Financial Services

Role delineation

All University staff contribute to fulfilling the University’s financial, statutory, legal, reporting and audit responsibilities.

Policy statement 

Key function role delineation

In order to ensure that these responsibilities are fulfilled effectively and efficiently in a decentralised structure, it is essential all parties clearly understand their roles, have access to necessary information, knowledge and training and contribute to a collaborative approach.

This section aims to clarify the role relationships between Faculties/Schools/Areas and Financial Services with regard to the University’s financial management in the current operational climate. The formal recognition of roles assists in the education of staff and provides a consistent platform for the development of financial policies and procedures.

Financial Services

Financial Services financial management responsibilities include:

  • development, interpretation, implementation and review of University financial policies
  • provision of ongoing advice to the University community on matters associated with the financial management of the University
  • assessment of the impact of statutory and legal changes on the financial management responsibilities of the University and the subsequent adjustment or introduction of policy and procedural changes and/or the provision of technical advice to senior executives and University committees
  • preparation of financial reports for external and management purposes
  • preparation and co-ordination of the University’s annual budget processes
  • management of the University’s investment and endowment portfolios
  • operation, maintenance and ongoing development of comprehensive accounting and asset management systems
  • oversight of the control and safe custody of funds
  • oversight of the recording and reporting of financial transactions of the University in accordance with the provisions of the Financial Management Act 2006, the University of Western Australia Act and generally accepted accounting principles and standards

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Deans

The role of Deans in relation to financial management include responsibility for:

  • academic leadership and management of the Faculty
  • co-ordination of academic planning and resource allocation to departments and such other academic units and services within the Faculty
  • preparation and presentation of Faculty submissions for resources and the resultant administration of these resources
  • adherence by the Faculty/Schools/Business Units and other units within the Faculty to all statutory, legal and audit requirements and associated University policies
  • provision of advice to the Vice-Chancellor on matters relating to the Faculty. The authority of the Dean extends to all resources and staffing matters within the Faculty, with the exception of those matters determined centrally.

School / Business Units

The responsibilities of Schools/Business Units relating to financial management include:

  • preparation and submission of estimates of the annual operating needs of the Business Unit for staff, maintenance, equipment and research support
  • preparation and submission of estimates of annual recurrent expenditure and non-recurrent expenditure
  • preparation of the Business Unit budget for allocation of available resources within the Business Unit
  • planning and conduct of operations in an appropriate manner in order to ensure income is sufficient to cover all operating costs and liabilities
  • ensuring all assets controlled, financial records maintained and management practices used are in accordance with approved procedures and policy directions of the University
  • ensuring all liabilities incurred are limited to the financial authorities of the delegated officers concerned
  • ensuring delegations are exercised with due prudence and in the best interests of the University in accordance with the University’s financial delegation policy
  • observing the financial policies, procedures, directions of the University as promulgated in instruments such as University circulars, committee minutes and the Finance Manual
  • ensuring taxation liabilities for goods and services tax (GST), fringe benefits tax (FBT) and all other taxes are properly recognised and statutory record-keeping requirements are met.

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