrent grant
from a parent
body (see cl. 2 above) is required by the date in Michaelmas
Term notified by
the Secretary of the Chest to prepare a budget each year of how
it is planning
to spend its recurrent and other grants from central university
funds and any
other income. These budgets are used by spending bodies to
monitor their
expenditure and income during the year. They are also used in the
preparation
of the University's budget and by parent bodies when considering
the financial
position of spending bodies.

Each spending body must also by the date notified by the
Secretary of the
Chest supply termly forecasts for consideration by the Curators
of the
University Chest and by its parent body.

Spending bodies are required to keep their expenditure within
the resources
available to them. A spending body may budget for a deficit for
the year on
its main account to which its recurrent grant from central funds
is credited
if the balance at the start of the year is large enough to ensure
that at the
end of the year there is still an accumulated surplus, or if
special
arrangements have been agreed with the parent body to allow an
accumulated
deficit at the end of the year.

If a spending body finds in the course of a year that it will
be unable to
achieve its budget and is likely to show an accumulated deficit
at the end of
the year, it must report the situation to its parent body without
delay. The
parent body may agree to allow the deficit to stand only if it
is satisfied
that the spending body has plans in place to recover the
position.

A spending body which has an accumulated deficit at the start
of the year on
its main recurrent grant account must satisfy its parent body
that it has a
budget to eliminate that deficit during the year. In exceptional
circumstances, a parent body may agree to a longer time scale.

Where a spending body has been permitted by its parent
body to have one or
more separate accounts under the terms set out in § 11, cl.
5
below, the
account or accounts must not have an accumulated deficit unless
the express
permission of the parent body has been given.

In the case of recurrent grants for equipment and/or
furniture provided by
the Research and Equipment Committee, the spending body may end
the financial
year with an overspend on that grant of not more than the limit
laid down by
the Research and Equipment Committee from time to time.

Advice can be obtained from the Deputy Chief Accountant in
charge of
Departmental Accounts in the Finance Division.

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§ 10. Staff Establishment

1. New academic-related and non-academic posts at the grades
of P06, Whitely
Council MLS01, MT02, and below, Nurse E and below, Administrative
and Clerical
3 and below, and outside-grant-funded
academic-related RSIA and RSIB may be
set up by departments, institutions, boards, and committees
without the prior
approval of the grading by the Personnel Services Section of the
Central
Administration (acting on behalf of the Staff Committee),
provided that if the
post is outside-grant-funded the relevant procedures specified
by the Research
and Commercial Services Office for the acceptance of the outside
grant have
been completed. The grading of all other new academic-related and
non-academic
posts with salary scales whose maximum is below the maximum of
the scale for
university readers, or changes to the grade of similar existing
posts, must be
approved by the Personnel Services Section on behalf of the Staff
Committee
unless otherwise specifically covered by Council. Advice can be
obtained from
the Personnel Services Section.

2. The Decrees of the University state that the
Committee on Higher
Appointments shall consider and make recommendations to
Council (and in
appropriate cases to the General Board) on all proposals for the
creation of
new posts (or the regrading of existing posts) in respect of
all
administrative, library, curatorial, and other staff in receipt
of salaries
above (or on scales with a maximum above) the maximum of the
scale for
university readers
(Ch. II, Sect. I, § 12, cl. 1).

The setting up of new established academic-related and
non-academic posts and
any changes to established academic-related and non-academic
posts should also
be approved in the case of General Board departments, boards, and
committees,
by the Finance and General Purposes Committee of the General
Board; in the
case of Council departments, by the Committee for Council
Departments; and in
the case of libraries under the Libraries Board, by the Libraries
Board or
such body as may have been duly authorised by the Libraries
Board.

3. The setting up of new established academic posts and any
changes to the
establishment of academic posts are made by the General Board.

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§ 11. Accounting Records, Annual
Accounts, and University Financial Statements

1. Accounting Records. The Decrees of the University
state that the Curators
of the University Chest and each delegacy, board, and committee
and the head
of each institution and department to whom funds are entrusted
shall
respectively ensure that all moneys under their control are
safely kept and
are used only for the purposes for which they are allocated and
that all
transactions are recorded in proper accounting
records
(Ch. VIII, Sect. IX,
cl. 1).

2. Retention of Financial Documents. Financial
documents should be retained
for periods prescribed by the Secretary of the Chest.

3. University Computerised Accounting System.
All members and staff of the
University with access to the University's computerised
accounting system must
comply with the password and other security controls established
within the
Central Administration. Advice can be obtained from the Prophecy
Implementation Team in the Finance Division.

All members and staff of the University must comply with the
University
Policy and Rules for Computer use. Advice can be obtained from
the Director of
Computing Services.

All members and staff of the University must comply with the
University Data
Protection Policy. Advice can be obtained from the Director of
Administrative
Information Services.

4. New Institutions, Boards, or Committees. No
new department, institution,
board, or committee may be established with a grant from central
university
funds otherwise than on the authority of the appropriate parent
body. No grant
from central university funds may be transferred from one
department,
institution, board, or committee to another without the
permission of the
appropriate central university body.

