This policy defines the rules and related processes to ensure compliance with legislation, audit and financial management requirements for income received from external sources not included in the below list:
University revenue is also derived from a number of other varying sources which, due to the collective size or nature of the source, is categorised as other miscellaneous income. This generally includes the following:
Other General income (it is very important that this category is not simply used as a general catch-all for funds received).
Salary contributions relate to money received from external parties (such as the Department of Health) to supplement the salaries of the University's employees. No direct obligation is incurred by the University on receipt of these funds.
Other general income must be restricted to only those items which are not included in the above list or in any of the other items listed in this section. It is not a catch-all category, rather than a category for items not otherwise recorded.
Financial Services must report these items separately as notes to the financial statements at year-end and may require breakdown to satisfy auditing requirements. For Schools/ Business Units with large material items which appear to require posting to Other General Income, contact Financial Services (Faculty Accounting) for advice prior to posting.