Introduction to the Financial Procedures Manual

[Pages:7]Introduction to the Financial Procedures Manual

Financial Procedures Manual ? Chapter 1

Also available online at

Version 3: April 2016

Introduction to the Financial Procedures Manual

Version History

Version Issue number date

3.0

Apr-16

Comments Updating of links in sections 1 and 4. Reformatted in new house style

Finance Division Version 3, April 2016

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Contents

Introduction to the Financial Procedures Manual

1. Purpose of the Financial Procedures Manual .............................................. 4 2. How to use the procedures.......................................................................... 4 3. Overview of the Financial Procedures sections ........................................... 5 4. Staff contacts............................................................................................... 7

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Introduction to the Financial Procedures Manual

1. Purpose of the Financial Procedures Manual

Financial Procedures Manual (FPM) is a guide to best practice for all staff with responsibilities for finance administration. The procedures complement:

The University's Financial Regulations

These set out the mandatory rules and framework for financial activities which all University staff must adhere to.



The University's Policy Against Bribery and Corruption

The University is committed to ensuring that high standards of integrity apply in all of its areas of operation and that all of its business is conducted in an honest and transparent manner.



Payment Card Industry Data Security Standards (PCI DSS)

An auditable set of standards designed to ensure certain card data is stored securely by us and any third party which stores, transmits or processes such card data on our behalf.



UFS Training Manuals

Primarily designed to accompany courses, these provide more in-depth guidance on processing transactions and extracting information from the University Financial System.



2. How to use the Procedures

Use individual sections/chapters for guidance on specific procedures, or use the Financial Procedures as a whole to provide a comprehensive overview of best practice when administering the University finances.

The Financial Procedures are also available on the Finance Division's website at:

In addition, Best Practice Guides are also available at the above address offering examples and common scenarios of the procedures in practice.

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Introduction to the Financial Procedures Manual

3. Overview of the Financial Procedures chapters

Chapter

Description

1 Introduction

Explains the purpose and the contents of the manual.

2 Budgetary planning Includes Total Budgeting, RAM, Non-recurrent grants, management

and control

reporting and budgetary control, costing and pricing.

3 Chart of Accounts for Explanation of the UFS coding structures and how to use them. the UFS

4 Purchasing procedures

Procedures and guidance for buying goods and services including tendering, EU regulations, the purchasing cycle.

5a Employment status Procedure for paying individuals through the UFS system.

5b Expenses and benefits

Explanation of the University regulations, policy and procedures in respect of reclaiming expenditure incurred by employees and identification of tax consequences.

6 Non-pay expenditure Includes procedures for supplier payments and credit cards.

7 Cash and banking procedures

Includes Cashier's service, Petty Cash, Foreign Currency.

8a External trading and Outlines trading activities concentrating on the sales of goods and

credit control

services to external customers.

8b Internal Trading

Processing using UFS goods and services brought and sold from other University departments.

9 VAT and other taxes VAT and tax implications on income and expenditure transactions.

10 Month-end guidance Explains procedures for month-end accounting and reporting.

11 Year-end instructions Explains key procedures and timetable for preparing departmental year-end accounts.

12 Investments

Procedures for investing in the Cambridge University Endowment Fund (CUEF) or in the University Deposit Account.

13 Trust funds

Administrative procedures for the financial management of trust funds.

14 Accounting for

Guidance for donation receipts and expenditure against such funds.

donations and grants Also includes grants received from charitable trusts and

Government bodies.

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Introduction to the Financial Procedures Manual

15 Inventory

Accounting procedures for inventory and stock management.

16 Fixed Assets

Accounting procedures for fixed assets.

17 Expenditure on buildings

Procedures for managing Major Projects and Minor Projects and building maintenance.

18 Insurance

Guidance on ensuring the University is adequately protected from risk and procedures for insurance claims.

19 Research Grants

Procedures for financial management of research grants.

20 Compliance Issues and Procedures

Guidance on Financial Regulations, Internal and External audit, reporting fraud and retention of accounting records.

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4. Staff contacts

Introduction to the Financial Procedures Manual

The following contacts are available to provide further advice and support.

Helpdesks Accounts Payable Accounts Receivable Cash Management Finance Reporting Fixed Assets General Ledger codes General Ledger journals General Ledger reporting Inventory iProcurement New customers / amendments New suppliers / amendments New user access Research Accounting Research Grants

UFS general enquiries

Tel

Email

66888 UFS_AP@admin.cam.ac.uk

32215 AR@admin.cam.ac.uk

65980 UFS_CM@admin.cam.ac.uk

65098 FIN_Reporting_Helpdesk@admin.cam.ac.uk

66780 UFS_FA@admin.cam.ac.uk

39660 ufsglcodes@admin.cam.ac.uk

39660 UFS_GLJ@admin.cam.ac.uk

65098 UFS_GLR@admin.cam.ac.uk

66780 UFS_INV@admin.cam.ac.uk

65101 UFS_PO@admin.cam.ac.uk

65872 ARCustomer@admin.cam.ac.uk

65097 ufs_suppliers@admin.cam.ac.uk

65999 UFS_users@admin.cam.ac.uk

-

UFS_Grants@admin.cam.ac.uk

Your Departments' Research Support Advisor/Administrator can be found at the following link:

65999 UFS_enquiries@admin.cam.ac.uk

School and Institutional contacts:

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