5. Separate Accounts. If a department,
institution, board, or committee
wishes to set up an account which is to be kept separate from its
main account
(the account to which its recurrent grant from central funds
is credited) in
its year-end accounts, it must first obtain the authority of its
parent body.
Such separate accounts may be set up only for funds which are
identified by
their original provider as not being available for general
purposes subject to
approval by the parent body or its delegated representative. In
no
circumstances may such accounts show accumulated deficits unless
the express
permission of the parent body has been given.

6. Annual Accounts and Financial Statements. The
Decrees of the University
state that the Curators of the University Chest shall prescribe
the form in
which the institutions, departments, boards, committees, and
delegacies shall
keep their accounts, and prescribe the dates by which the annual
accounts of
those bodies shall be submitted to them
(Ch. II, Sect.
I, § 6, cl. 7 (c)).

When submitting their annual accounts to the Curators of the
Chest the head
of department or chairman of each department, institution, board,
or committee
shall complete the certificate required by the Curators of the
Chest.

The Decrees of the University state that the Curators
of the Chest shall
review annually and report to Council on their own accounts and
the accounts
of all institutions, departments, boards, committees, and
delegacies of the
University
(Ch. II, Sect. I, § 6, cl.
7 (e)).

The Decrees of the University state that as soon as
practicable after 31
July in each year, the Curators of the University Chest shall
cause to be
prepared and audited and submitted to the Chancellor Financial
Statements of
the University for the year to that date
(Ch. VIII,
Sect. IX, cl. 2 (a)).

The Decrees of the University state that each
delegacy, board, committee, and
subsidiary company and the head of each institution and
department shall as
soon as practicable provide or cause to be provided such
information as the
Curators of the University Chest may require to enable them to
prepare the
Financial Statements of the University
(Ch. VIII, Sect.
IX, cl. 2 (b)).

The Vice-Chancellor, the Chairman of the Curators of the
University Chest, and the
Secretary of the Chest shall sign the financial statements.

The signed and audited Financial Statements of the University
shall be sent
to HEFCE before the 31 December following the accounting period
ending on the
previous 31 July, in accordance with the Financial Memorandum
with HEFCE.

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§ 12. Banking Arrangements

1. University income comprises all moneys receivable by the
University,
including all university departments, institutions, boards, and
committees.
University income includes all moneys made available to
individuals on the
basis of their association with the University.

2. The setting up of university bank accounts, including the
mandate for
those bank accounts and subsequent changes to the mandate, must
be approved by
the Curators of the University Chest. All bank accounts shall be
in the name
of the University. The University Statutes require that all
moneys receivable
by the University shall be paid to the Curators of the Chest. In
consequence
the curators cannot permit the opening of private bank accounts
which result
in the diversion of any moneys receivable by the University.

3. The Secretary of the Chest is responsible, on behalf of
the Curators of
the University Chest, for liaising with the University's bankers
in relation
to the University's bank accounts and the issue of cheques. All
cheques shall
be ordered on the authority of the Secretary of the Chest, who
shall make
proper arrangements for their safe custody.

4. The Secretary of the Chest is responsible for ensuring
that all university
bank accounts are subject to regular reconciliation and that
large or unusual
items are investigated as appropriate.

5. Where the curators agree to the setting up of a bank
account for a
department, institution, board, or committee, the name of the
University as
well as that of the department, etc. must appear in the name of
the account.

6. All university income must be banked to a university bank
account and all
university expenditure paid from a university bank account.

7. Where the curators give approval for the setting up of an
imprest bank
account, the account may be used only for making payments and not
for banking
receipts other than for the reimbursement of the account. Imprest
bank
accounts cannot be used for payments which are in the nature of
employment or
for the settlement of normal commercial invoices. They can be
used to
reimburse travel expenses under £10 provided that a travel
claim form is used.
They must not be overdrawn. Advice can be obtained from the
Deputy Chief
Accountant in charge of Departmental Accounts in the Finance
Division.

8. The approval of the curators is needed in advance for the
setting up of
any university charge or credit cards. Advice can be obtained
from the Deputy
Chief Accountant in charge of Departmental Accounts.

9. When a university department, institution, board, or
committee becomes
aware that it will become subject to foreign exchange risk
through the future
receipt or payment of foreign exchange, it should notify the
Finance Division
and arrange to discuss how the risk can be reduced or avoided.
Advice can be
obtained from the Investment Secretary in the Finance Division.

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§ 13. Deposit Pool

1. The University has a deposit pool in which departments and
institutions,
boards, committees, and trust funds may invest certain surplus
cash balances
if available for a minimum period of one month. The pool attracts
the same
income as the University's short-term cash deposits, which is
paid to
depositors at the end of each financial year, but does not offer
investors any
capital growth. Investments are made at the discretion of the
Curators of the
University Chest as recommended by the Investment Committee.

2. The Curators of the University Chest shall determine from
time to time the
minimum amount that may be invested by a department, institution,
board,
committee, or trust fund and the minimum withdrawal or additional
investment.
They will also determine the monthly dates when deposits and
withdrawals may
be made.

3. Every account which has funds in the deposit pool must
either have a nil
or positive balance of cash with the Chest. For those accounts
recording
expenditure to be reclaimed from a trust fund at the end of the
financial
year, the balance of the account will be offset against the trust
fund balance
and only the net value invested.

