FINANCIAL POLICY & PROCEDURES MANUAL DIVISIONAL REPORTING

Transcription

1 Ollscoil na héireann, Gaillimh FINANCIAL POLICY & PROCEDURES MANUAL DIVISIONAL REPORTING Effective: 01/10/2004 Replaces: - Approved: FRC/M23 01/10/2004 Date: 01/10/ Policy 1.1 In order to enhance the financial management of its various activities, to assess the true cost of these activities and to appropriately price its services, the University will develop a divisional financial reporting structure in additional to its traditional consolidated reporting processes. This will involve the allocation and apportionment of income and expenditure to its various areas of operations in line with the scheme laid out below. Operational units to which this Policy applies are listed in Appendix I and in the main represent academic faculties, stand alone research centres and other clearly identifiable units. 2. Procedures 2.1 Income The University s Income includes general state grant, specific state grants, student fees, contract research and sundry income. This income will be allocated and/or apportioned to Units on an appropriate basis following the identification of underlying income drivers. 2.2 Direct Costs All direct costs of an operational Unit will be allocated directly to that Unit. Such costs may include specific staffing, services and consumables. Specifically approved costs such as refurbishment, recruitment, researcher costs and research centre costs may also be included under this heading.

2 2.3 Semi-direct Costs Inter-Unit Services Various Units of the University (particularly Faculties) provide services to other Units. The costs of these services will be identified and charged on a basis to be determined Indirect Costs All indirect costs will be apportioned in line with the relevant cost driver and charged annually in advance subject to adjustment at yearend where necessary. Apportionment of indirect costs will be based on the budget for the year except in circumstances where the actual outturn is significantly different to the budget. In those circumstances appropriate adjustments will be made at year-end. 2.5 Academic Support Services Costs Library The University s costs in respect of Library include the costs of books & journals, inter-library loans, service costs including staffing etc. These costs will be allocated and/or apportioned to Units on an appropriate basis following identification of underlying cost drivers Computer Services The University s costs in respect of Computer Services include network provision and servicing, security and network links etc. These costs will be apportioned on the basis of number of nodes or points of contact to the University network. 2.6 Premises Costs Costs of facilities provided to each Unit including space, utilities, building services, insurance, cleaning etc. will be charged on the basis of proportional square meterage. The calculation of space used by a Unit will be based on the net area used (i.e. gross area less circulation space). The net area used by the Unit as a proportion of the overall net space area for the University will be the rate at which specific budgeted costs are charged Space Costs Space used will be charged on the basis of rental costs, which the University incurs for similar facilities off campus. Standard

3 space charges will be reduced by a proportion, which reflects the capital contribution (if any) of the Funder of the Unit to the original cost of the facility Utilities Utility bills for the University include electricity, gas, water rates etc Insurance Insurance costs for the University include cover in respect of damage and destruction of buildings, employers and public liability, professional indemnity, etc Cleaning University s cleaning costs include direct staffing and contract staffing, consumables, etc Facilities Management The University cost in respect of facilities management include security, porterage including post, health and safety, planning and development and general management Building Services The University costs in respect of building services include general maintenance, servicing contracts, related consumables etc. 2.7 Research Support Services Costs The University s research support services costs include the Dean of Research Office, Research Accounting, and Industrial Liaison /(Contracts). These costs will be apportioned on the basis of the Unit s contract research expenditure as a proportion of the University s total contract research expenditure. 2.8 Administration Support Services Costs The University s costs in respect of general administration include the Offices of the University Management Team, pension supplementation costs, general accounting, Human Resources and other services etc. These costs will be apportioned on the basis of the Unit s total expenditure as a proportion of the University s total expenditure. The University s accounting costs include processing of all receipts and payments, audit and regulatory matters as well as financial planning and budget monitoring services.

4 The University s costs in respect of human resources include the processing of all appointments, application of employment law and regulation, training and development, etc. 2.9 Other costs To be identified and apportioned as appropriate. Mary Dooley, 9 th July, 2004.

5 Appendix 1 List of Divisions FOR ILLUSTRATIVE PURPOSES ONLY 1. Faculties : Science Arts Law Commerce Engineering Health Sciences - Pre Clinical Medicine - Clinical Medicine - Nursing - Therapies. 2. Departments : Maths Economics. 3. Academic Units: Adult & Continuing Education Gaeilge Labhartha Acadamh na hollscolaíochta Gaeilge. 4. Research Units : MRI DERI Dainty BMES ECI REMIDI. 5. Other Units : Catering Conferencing Residences Sports.

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