This page describes the general roles and responsibilities of the various units and positions of the University, as it relates to financial transactions.
Budget Manager/Signing Authority/Research Fund Holder
- Ensure funds are used in accordance with University and/or funding agency policy and guidelines
- Ensure the most effective and economical use of funds
- Monitor budgets to ensure activity is their own and balances remain positive
- Notify Financial Services of erroneous entries
- Approve requests that are complete, valid and accurate
Departmental Contact or Requisitioner
- Complete forms/requests for services accurately and fully
- Provide original supporting documentation
- Assign the appropriate FOAPAL to the transaction
- Authorize each expenditure or seek from other authorized individual
Deans/Chairs/Department Heads
- Ensure financial activity falls within overall budget
- Confirm expenditures are for University purposes and are in accordance with University policy
- Cover over-expenditures in unit-related research and special purpose funds as required
- Confirm availability of matching institutional funding where required for related research funds
Financial Services
- Provide the University community with the tools, advice and guidance to effectively manage their financial resources
- Develop financial systems and provide the relevant training to support operational and reporting needs
- Provide advice and oversight on the development and management of budgets that ensure the long term financial health of the University
- Ensure transactions are processed accurately, in accordance with University or externally applicable policy, and in a timely manner
- Provide guidance on business continuity planning
- Provide financial reports and statutory remittances to various stakeholders
- Establish policies and guidelines that ensure effective stewardship of the University’s financial resources and are in accordance externally imposed directives
- Oversees the University’s procurement of goods and services through competitive, open, fair, and transparent processes and ensures compliance with university policies and public sector legislative requirements