4. The Curators of the University Chest shall approve the
type of funds which
can be placed on deposit in the deposit pool. The Secretary of
the Chest will
approve each individual application to place funds on deposit.
No moneys from
a department, institution, board, or committee account that has
received
central university funds may be invested in the pool. Advice can
be obtained
from the Deputy Chief Accountant in charge of Departmental
Accounts.

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§ 14. Petty Cash

Where a petty cash float is provided to pay minor expenses, it
may not be used
for payments which are in the nature of employment or to regular
suppliers. It
may be used to reimburse travel expenses under £10 provided
that a travel
claim form is used. The department or institution is responsible
for the
security of the float. Claims for reimbursement must be made
using the
standard form provided by the Finance Division and be supported
by invoices or
other supporting documents. Cash receipts are not to be added to
the petty
cash float. Petty cash floats must not be used for personal
expenditure even
if the intention is to reimburse the float later.

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§ 15. Receipts

1. Each head of department or institution and each board or
committee which
receives cash or cheques is responsible for establishing
procedures to ensure
that all receipts to which the department, institution, board,
or committee is
entitled are received, properly accounted for and recorded, and
banked intact
within a week, or more often if large sums are received. The
head, etc. is
also responsible for the security of cash received until banked.

2. All cheques received by university departments,
institutions, boards, and
committees shall, wherever possible, be made payable to the
`Oxford University
Chest' or to the name of the department, institution, board, or
committee
followed by `Oxford University'.

3. The postal service and University Messenger Service must
not be used to
send cash.

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§ 16. Acceptance of Gifts,
including Gifts in Kind and Benefactions received under a Will

1. The Hebdomadal Council has given delegated authority as
follows [Council
Standing Order 24 (2)]:

(a) to the Curators of the Chest, authority without
limit to accept gifts in
respect of allocations from the Trustee of the Campaign for
Oxford Trust Fund;

(b) to the Chairman of the Curators of the
University
Chest, authority to
accept gifts worth more than £20,000 and up to
£100,000, subject to a termly
report to Council of action taken;

(c) to a Deputy Chief Accountant, authority to accept
gifts worth more than
£2,000 and up to £20,000; and

(d) to the head of each department or, if the head
so wishes to its
administrator, authority to accept for that department gifts
worth up to
£2,000;

except in each case:

(i) research grants and contracts covered by procedures
jointly agreed
between Council and the General Board;

(ii) any gifts the acceptance of which involves the
establishment of a new
trust;

(iii) any gifts which bear any restrictive conditions or which
entail any
potential commitment on university funds;

(iv) any gifts which may be considered sensitive for political
or other
reasons; or

(v) any other gifts in respect of which those given delegated
authority may
consider Council's approval necessary.

In appropriate cases those exercising delegated authority are
expected to ask
Council to vote thanks for a gift.

2. Benefactions and endowments made to the University may be
given on trust.
In order to ensure that the University complies with any
conditions attaching
to the benefaction or endowment, a decree must be made. The
decree should
include the purpose of the fund, its aims and objectives, the use
to which the
income is to be put (including unspent income carried forward
to future
financial years), and whether the capital may be spent. The
capital is usually
invested in the trusts pool. Advice may be obtained from the
Deputy Chief
Accountant in charge of Departmental Accounts.

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§ 17. Sales

1. Each head of department or institution and each board or
committee which
receives income from the sale of goods or services is responsible
for
establishing procedures to ensure that all sales are authorised
and are made
only to acceptable credit risks. Procedures must ensure that
accurate invoices
are prepared for all goods dispatched or services supplied and
that they are
properly recorded and processed. Procedures must also be in place
to follow up
overdue accounts effectively.

2. The liability to Value Added Tax of all goods and services
supplied must
be established and Value Added Tax charged and accounted for as
appropriate.

3. When a new income-generating activity is set up, the
Secretary of the
Chest must be consulted to consider whether the activity
constitutes trading
which might be subject to Corporation Tax and therefore should
be conducted
through a university company.

4. The University is required by the Financial Memorandum
between the
University and HEFCE when determining the price to be charged for
research
contracts, residences, catering, conferences, and services to
external
customers, including consultancy, to assess the full cost to the
University.
HEFCE expects the full cost to be recovered unless it is
appropriate to do
otherwise having regard to the particular circumstances.
Departments,
institutions, boards, and committees are responsible for ensuring
that charges
make due allowance for overhead costs and that they are aware of
the extent to
which they subsidise the cost from their own resources and can
give
justification for any subsidy. When research grants and contracts
are costed,
the University's policy on the charging of overheads between
departmental and
central funds must be followed.

5. The head of department or institution or the board or
committee must
approve sales to employees, members of the University, or other
customers made
without charge or at a charge below that normally made to
external customers.

6. The head of department or institution or the board or
committee should
ensure that appropriate charges are made for the use of
university premises
and facilities for non-university purposes.

7. Writing-off Bad Debts. The following have
authority to write off bad debts
after all reasonable steps have been taken to recover them:

(a) The Secretary of the Chest has authority to write
off against the General
Fund bad debts of up to £5,000.

(b) The Curators of the University Chest have
authority to write off sums
over £5,000 against the General Fund. They also have
authority to write off
smaller sums against the General Fund in any case of difficulty
referred to
them by the Secretary of the Chest.

(c) The curators have authority where they consider
that the bad debt
resulted from unguarded action taken by a department,
institution, board, or
committee to write off the bad debt against that body's funds.

