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Guidelines on Appropriate Expenditure for Discretionary Q Funds

 

Purpose of Q/S funds

Special purpose funds relate to the grants and donations accepted by the University to finance research or contract projects, fellowships, scholarship awards and prizes.

The University encourages members of the academic staff to seek funds from external sources to supplement monies received from government appropriations.

Establishing a External/Discretionary (S/Q) Fund

Application forms are available at http://www.anu.edu.au/finance/manual/form_index.htm

Use the form Applying for Establishment of Discretionary Funds  to establish a fund where there is no formal contract or agreement and no requirement to refund unspent monies.

Use the form Application for External Funding to establish a fund where there is a reporting requirement or requirement to refund unspent monies.  University Infrastructure costs are charged at 6.4% for funds over $3000, and the Faculty may charge an additional 17% for overheads.  It is recommended that you seek advice in the first instance. 

Completed applications are to be returned to the Business Office.

 

Ownership of Q/S Funds

When money is placed in Q funds, it is emphasised that the income becomes University funds, and individual members of staff who may have contributed to the generation of the income should not have any expectation that the funds will be retained for their personal use.

Monies deposited into any University account, including Q funds, are to be used for University work-related purposed only, at the discretion of the Delegate.

Retention of untaxed funds generated by individuals for the exclusive use by the same individuals could be interpreted by the Australian Taxation Office as a device to avoid the payment of taxation by the member of staff.  The University does not condone tax avoidance through the operation of any such devices.  Delegates or Agents of delegates who establish such devices will be in breach of their fiduciary relationship with the University, and in breach of provisions of the Commonwealth Authorities and Companies Act 1997 and the Income Tax Assessment Act 1997.

Use of Funds/Approval

Deemed appropriate expenditure includes:

• Travel/Conference
• Books/Journals
• Staffing (research assistant)
• Scholarships
• Entertainment (subject to FBT requirements)
• IT Equipment (subject to approval from the Business Office and FBT requirements)

This list is not exhaustive, if you are unsure please seek advice from the business office prior to committing to the expenditure.

Equipment Ownership

University policy states that assets purchased remain the property of the University unless specific grant conditions state otherwise.

Management and Reporting

All expenditure should first be authorised by a school head.  If you are unsure, please seek advice from the business office.  Reports are produced on a bi-monthly basis and forwarded electronically.

Q and S accounts must not be overdrawn.  Items of expenditure cannot be incurred or committed that would result in an overdrawn account.

Exceptions to the above policy are only possible if:

• a written case is made to the Head of School after consultation with the Business Manager.
• Written support is obtained from the Head Of School
• The Dean subsequently approves the overdrawn account.

Exceptional circumstances would normally involve a cash flow timing problem where additional funds are expected to flow into the account but there is a need for immediate expenditure to be incurred.

 

Relevant Officer:  Faculty Business Manager