All University staff contribute to fulfilling the University's financial, statutory, legal, reporting and audit responsibilities.
In order to ensure that these responsibilities are fulfilled effectively and efficiently in a decentralised structure, it is essential that all parties clearly understand their roles, have access to necessary information, knowledge and training and contribute to a collaborative approach.
Internal reporting is an essential element in fulfilling these financial responsibilities. Financial Services undertakes corporate internal reporting practices to supply relevant and timely financial data to the Senate, Committees, Executives and other relevant parties. Faculties, Schools, Centres and administrative units are also expected to develop an internal reporting structure to ensure effective financial control and management occurs and thus the fulfillment of the University's financial responsibilities.
Financial Services prepares reports for various committees and other stakeholders at the end of each quarter. Reports include:
The reports are based on the information recorded in the University's financial management information system (PeopleSoft Financials) and therefore it is important that all financial transactions are processed and correctly recorded prior to the close of the quarter end.
Financial reports are generated by Financial Services and distributed to Senate, Committees and Executives for information and comment. The following reports are currently produced based on financial information at 30 June and 31 December each year (unless stated otherwise):
Additional half and full-year reporting may be required to support information requirements of the operational objectives at the time and the review priorities of various committees. Financial Services provides reports in response to the current needs of the University's committees and executives as requested from time to time.