A head of department or institution or a board or committee
with bad debts
due to the department, institution, board, or committee should
consult the
Secretary of the Chest, who will decide whether the bad debt
should be written
off against the General Fund if it is less than £5,000, or
if it is more than
£5,000 or a difficult case ask the curators to decide
whether to write the bad
debt off against the General Fund. All bad debts where the bad
debt might be
written off against departmental, etc. funds will be considered
by the
curators.

The curators will receive an annual report of the total sum
written off each
year giving details of individual sums over £2,000.

Any Value Added Tax included in bad debts which have been
written off may be
recovered using the procedures prescribed by Customs and Excise.

Any legal action to recover moneys due has to be approved by
the Chancellor.
Advice should be sought from the Secretary of the Chest in the
first instance.

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§ 18. Authority for the Effecting
of Contracts

1. The Decrees of the University state that the
Registrar, the Secretary of
the Chest, the Secretary of Faculties, the University Surveyor,
their
respective deputies appointed from time to time, and the Land
Agent are
authorised to enter into, vary, and discharge on behalf of the
University such
contracts and such classes of contracts (whether made in
writing or by parol),
and to sign such other documents and such classes of documents,
as may be
specified by Council
(Ch. VIII, Sect. X).

2. The Director of the Research and Commercial Services
Office is authorised
to effect all contracts relating to research and related matters.

3. Heads of departments and institutions and boards and
committees have
authority to effect contracts in the course of the ordinary
business of their
department, institution, board, or committee involving only the
funds over
which they have delegated control, subject to the Statutes,
Decrees, and
Regulations of the University including these Financial
Regulations. They do
not have any authority to enter into any contract which is
illegal or which
does not comply with obligations laid down by HEFCE, the Inland
Revenue,
Customs and Excise, and other government authorities. What is
ordinary
business will vary from body to body but for academic departments
is teaching
and research and (save as otherwise provided) their support.
Specific funds
may be used only for the purposes given.

4. Heads of departments and institutions and boards and
committees may
delegate in writing their authority to effect contracts.

5. Heads of departments and institutions and boards and
committees should
obtain the advice of the Secretary of the Chest in the first
instance if they
are unsure of their authority to effect a particular contract.

6. The regulations for contracts of employment are stated in

23 below.

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§ 19. Expenditure

1. Each head of department or institution and each board or
committee is
responsible for establishing procedures to ensure that goods and
services are
ordered only in required quantities of suitable quality at the
best terms
available, after appropriate requisition and approval.

Procedures must be in place to ensure that goods and services
received are
inspected and only properly ordered items are accepted before
invoices are
authorised. Invoices must be properly recorded.

2. Orders may be placed only when funds are available to pay
for them.

3. Each head of department or institution and the secretary
of each committee
or board must supply the Departmental Accounts Section of the
Finance Division
with a register of authorised signatures for the authorising of
documents for
payment. The register may have limits to any individual's
authority. Each
entry on the register must be signed or initialled by the head
of department
or secretary. Where the proposed authorised signatory is not a
university
employee, the approval of the Secretary of the Chest is also
required. The
register must be kept up to date. Advice can be obtained from the
Departmental
Accounts Section of the Finance Division.

4. The Central Purchasing Officer in the Central
Administration should be
consulted for advice and information on all purchasing matters
including
centrally negotiated purchasing arrangements, to ensure that
value for money
is obtained. Further information is available in the Oxford
University
Purchasing Group buyer's guide.

5. Heads of departments and institutions and committees and
boards are
responsible for complying with European Union Procurement
Directives. All
individual procurements and contract arrangements with a value
in excess of
£150,000 must by law be advertised in the Official Journal
of the European
Union. The penalties for non-compliance by the University are
severe. Further
guidance on the EU Procurement Directives is available from the
Central
Purchasing Officer and is included in the Oxford University
Purchasing Group
buyer's guide.

6. Prompt payment for discount must not be made earlier than
the date of
supply except in cases where the supplier must itself make cash
outlays at an
early stage or permission has been obtained from the Finance
Division. Advice
can be obtained from the Deputy Chief Accountant in charge of
Departmental
Accounts.

7. Payments in the nature of employment must be made through
the university
payroll and not by other means.

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§ 20. Travel and Subsistence:
Claims for Reimbursement

1. Travel and subsistence reimbursement claims should be made
on university
claim forms or other forms approved by the Curators of the
University Chest.

2. The claims must be for the reimbursement of actual
expenditure incurred
wholly and necessarily on the business of the University and be
in accordance
with the rates approved by the Curators of the University Chest.
The lower
mileage rate should be used unless the head of department or
institution or
the board or committee has authorised the use of the higher rate
in advance.

3. Supporting vouchers must be provided for the cost of
accommodation, fares,
and other major items of expenditure. 4. No round-sum allowances
may be paid
without the approval of the Curators of the University Chest.

5. An owner whose vehicle is being used for travel on
university business
must ensure that it is adequately insured for that purpose.

6. Employees cannot be reimbursed for the cost of travel to
and from their
normal place of work otherwise than in exceptional circumstances,
when
permission from the Secretary of the Chest must be sought.
Reimbursement of
travel expenses to Oxford for certain defined casual employees
and others
approved by the Secretary of the Chest where the journey exceeds
twenty miles
may be grossed up for tax and national insurance, and then paid
through the
payroll.

