Financial Services

Trust Funds Policy

This policy defines the rules and related processes to ensure compliance with legislation, audit and financial management requirements for receiving trust funds.

Policy statement

As Trustee, the University administers the funds of several parties, including University employees, the Australian Taxation Office, private health insurers, unions, student guilds, and a number of Friends organisations. Not all of these trust funds generate income; however, all income generated by these trust funds are returned to the specific organisations.

To ensure that these trust funds are properly maintained, the University is regularly audited by both internal and external auditors.

Key controls

  • Maintain proper financial reporting to ensure income and expenses are correctly and efficiently allocated.
  • Comply with applicable legislation, contracts, agreement and program guidelines.