1. Overview
Adelaide University has been entrusted with public and private funds to fulfil its mission of learning and teaching, research and community engagement. In carrying out activities to support its mission, the University must comply with specific financial administration, accounting, control, management, audit and reporting requirements, as specified in legislation and by various government and auditing agencies including the Audit Office of South Australia.
To assist the University to meet these requirements, this policy and a series of detailed procedures have been developed. Their purpose is to ensure that University funds and resources are used only for University purposes, and that appropriate financial controls are developed, documented and applied to prevent the abuse or misuse of University funds and other resources.
This policy sets out the principles of financial management which underpin all financial activities undertaken by, and within, the University. The detailed procedures are included on the Policy website.
2. Scope and Application
This policy applies to the Adelaide University community.
3. Policy Principles
3.1 Authorisations
No Adelaide University funds may be committed or expended except by approval of a University staff member with documented authority to approve, in accordance with the University’s financial delegations.
Where a financial delegate has a direct or personal interest in a transaction, neither the delegate, nor any other delegate who reports to them, may approve that transaction.
3.2 Use of University funds
Adelaide University funds must only be expended on goods and services for approved University purposes.
All tendering and procurement activity, including the use of University preferred suppliers, must be compliant with the [Procurement Policy and Procurement Procedure] and the [Domestic Contracts and Agreements Procedure] including the engagement with foreign parties.
Funds from external sources tied to particular purposes, such as grant funds, must be used only for the specified purposes.
3.3 Ownership of property
All items purchased from University funds are the property Adelaide University, unless there is an agreement in writing to the contrary associated with a particular grant or contract.
Where there is a tangible asset from an agreement or service purchased with University funds, e.g. a report or model, that asset is the sole property of the University, unless there is an agreement in writing to the contrary at the time the service was engaged.
3.4 Assets
All Adelaide University assets must be prudently managed and properly documented to meet accounting, regulatory, reporting and compliance requirements and properly accounted for, in approved asset registers, where required by the [Asset Management Procedure].
3.5 Financial records
All financial transactions must be properly documented and accurately recorded in a timely manner and in accordance with Adelaide University policies, procedures and processes.
It is an offence to falsify accounting documents (including altering, concealing or destroying financial records or failure to make or amend an accounting document) either intentionally or unintentionally, to facilitate or disguise illegitimate financial transactions.
3.6 Integrity
All members of the Adelaide University community are to act in an ethical and honest manner in all aspects of procurement and financial expenditure involving University funds.
3.7 Care and use of Adelaide University property
All users of Adelaide University property must:
a) treat University property with care and consideration, in accordance with accepted community standards,
b) use University property for University purposes only, and in accordance with manufacturers’ instructions, safe work practices and any relevant University procedures, and
c) take reasonable steps to ensure University property is appropriately secure from damage, theft or misappropriation.
3.8 Compliance
All members of the Adelaide University community are required to comply with this policy and related University procedures and business processes. Failure to do so may result in disciplinary action and/or the withdrawal of University privileges, services and facilities.
4. Definitions used in our policy
Please refer to our Adelaide University glossary for a full list of our definitions.
Adelaide University community refers to a broad range of stakeholders who engage with Adelaide University and includes (but is not limited to) all students, staff, and non-staff members of Adelaide University including alumni, honorary title holders, adjuncts, visiting academics, guest lecturers, volunteers, suppliers and partners who are engaging with and contributing to the work of Adelaide University.
5. How our policy is governed
Our policy is categorised, approved and owned in line with the governance structure of Adelaide University, and the offices and officers listed below.
Title | Details |
Policy category | Council |
Approving authority | Transition Council/Council |
Policy owner | Deputy Vice Chancellor – Corporate |
Responsible Officer | Chief Financial Officer |
Policy effective from | [Take-effect date] |
Policy review date | [3/4/5 years after date this version is approved, TBC] |
Enquiries | Interim Central Policy Unit/ [Central Policy Unit] staff.policy.enquiries@adelaideuni.edu.au |
Replaced documents | None |