7. No one may authorise reimbursement of his or her own
expenses. Where there
is no suitable person within a department, institution, board,
or committee to
authorise an expense claim, the Secretary of the Chest must be
asked to make
alternative arrangements.

8. Those travelling abroad on university business should take
out appropriate
insurance cover; this is available at economical rates through
travellers
registering with their departmental administrator or board or
committee
secretary. This cover includes medical expenses incurred abroad
and those
costs arising from cancellation or curtailment of the journey.

9. Advice on travel and subsistence claims should be sought
from the Deputy
Chief Accountant in charge of Departmental Accounts.

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§ 21. Travel and Subsistence:
Advances

1. Advances will normally be made only to employees and
registered students
of the University for up to one month's costs. Trips which exceed
one month
should be funded on an imprest system of topping up the advance
against claim
forms. Only in cases where this would be genuinely impossible or
impracticable
will an exception to the time limit be made and then only on
consideration of
a written application in advance to the Secretary of the Chest.

2. Advances will be limited to 75 per cent of the estimated
cost of up to one
month's subsistence according to the daily rates for countries
abroad approved
by the Curators of the University Chest and to the full cost of
fares.

3. Requests for advances should be made on university expense
claim forms
giving details of dates and countries to be visited, and a
breakdown of the
advance required.

4. Claimants must submit full documentation within seven days
of return, and
the process of accounting for the claims against advances must
be completed
within one month of the return date. Advances should not be
outstanding for
more than two months.

5. Advice on travel and subsistence advances may be obtained
from the Deputy
Chief Accountant in charge of Departmental Accounts.

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§ 22. Payments for Entertaining

1. Entertaining should wherever possible and appropriate be
carried out in
the University's own facilities in departments or in the
colleges.

2. Entertainment expenditure may only be an appropriate use
of university
money and avoid tax liability if it is incurred wholly,
necessarily, and
exclusively for university purposes. A schedule must be included
with the
claim which gives details of those entertained and their
institutions and the
purpose of the entertainment.

3. All expense claims for entertaining, which must be
supported by vouchers,
must be authorised by the head of department or institution or
chairman of the
board or committee (except where the head or chairman is the
claimant, when
alternative arrangements must be made - see 20, cl. 7 above).
The
authorising and submission of a claim for payment for
entertaining is a
declaration that the cost was incurred wholly, necessarily, and
exclusively
for university purposes. Only on this basis can the Finance
Division pay the
claim in full without deduction of tax.

4. In authorising entertainment expenditure, heads of
departments and
institutions and chairmen of boards and committees are also
undertaking that,
if in any case tax is subsequently levied, any cost which is not
recoverable
from the individual beneficiaries will fall on the budget of the
department,
institution, board, or committee concerned.

5. Advice on payments for entertaining may be obtained from
the Deputy Chief
Accountant in charge of Departmental Accounts.

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§ 23. Salaries and Staff
Appointments

1. The University Statutes state that no one shall have
authority to offer
any person employment as a member of the University's
academic-related or
non-academic staff, or to sign letters of appointment for such
academic-related and non-academic staff, or to dismiss such
non-academic
staff, except with the express consent of Council and provided
that

(a) any offer of employment shall be on the
appropriate terms and conditions
of employment for the category of staff concerned; and

(b) any dismissal shall have complied with the
appropriate procedures for the
dismissal of non-academic staff
(Tit. X, Sect. II, cl.
1).

Council has delegated its powers to the Staff Committee and
to the chairman
and officers of that committee.

2. All university academic-related and non-academic employees
shall have a
properly authorised letter of appointment whose form has been
approved by, or
under the authority of, the Staff Committee.

3. Academic members of staff shall have a properly authorised
letter of
appointment issued by the Secretary of Faculties or the
Registrar.

4. No member of staff may be given a contract of employment
for a period
exceeding that for which funding is available fully to support
the post, or
posts, to which he or she is appointed.

5. The only payments which may be made to university
employees are those
which relate to the operation of approved university salary
scales and such
other payments as have been specifically approved by the General
Board or the
Staff Committee.

6. All university employees shall be paid through the payroll
operated by the
Salaries Office of the Finance Division.

7. Each head of department or institution and each secretary
of a board or
committee which has staff paid through the university payroll
must supply the
Salaries Office with a Register of Authorised Signatures for the
authorising
of salary documents. The register may have limits to any
individual's
authority. Each entry on the register must be signed or
initialled by the head
of department or secretary. The register shall be kept up to
date. Where the
proposed authorised signatory is not a university employee the
approval of the
Secretary of the Chest is also required.

8. All documents sent to the Salaries Office authorising the
payment of new
employees or subsequent changes to their salary or other details
must be
authorised in accordance with the relevant Register of Authorised
Signatures.

9. If it is proposed to employ a citizen of a country which
is outside the
European Economic Area (EEA), it is the responsibility of the
head of
department, or other authorised signatory:

(a) in the case of a person at present in the UK, to
ensure that the landing
conditions imposed on that person by the Immigration and
Nationality
Directorate of the Home Office allow the proposed employment; or

(b) if the person is not in the UK, to obtain through
the central
Administration a work permit from the DfEE for the specific
employment
proposed.

