These Financial Regulations set out the responsibilities and policies for financial management and control within St George’s University of London (SGUL).
Introduction
The regulations cover all financial matters, irrespective of their source of funding, from minor purchases of small value to major expenditure on building projects. They apply to SGUL and all its subsidiary undertakings. In some areas, SGUL has detailed financial and purchasing procedures which set out precisely how these regulations will be implemented and these should be followed in all instances.
Compliance with financial regulations and associated procedures is compulsory for all staff, students and visitors connected with SGUL. Failure to comply may result in disciplinary action for gross misconduct which may lead to dismissal. It is the responsibility of Senior Managers to ensure that their staff are made aware of the existence and content of SGUL’s financial regulations and understand and comply with them and it will be no excuse for any staff member to claim that they did not know about the regulations.
The Financial Regulations have been authorised and approved by SGUL’s Council, on recommendation of Finance Committee. The Director of Finance (FD) will review them regularly to ensure that they remain up-to-date and effective. Changes to the Financial Regulations must be approved by Council or Finance Committee.
Where the regulations do not cover a situation or are unclear, the advice of the FD must be obtained. The FD should be notified where new legislation conflicts with these regulations.
The regulations cover the following specific areas:
- Financial Governance
- Financial Planning and Strategy
- Budget Management: Roles and Responsibilities
- Purchasing: Roles and Responsibilities
- Staff Expenditure Approval Process
- Non-pay Expenditure Approval Process
- Payroll and Pensions
- Income Collection and Treasury Management
- Income from Fees and Donations
- Research & Doctoral Training Grants & Contracts
- Consultancy and Other Services Rendered
- Assets
- Financial Accounting
- Audit
- Other Entities
Please see the full regulations for more information on these areas.