Financial & commercial
Who approves budgets?
As part of the annual planning round, Schools, Colleges, Services and Strategic Delivery Boards submit the annual budget to Finance. The budget is agreed with the Finance Committee and endorsed by the Senior Management Group and Court
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Local budgets
- College Management Group (CoA)
- College Management Group (CoSE)
- College Management Group (CoSS)
- College Management Group (MVLS)
- Professional Services Group
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Budget Review and Finalisation
- Lead executive role: Executive Director of Finance
- Governance body: Finance Committee
- Delegated Decision Making Authority: Executive Director of Finance
- Escalation to: Court via Senior Management Group
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Final Approval
- Lead executive role: Executive Director of Finance
- Governance body: Court
- Delegated Decision Making Authority: Principal
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Who approves capital projects?
Capital projects may be included in the annual planning budget rounds, however, to ensure we make the right decision to invest in the right project at the right time, there are additional steps to include projects in our portfolio management processes. Please contact your local finance for further information.
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Capital projects less than £500k and in budget
- Estates projects
- Final authority: Executive Director of Finance
- Governance body: Capital Programme Governance Board
- Chair: Senior Vice Principal and Deputy Vice Chancellor
- Delegated decision making authority: Executive Director of Estates
- Escalation to: Estates Committee
OR
- IT capital projects
- Final authority: Executive Director of Finance
- Governance body: IT Financial Planning Group
- Chair: Vice Principal (Academic Planning and Technological Innovation)
- Delegated decision making authority: Vice Principal (Academic Planning and Technological Innovation)
- Escalation to: Information Policy and Strategy Committee
OR
- College and University Services specific capital projects
- Final authority: Executive Director of Finance
- Governance bodies
- Chair: Various
- Delegated decision making authority: Various
- Escalation to: Investment Committee
OR
- Strategy Delivery capital projects
- Final authority: Executive Director of Finance
- Governance bodies:
- International Strategy & Delivery Board
- Innovation Strategy & Delivery Board
- Civic Strategy & Delivery Board
- Sustainability Group
- Learning & Teaching Committee
- Research Planning & Strategy Committee
- Estates Committee
- Information Policy and Strategy Committee
- People & OD Committee
- Transformation Strategy & Delivery Board
- Professional Services Group
- Chair: Various
- Delegated decision making authority: Various
- Escalation to: Investment Committee
Investment Application Form Template
Examples of Investment Application Forms (coming October 2021)
Contact support for completing an Investment Application Form
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Capital projects less than £500k and not in budget
- All capital projects under £500k and not in budget must be submitted to Investment Committee via appropriate local governance
- Final authority: Executive Director of Finance
- Governance body: Investment Committee
- Local governance bodies
- College Management Group (CoA)
- College Management Group (CoSE)
- College Management Group (CoSS)
- College Management Group (MVLS)
- Professional Services Group
- Capital Programme Governance Board (Estates specific projects)
- IT Financial Planning Group (IT specific projects)
- Chair: Senior Vice Principal and Deputy Vice Chancellor
- Delegated decision making authority: Senior Vice Principal and Deputy Vice Chancellor
- Escalation to: Investment Committee
Investment Application Form Template
Examples of Investment Application Forms (coming October 2021)
Contact support for completing an Investment Application Form
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Capital projects between £500k and £3m
- Final authority: Executive Director of Finance
- Governance body: Investment Committee
- Chair: Senior Vice Principal and Deputy Vice Chancellor
- Delegated decision making authority: Executive Director of Finance
- Escalation to: Finance Committee
Investment Application Form Template
Examples of Investment Application Forms (coming October 2021)
Contact support for completing an Investment Application Form
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Capital projects between £3m and £25m
- Final authority: Court
- Governance body: Finance Committee
- Chair: Lay Member on Court
- Delegated decision making authority: Executive Director of Finance
- Escalation to: Court
Investment Application Form Template
Examples of Investment Application Forms (coming October 2021)
Contact support for completing an Investment Application Form
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Capital projects over £25m
- Lead executive role: Principal
- Governance body: Court
- Delegated decision making authority: Principal
- Submissions over £25m will be in Court Paper format
Contact support for completing an Investment Application Form
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Who approves College Equipment?
All College Equipment will be approved by the Head of College and College Head of Finance. However, in most cases, Estates are required to support installation. Will the equipment fit through the door? Will the floor withstand the weight? Is the environment correctly set up? Have all Health and Safety considerations been taken into account? All College Equipment applcations must be submitted to Estates prior to approval by the Head of College and College Head of Finance. Please contact your local finance for further information.
- Final authority: Head of College
- College Management Group (CoA)
- College Management Group (CoSE)
- College Management Group (CoSS)
- College Management Group (MVLS)
- Chair: Vice Principal and Head of College
- Delegated decision making authority: Vice Principal and Head of College
- Escalation to: Investment Committee
College Equipment Form Template
Examples of College Equipment Forms (expected October 2021)
Who approves capital budget variances?
