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Financial Management Practices Manual

Under Sections 61, 62 and 63 of the Financial Accountability Act 2009, the University, as a statutory body must ensure its operations are carried out effectively, efficiently and economically. The University must establish and maintain appropriate systems of internal control, keep funds and accounts in compliance with prescribed requirements, undertake planning and budgeting and prepare annual audited financial statements and reports.

Furthermore under Section 16 of the Financial and Performance Administration Standard 2009, the University is required to prepare and maintain a Financial Management Practice Manual (FMPM) which will be developed in accordance with the Act, the Standard, relevant legislation, Accounting Standards, best practice and associated internal policies.

The FMPM is formed by a number of individual but related policies. The FMPM is the authoritative internal source of information and guidance, designed to assist the University manage its financial resources and meet its financial responsibilities, and to assist University staff meet their financial compliance requirements. The FMPM is regularly reviewed and updated by staff in Financial Services. Should you have any questions regarding the University’s FMPM please contact Finance Support Officer who will address any issues with the relevant content experts.

Financial Management Practice Manual (FMPM) contents:


Financial Management and Accountability Policy 
 Financial Delegations Schedule
 Financial Reporting  Cash Management
 Financial Reporting Policy  Banking Policy
 Financial Reporting Procedure  Banking Procedure
 General Ledger Journal Procedure  
 Information Systems Financial Management Procedure  Cash Floats Policy
   Cash Floats Procedure
 Revenue Policy   
 Revenue Procedure   Interest Bearing Funds Policy
   Interest Bearing Funds Procedure
 Costing and Pricing Policy   
 Costing and Pricing (General) Procedure  Investments and Cash Management Policy
 Costing and Pricing (Research) Procedure  Investments and Cash Management Procedure
 Internal User Charging & Cost Recovery Procedure  
   Petty Cash Policy
 Expenditure Policy  Petty Cash Procedure
 Expenditure Procedure  
   Receipting and Collection of Monies Policy
 Assets Policy  Receipting and Collection of Monies Procedure
 Assets Procedure  
   Debt Management
 Impairment of Assets Policy  Accountable Advances Policy
 Impairment of Assets Procedure  Accountable Advances Procedure
 Intangible Assets Policy  Credit Control & Debt Management - Trade & Commercial Customer Policy
 Intangible Assets Procedure  Credit Control & Debt Management - Trade & Commercial Customer Procedure
 Inventory Assets Policy  Excess Payments Policy
 Inventory Assets Procedure  Excess Payments Procedure
 Portable and Attractive Items Policy  Leasing Policy
 Portable and Attractive Items Procedure  Leasing Procedure
 Property, Plant & Equipment Assets Policy  Refunds - Trade and Commercial Customer Policy
 Property, Plant & Equipment Assets Procedure  Refunds - Trade and Commercial Customer Procedure
 Liabilities Policy  Procurement
 Liabilities Procedure  Corporate Credit Card Policy
   Corporate Credit Card Procedure
 Borrowings Policy  
 Borrowings Procedure  Procurement and Purchasing Policy
   Procurement and Purchasing Procedure
 University Buying Strategies and Practices Schedule
 Insurance Policy
 Insurance Procedure
 Professional Services Policy
 Insurance Categories and Claims Notification Process  Schedule
 Professional Services Procedure

 Taxation Policy

 Taxation Procedure
 Existing FMPM to be replaced by other Departments Policies:
 Fee assessment and distribution;  Hospitality and entertainment;  Contract Management
 Existing FMPM to be replaced by Financial Services local procedures
 Budgeting (Financial Management); Carry forward balancesPlanning;