Finance and the Financial Regulations Alicia Calvert Finance Operations Manager

Financial Regulations Does this apply to me? –Financial regulations are part of our contract of employment –A breach of the financial regulations may be subject to disciplinary action –Covers the whole University – all departments and functions –Linked to our Charter & Charity status

Financial Regulations – the big picture Royal Charter 1965 University of Warwick Charities Act 2006 HEFCE Statutes Financial Regulations and Procedures (22 in total)

FP1: Conflicts of Interest Applies to all staff. Annual declaration, departmental register. Applies when you have a personal interest that could conflict or be thought to conflict with your responsibilities as a University employee. Gifts, hospitality, purchasing decisions, trading arrangements.  Staff should manage or avoid conflicts Disclose, Take Advice, Step Away.  Includes conflicts arising through family members, friends or other associates

FP15: Purchasing Value for money, within purchasing rules.  Economy, efficiency, effectiveness Seek assistance  from Finance Office & Purchasing Office. Approved suppliers must be used where they exist for the goods/ service required. Tendering & quotes - £10k, £25k Purchase orders raised before you commit the University to buy. No personal purchasing, either for own use or in the hopes of repayment.

FP16: Staff related expenditure Employment and remuneration policy. –Contact HR Guidance about reimbursement of expenses. –Contact Expenses Manager HMRC agreement. Actual cost, necessarily incurred. Check approval and funding first before spending. Original receipts, download forms, 3 months to claim.

Where to find out more… Follow-up training Read the Regs through the Finance Office website Discuss any difficulties you encounter with the new Financial Regulations with your Finance Regulations Champion (see website) Contact Janet Keene – Finance Office Administrator /