On occasion, project budgets require additional funding. Governance remains the same as capital project approvals with a threshold set at 5% to a maximum of £3m.
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Capital projects additional funds less than £500k or 5% variance (whichever is lower) and still in the capital plan budget
- Estates projects
- Final authority: Executive Director of Finance
- Governance Body: Capital Programme Governance Board
- Chair: Senior Vice Principal and Deputy Vice Chancellor
- Delegated decision making authority: Executive Director of Estates
- Escalation to: Estates Committee
OR
- IT capital projects
- Final authority: Executive Director of Finance
- Governance Body: IT Financial Planning Group
- Chair: Vice Principal (Academic Planning and Technological Innovation)
- Delegated decision making authority: Vice Principal (Academic Planning and Technological Innovation)
- Escalation to: Information Policy and Strategy Committee
OR
- College and University Services specific capital projects
- Final authority: Executive Director of Finance
- Governance bodies
- Chair: Various
- Delegated decision making authority: Various
- Escalation to: Investment Committee
OR
- Strategy Delivery capital projects
- Final authority: Executive Director of Finance
- Governance bodies:
- International Strategy & Delivery Board
- Innovation Strategy & Delivery Board
- Civic Strategy & Delivery Board
- Sustainability Group
- Learning & Teaching Committee
- Research Planning & Strategy Committee
- Estates Committee
- Information Policy and Strategy Committee
- People & OD Committee
- Transformation Strategy & Delivery Board
- Professional Services Group
- Chair: Various
- Delegated decision making authority: Various
- Escalation to: Investment Committee
Change Request (expected end 2021)
Examples of Change Request Forms (expected end 2021)
Contact support for completing a Change Request Form
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Capital projects additional funds less than £500k or 5% variance (whichever is lower) and not in the capital plan budget
- All capital projects under £500k and not in budget must be submitted to Investment Committee via appropriate local governance
- Final authority: Executive Director of Finance
- Governance body: Investment Committee
- Local governance bodies
- Chair: Senior Vice Principal and Deputy Vice Chancellor
- Delegated decision making authority: Senior Vice Principal and Deputy Vice Chancellor
- Escalation to: Investment Committee
Change Request (expected end 2021)
Examples of Change Request Forms (expected end 2021)
Contact support for completing a Change Request Form
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Capital projects additional funds between £500k and £3m
- Final authority: Executive Director of Finance
- Governance Body: Investment Committee
- Chair: Senior Vice Principal and Deputy Vice Chancellor
- Delegated decision making authority: Executive Director of Finance
- Escalation to: Investment Committee
Change Request (expected end 2021)
Examples of Change Request Forms (expected end 2021)
Contact support for completing a Change Request Form
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Capital projects additional funds more than £3m
- Final authority: Court
- Governance Body: Finance Committee
- Chair: Lay Member on Court
- Delegated decision making authority: Executive Director of Finance
- Escalation to: Court
Contact support for completing a Change Request Form
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Who approves spend?
Please contact your local finance for further information.
| Approver | Over £500k | Between £100k and £500k | Between £50k and £100k | Between £25k and £50k | Between £1k and £25k | Under £1k |
| First Approver | Purchasing Officer | Purchasing Officer | Purchasing Officer | Purchasing Officer | Purchasing Officer | Purchasing Officer |
| Second Approver | Head of Procurement | Head of Procurement | Category Manager | Category Manager | Sub-Project Approver | |
| Third Approver | Sub-Project Approver | Sub-Project Approver | Sub-Project Approver | Sub-Project Approver | ||
| Fourth Approver | Head of School | Head of School | Head of Finance | |||
| Fifth Approver | Head of Finance | Head of Finance | ||||
| Sixth Approver | Head of College | |||||
| Seventh Approver | Exeuctive Director of Finance |
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Who approves expenses?
The approval hierarchy follows the University line manager hierarchy (in the event of prolonged absences approval can be delegated upwards following the line manager hierarchy).
You can access all information regarding our expenses procedure here:
Finance: Pay and Pensions: Expenses Procedures
All claims for payment of travel, subsistence and incidental expenses shall be completed online in the HR/Payroll system which is available here
Outline authority should always be obtained before undertaking any trip, and the sufficiency of funds checked before any booking is confirmed.
All expense claims must be approved within the system before they can be processed for payment by the Pay and Pensions Office.
Who approves procurement?
We must ensure we are transparent and comply with all regulatory requirements within the procurement process. There is a dedicated governance site for procurement:
Procurement Office Site
Additional quick links from this site are:
Who approves the establishment of companies
- Lead executive role: COO & University Secretary
- Delegated authority: Deputy Secretary & Executive Director of Planning
- Limit: £25m
- Governance body: Finance Committee
- Final authority: COO & University Secretary
- Escalation to: Court