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Financial Code of Conduct Policy

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Section 1 - Purpose / Objectives

(1) This policy sets the minimum financial standards of conduct to be followed by Victoria University employees, contractors, associates, students and Council members in their financial dealings on behalf of the University.

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Section 2 - Scope / Application

(2) This policy applies across the University.

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Section 3 - Definitions

(3) Nil

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Section 4 - Policy Statement

(4) This Financial Code of Conduct (the code) sets the minimum financial standards of conduct expected from all people involved in any aspect of financial transaction at Victoria University. If any of the provisions contained within this Financial Code of Conduct are not fully understood, individuals should seek clarification from their line managers.

(5) Employees, contractors, Council members and students are expected to act at all times in the best interest of Victoria University and should conduct all dealings with integrity and fairness.

(6) Victoria University may apply disciplinary procedures against employees, contractors or students who are in breach of this code. Instances of non-compliance with this code may be reported to the Vice-President Finance and Chief Financial Officer (CFO) or equivalent for further action as appropriate.

Part A - Public Funds

(7) Victoria University acknowledges the responsibility it has for the administration of public funds. Victoria University emphasises to the public, the Government and to its employees, contractors, Councillors and students the importance it places upon propriety, financial control and honest administration.

(8) Victoria University has measures in place for the prevention and detection of fraud and corruption and suspected irregularities will be investigated. All University staff must report known and suspected instances of corrupt, improper or criminal conduct through the University's appropriate reporting mechanisms, as those outlined in the university's Anti-Corruption and Fraud Prevention Policy and Protected Disclosure Policy as amended from time to time.

(9) Where persons have direct responsibility for financial transactions they must be fully acquainted with the Standing Directions of the Minister for Finance pursuant to Section 8 of the Financial Management Act 1994 and comply with these.

(10) In addition, the authorisation of financial transactions must be in accordance with the university's Financial Delegations Schedule , the Purchasing Policy and Procedures , and the Contracts Framework (Policy and Procedures) .

Part B - Compliance with Finance Policies and Procedures

(11) All University staff and any other person authorised to transact financial business on behalf of the University must familiarise themselves with, and comply with, all the University's Finance Policies and Procedures. Non-compliance with Finance Policies and Procedures may result in sanctions that could include:

  1. the removal of a persons' access to the university Finance System ;
  2. the withdrawal of a person's financial delegation ;
  3. the suspension and/or cancellation of a person's credit card ; and/or
  4. disciplinary action

Part C - Declaration of Financial and other interests

(12) Persons involved in any financial business of the University must declare any personal interests (conflict of interests), which may affect or be affected by a Victoria University transaction.

(13) Actual, potential or perceived conflicts of interest must be managed in accordance with the university's Appropriate Workplace Behaviour Policy and Procedures.

Part D - Financial Inducements, Gifts and Hospitality

(14) The giving and acceptance of any gifts is to be in accordance with the university's Appropriate Workplace Behaviour Policy and the university's Gifts, Benefits and Hospitality Policy and Procedures as amended from time to time.

Part E - Tendering and Procurement Process

(15) All tendering and procurement activity must be compliant with the Victoria University Purchasing Policies and Procedures.

(16) All usage of the university corporate credit cards must be compliant with the Victoria University Purchasing (Credit) Card Policy and Procedures as well as the Victoria University Purchasing Policies and Procedures .

Part F - Use of Property, Facilities or Equipment

(17) Employees, contractors, students and Councillors of Victoria University often have access to facilities and assets, used in carrying out their official duties.

(18) Excessive personal use of any Victoria University equipment or removal of any property except mobile telephones from the work place for any purpose is not permitted without appropriate line manager approval. This permission can form part of a standing agreement (e.g.: a Work at Home plan).

(19) Any use of University facilities or assets with the primary intention of personal gain or profit is not permitted under any circumstances.

(20) Finance, Facilities and IT all have procedures in relation to the use of facilities and assets. Staff must be familiar and compliant with the various university Policies and Procedures in relation to the use of facilities and assets as issued from time to time and as shown in the University's Policy Library. Currently relevant policies are listed in the Associated Documents section of this policy.

Part G - Confidentiality

(21) Staff, contractors, students and University Councillors are expected to maintain and respect the confidentiality and privacy of financial information and other matters of a financial nature that they come across during the course of their roles. Unless authorised by an appropriately delegated officer, no one is to use confidential information for personal reasons or to benefit a third party.

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Section 5 - Procedures

(22) Accounts Payable Processes Procedure

(23) Acquittal Reporting Procedure

(24) Attractive Items Procedure

(25) Balance Sheet Ledger Account Reconciliation Procedure

(26) Bank Accounts Procedure

(27) Cabcharge Procedure

(28) Commercial Debtors Procedure

(29) Electronic Fund Transfer Procedure

(30) Financial Delegations Schedule

(31) Fixed Assets Procedure

(32) Financial Code of Conduct Policy - Fringe Benefits Tax (FBT) Procedures

(33) General Journal Procedure

(34) GST (Goods & Services Tax) Procedure

(35) Independent Contractor Procedure

(36) Investment Procedure

(37) PAYG No ABN Withholding Tax Procedure

(38) Payment of Staff Reimbursement & Per Diem Entitlements Procedure

(39) Petty Cash Procedure

(40) Prepayments Procedure

(41) Procurement Authorising Board (PAB) Procedure

(42) Purchasing Procedure

(43) Purchasing (Credit) Cards Procedure

(44) Receipting and Banking of Money Procedure

(45) Student Sponsorships Procedure

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Section 6 - