6. Other Senior Managers with Financial Responsibility
6.1.1 Day-to-day financial administration is controlled by the Treasurer, who is responsible to the Vice-Chancellor for the conduct of the financial business of the University and for such other business as Council may prescribe.
6.1.2 The Treasurer shall ensure that Deans, Division Heads and Budget Officers are notified of the responsibilities within these regulations and shall review and propose amendments to the regulations as appropriate.
6.1.3 Specific responsibilities of the Treasurer are described throughout these regulations and include the following:
- To propose to Council and when agreed to implement the University’s financial strategy;
- To support effective decision-making by the provision of accurate, relevant and timely financial advice;
- To promote and evaluate opportunities for the generation of income;
- To promote value for money;
- To maintain records and implement procedures to enable Council and the Vice-Chancellor to discharge their financial responsibilities, including those set out in the financial memorandum with HEFCE;
- To propose and monitor compliance with standing orders and financial regulations and to ensure that these are reviewed regularly;
- To keep financial procedures under review and to implement such systems as necessary for efficient and effective control;
- To prepare an annual report to Council, including the annual financial statements, as soon as possible after the end of the financial year;
- To prepare forecasts, budgets and estimates and to advise of the action required where there are deviations from agreed plans;
- To be pro-active in providing all members of the University who have financial responsibilities with such information and advice as they require for the proper performance of their duties.
6.1.4 The main areas in which advice is sought and details of the key contacts within the Treasurer’s department for each are given in the Treasurer’s department website.
6.2 Registrar and Secretary
The Registrar and Secretary is responsible, under the supervision of the Vice-Chancellor, for the conduct of University business.
6.3 Deans and Division Heads
Deans and Division Heads are responsible to the Vice-Chancellor for the management of their faculty, division or school. (In addition to Deans, the Vice-Chancellor, Registrar and Treasurer all hold divisional budgets). They are responsible for establishing an appropriate structure of delegated authority for financial matters through the appointment of designated Budget Officers.
6.4 Budget Officers
6.4.1 Budget Officers (including Heads of Department and College Heads of House) are accountable to the Dean or Division Head for financial management of a specified area of operation. The Treasurer will approve the financial arrangements operating within each area, including the form in which accounts and financial records are kept.
6.4.2 Budget Officers must ensure clear lines of accountability within their specified area of operation for all financial matters. Subject to the approval of the relevant Dean or Division Head, Budget Officers may delegate responsibility for the management of part of their budget to designated budget holders.
6.4.3 Budget Officers must ensure that all standing orders, financial regulations and any other financial instructions are complied with in respect of all matters for which they are accountable and that income and expenditure are controlled against approved budgets
6.4.4 Budget Officers shall provide the Treasurer with such information as may be required to enable:
- compilation of the University’s financial statements
- implementation of financial planning
- regular financial planning and reporting
- implementation of audit and financial reviews, projects and value for money studies.
6.5 All members of staff:
6.5.1 All members of staff have a duty to safeguard the University’s assets and to ensure value for money.
6.5.2 They must ensure that they operate at all times within the scope of authority which has been explicitly delegated to them and in accordance with these regulations.
6.5.3 They shall make available promptly on request any relevant records or information to the Treasurer or her authorised representative.
6.5.4 They shall immediately notify the Head of Business Assurance whenever any matter arises which involves, or is thought to involve, irregularities concerning, inter alia, cash or property of the University (see the University’s Fraud Response Policy at Internal Audit (Business Assurance) : Fraud - Durham University). The Head of Business Assurance shall take such steps as he considers necessary by way of investigation and report.
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