Financial operations and controls relating to COVID-19
The Finance Division, and the services it delivers, covering management accounting, financial planning, payroll and pensions, accounts payable, income management, procurement and tax advice, continues to operate as normal despite the University shutdown due to COVID-19. The division’s staff and management team are all now working from home, contactable as usual including via telephone, e-mail, Skype or Microsoft Teams.
The COVID-19 pandemic presents the University with a significant financial challenge which we are working hard to manage. In that context, the need for effective financial operations and tight controls has never been more important.
As a result of the COVID-19 pandemic, and its impact on University finances, the Executive Board has made the decision to tighten up our non-pay spend controls, including in relation to the purchasing of goods and services. This includes additional approvals for purchase orders, reduced transaction limits on purchasing cards, and a requirement for the relevant Executive Board member to support any purchase over £5k.
The University’s No Purchase Order, No Pay Policy, which makes purchase order our default transaction mechanism (detailing where exceptions are allowed, including where a purchasing card may be used), continues to apply.
Our Procurement Regulations, including competition/waiver requirements based on total estimated contract values and the associated approval requirements, also continue to apply.
Here follow some helpful FAQs in relation to these new controls. If you have any further queries then please contact email@example.com