The Work Permit and Immigration Help Desk within the Central
Administration
will handle centrally any applications which may be necessary and
will advise
on the detail and documentation required. (It should be noted
that the DfEE
will normally require, to support a successful application,
evidence that the
vacancy was advertised in an approved publication available in
the EEA.)

The Salaries Office will not add a non-EEA citizen to the
payroll unless it
is clear that any necessary work permit has been obtained or that
the
immigration status of the person concerned does not require the
University to
seek permission for the specific employment proposed.

10. Any circulars issued by the Secretary of the Chest on
taxation or national
insurance matters must be complied with to ensure that the
requirements of the
Inland Revenue and Department of Social Security are met and to
protect the
University from financial loss.

11. Advice on academic-related and non-academic staff
appointments may be
obtained from the Personnel Services Section of the Central
Administration, on
academic appointments from the Secretary of Faculties or the
Secretary of the
Appointments Committee of the General Board, and on salaries from
the Salaries
Officer in the Finance Division.

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§ 24. Stocks

1. Each head of department or institution and each board or
committee is
responsible for establishing procedures to ensure that stocks are
adequately
protected against loss or misuse. Stocks should be maintained at
the minimum
level required to support operations.

2. Where stocks are included in Oxford Limited a physical
stock count must be
conducted at least once a year, preferably at 31 July. The Deputy
Chief
Accountant responsible for the accounts of Oxford Limited should
be informed
in advance of the date of the stock count.

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§ 25. Equipment and Furniture

1. Each head of department or institution and each board or
committee is
responsible for establishing procedures to ensure that all items
of equipment
and furniture are adequately protected against loss and misuse
and that all
purchases and disposals of equipment are properly authorised,
accounted for,
and recorded.

2. Equipment inventories must be maintained and be able to
satisfy the
requirements of the General Board's Research and Equipment
Committee or of the
Curators of the Chest as determined from time to time.

3. Equipment and furniture grant funds may be used only for
approved purposes
in accordance with HEFCE regulations, and departments,
institutions, boards,
and committees shall follow the rules and guidelines on the
allocation and
expenditure of their equipment grants (whether recurrent or non-
recurrent),
and on their equipment stock, as laid down by the General Board's
Research and
Equipment Committee from time to time.

4. Equipment bought from research grants and contracts
belongs to the
University, unless there is explicit provision to the contrary
in the relevant
contract, and is available for use in the relevant department or
institution
at the expiry of the grant subject to any conditions imposed by
the funding
body.

5. Any proceeds from the sale of equipment which was
originally purchased
using Equipment Fund moneys must be returned to that fund, but
will normally
be credited to the equipment account of the department concerned.

6. Where equipment is loaned, departments, institutions,
boards, and
committees should have procedures in place to ensure that it is
returned in
good condition, and should consider the need for the borrower to
arrange
insurance cover.

7. If a department, institution, board, or committee wishes
items of
equipment to be covered for all-risks insurance and not just
fire, etc. (aircraft, explosion, riot and civil commotion,
malicious damage, and
earthquake), it must arrange this with the Insurance Section in
the Central
Administration. The department or institution will be charged the
premium. It
should also notify the Insurance Section of disposals so that
unnecessary
premiums are not paid. The acquisition of individual items of
equipment worth
more than £500,000 should be notified to the Insurance
Section.

8. Departments and institutions must not enter into leasing
contracts for
equipment without taking the advice of the Central Purchasing
Officer in the
Central Administration, who has prepared a standard contract.

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§ 26. University Vehicles

1. No university-owned vehicle may be used unless it is
insured for the
purpose for which it is being used and has a valid Department of
Transport
Certificate where required, and the driver is qualified to drive
the vehicle.

2. University-owned vehicles may be used only by persons and
for purposes
authorised in writing by the head of department or institution
or on behalf of
the board or committee. Departments, institutions, boards, and
committees
should keep a record or authorised drivers. University vehicles
should not
normally be used for travel to and from work and they should be
left on
university premises at night. Where the use of university
vehicles is
authorised for travel to and from work and they are not left on
university
premises at night, any employee of the University is likely to
be taxed on the
benefit enjoyed.

3. Where private use is allowed, the terms and conditions of
use and
reimbursement of costs must be authorised in writing by the head
of department
or institution or on behalf of the board or committee, and the
person granting
such authorisation is also responsible for ensuring that there
is still
comprehensive insurance cover.

4. All acquisitions and disposals of university vehicles must
be notified to
the Insurance Section of the Central Administration so that the
insurance
cover can be amended.

5. Sales of vehicles should be advertised beyond the
department, institution,
board, or committee making the sale as well as within.

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§ 27. Buildings

1. The Decrees of the University state that the
Buildings Committee shall be
responsible to Council and the General Board for formulating and
reviewing the
University's programme for all building works, for the execution
of all
building projects, for maintaining university buildings in a
satisfactory
condition, and for allocating space within them
(Ch. II,
Sect. II, § 3, cl.
2).

2. All new functional building works, however funded, require
the permission
of the Buildings Committee.

3. The Current Standing Orders for Building Tenders must be
observed.

4. HEFCE instructions for Estates Procedures must be complied
with for
HEFCE-funded projects.

5. European Commission public procurement directives on
supplies, services,
and works must be followed.

6. Advice on building matters can be obtained from the
University Surveyor.

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§ 28. Investments

1. The Decrees of the University state that the
Curators of the University
Chest shall on behalf of Council, arrange for the investment of
funds and
endowments of the University in accordance with Tit. XIV, Sect.
V, cl. 2, or
in accordance with the Trusts Pool Scheme, and according to the
advice of an
Investment Committee
(Ch. II, Sect. I, § 6, cl. 6).

2. The Investment Committee shall report to the Curators of
the University
Chest each term.

3. The curators shall report to Council once a year on their
investment
policy and the performance of the University's investments.

4. No department, institution, board, committee, or trust of
the University
may invest in any securities or other investments (including
land) without the
permission of the Curators of the University Chest.

5. The Curators of the University Chest manage the Trusts
Pool Scheme, which
is designed for long-term investment, and shall approve all new
shareholders
and increases in shareholdings. The terms of the pool are
included in the
University's Statutes and Decrees (Ch. VIII, Sect. VIII).

6. The Investment Committee shall make recommendations to the
Curators of the
University Chest on the appointment of managers of investments
and the
investment powers of the officers of the Finance Division for the
approval of
the curators.

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§ 29. Property

1. Functional Property. The authority of Council is needed
for any offer to
purchase land or property (whether freehold or leasehold) for the
functional
use of the University.

All contracts for the purchase of land or property for the
functional use of
the University (whether freehold or leasehold) and all sales of
existing
functional land and property must be effected by the University
centrally on
the authority of Council.

2. Non-functional Property. The Curators of the
University Chest have charge
of all real property which is not in use for the functional
purposes of the
University and may purchase, lease, and sell real property for
investment or
other non-functional purposes on behalf of the University. The
Estates
Committee, which is a committee of the curators, assists and
advises the
curators in this responsibility.

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§ 30. Borrowing Powers

No department, institution, board, or committee of the University
may borrow
moneys without the permission of the Curators of the University
Chest.

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§ 31. Research Grants and
Contracts and Related Matters

1. All applications to outside bodies for research funds must
be submitted
for university approval to the Research and Commercial Services
Office in the
Central Administration before being despatched to the sponsor.
The Research
and Commercial Services Office is also responsible for
negotiating, and
entering into, research and other contracts on behalf of the
University.

2. The University's policy of disclaiming liability under
research agreements
and obtaining indemnities from sponsors must be complied with.

3. The University's policy on the charging of overheads, and
the distribution
of those overheads between departmental and central funds, must
be followed
when research grants and contracts are being costed.

4. The University's policies covering all aspects of research
funding and
related activities must be complied with. Further advice on such
policies is
available from the Research and Commercial Services Office.

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§ 32. Personal Consultancies

1. Academic staff may without loss of stipend engage in
personal consultancy
work with the approval of the relevant faculty board and head of
department in
departmentally organised faculties, provided that the amount of
time spent on
these and other outside appointments does not exceed thirty days
per annum.
Applications for permission to spend more than thirty days per
annum on
outside appointments (including consultancies) need the approval
of the
General Board and may result in loss of stipend. Academic-
related staff may,
subject to the same annual limit of thirty days, also engage in
personal
consultancy work with the approval of their head of department,
`line
manager', and sponsoring body (if applicable).

Advice may be obtained from the Secretary of the Appointments
Committee of
the General Board or faculty board secretaries in respect of
academic staff
and from the Personnel Services Section in respect of
academic-related staff.

2. The terms of any personal consultancy agreement must be
vetted by the
Research and Commercial Services Office in the Central
Administration unless
the University's standard form of consultancy agreement is used.
Advice can be
obtained from the Research and Commercial Services Office.

3. Employees of the University must not hold themselves out
as acting on
behalf of the University when undertaking personal consultancy
work. The
University accepts no responsibility for work done or advice
given. Once
approval to hold a consultancy is given, appropriate disclaimers
of liability
will be issued on behalf of the University by faculty board
secretaries or the
Secretary of the Appointments Committee of the General Board in
respect of
academic staff and by departments in respect of other staff.

4. Employees of the University engaged in personal
consultancy work are
covered by the University's professional indemnity insurance only
if the
permission of the University has been obtained and the fees
receivable
declared to the insurers. Advice should be obtained from the
Insurance Section
in the Central Administration.

5. The University's policy on the payment to employees for
consultancy and
services to industry must be complied with.

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§ 33. Intellectual Property

1. Except with the express consent of Council, no
official of the University
or any other person employed by the University or working in or
in connection
with any department of or under the control of the University
shall in
connection with any invention, discovery, or patent, or (save
under the
authority of the Delegates of the University Press, in matters
falling within
their jurisdiction) process or manufacture have authority to make
any
representations on behalf of the University or to enter into any
contract on
behalf of the University or to be concerned in any transaction
whatsoever in
connection therewith on behalf of the University
(Tit.
X, Sect. III, cl. 1).

2. Revenue received by the University as a result of the
exploitation of any
item of intellectual property shall be distributed in accordance
with the
University's Intellectual Property Policy.

3. Advice on intellectual property matters should be obtained
from the
Research and Commercial Services Office.

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§ 34. University Companies

Council shall approve the setting up of any university companies
to exploit
any university activity to which the University has rights, or
for any other
purpose. Advice should be obtained from the Secretary of the
Chest.

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§ 35. Commercial Activities

No non-university commercial activities may be carried out on
university
premises and no university facilities may be used for such
activities unless a
definite agreement between the University and the persons
concerned has been
approved by the Curators of the University Chest. In no
circumstances may
departmental or institutional addresses be used for
non-university commercial
activities. Advice should be obtained from the Secretary of the
Chest.

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§ 36. Private work by
Departmental Staff for Other Departments

1. When departmental staff in their spare time undertake
private work for
other departments involving the use of departmental facilities,
proper
invoices in respect of any charges which may be made for such
work must be
prepared, and submitted to the head of department by which the
member of staff
is ordinarily employed for approval and signature. Payment will
be made
through the university payroll unless a Schedule D tax reference
for the trade
has been obtained in writing from the Inland Revenue. Advice can
be obtained
from the Deputy Chief Accountant in charge of Departmental
Accounts.

2. Where the head of department allows private work to be
carried on in the
department for other departments, written rules should be drawn
up and made
readily accessible to all members of staff. The cost of any
materials provided
should be recovered, and care taken that safety procedures are
observed.
Advice may be obtained from the Internal Audit Section.

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§ 37. Private Patients' Fees

Persons holding honorary consultant appointments in the
National Health
Service in clinical departments are permitted to engage in
private practice in
accordance with the Decrees of the University, which include
provisions
governing the treatment of private patients' fees
(Ch.
VII, Sect. V, § 1, cl.
3). Advice can be obtained from the Secretary to the Medical
School.

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§ 38. Insurance

1. The University is required by its Financial Memorandum
with HEFCE to have
adequate insurance cover.

2. Central policies are held for the insurance of buildings
and contents
(except library holdings and certain museum collections)
against fire, etc.
(aircraft, explosion, riot and civil commotion, malicious
damage, and
earthquake), public and employer's liability, professional
indemnity, and
fidelity; these are paid for centrally by the University.
Additionally, the
University's Insurance Section administers policies which include
those
providing `all risks' cover on scientific and office equipment
and computers
(see § 25, cl. 7), motor insurance, and travel; the cover
needs to be
requested by departments, institutions, boards, and committees,
which are
charged for the premium.

3. There is no cover for personal accident or personal
belongings unless the
department, institution, board, or committee makes its own
arrangements.

4. Advice on insurance matters should be obtained from the
Insurance Section
in the Central Administration.

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§ 39. Value Added Tax

1. The University is a partially exempt registered taxable
body and has a
legal obligation to account properly for Value Added Tax (VAT)
and to make
correct returns to the Customs and Excise. Each department,
institution,
board, or committee is responsible for its own VAT affairs, and
all heads of
departments and institutions and all boards and committees must
submit correct
and timely returns of VAT and other legally required data to the
Finance
Division for inclusion in the University's returns to Customs and
Excise.

2. Information on VAT and related matters is available from
the circulars
produced by the Finance Division, and advice is available from
the VAT Officer
in the Finance Division.

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§ 40. Waivers

Where a person entitled to a fee or other payment due from the
University
decides to waive it, the fee or other payment must be completely
waived
without condition as to what happens to the waived fee or other
payment. The
Statutes, Decrees, and Regulations of the University do not in
general allow
payment to persons and bodies other than the person to whom it
is due. Also,
unless the waiver is without condition it will continue to be
taxable income
of the individual to whom it is due. Advice should be sought from
the Deputy
Chief Accountant in charge of Departmental Accounts.

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§ 41. Removal Expenses

1. The Decrees of the University state that the
Curators of the University
Chest shall pay contributions towards removal and travelling
expenses incurred
by persons taking up approved posts in the University on such
conditions as
Council may from time to time prescribe
(Ch. VII, Sect.
IX).

2. Application must be made to the Secretary of the Chest
before expenditure
is incurred or authorised by the new post-holder. Advice should
be sought from
the officer in charge of removal expenses in the Finance
Division.

3. Departmental, institutional, board, and committee funds
may not be used
either to fund the removal expenses of individuals not covered
by the scheme
operated by the Curators of the University Chest or to supplement
the
allowances paid by the curators.

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§ 42. Appeals from Charitable
Organisations

1. Council has empowered the Curators of the University
Chest, without
reference to Council, to make grants from the General Fund in
response to
appeals from educational or charitable organisations of direct
concern to the
University in Oxford or in places where the University owns land
or is patron
of a benefice, provided that Council is consulted on any case of
doubt or
difficulty or involving a grant of more than £1,000.

2. The funds of university departments, institutions, boards,
and committees
may not be used to make charitable donations or grants.

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§ 43. Fees

The Decrees of the University state that no person shall
be presented for a
degree unless he or she has paid all the sums due from him or her
to the
University
(Ch. I, Sect. I, § 1, cl. 1 (a)).

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§ 44. Sealing

The Seals of the University shall be used in accordance with the
Statutes,
Decrees, and Regulations of the University.

[Note. A list of the various officers in the
Central Administration who are
currently responsible for the functions referred to in these
regulations is
appended to the regulations in the printed booklet containing the
regulations
which is circulated from time to time to heads of departments and
institutions
and secretaries of committees and boards. The most recently
issued edition of
this list is also obtainable from the Secretary of the Chest on
request.]

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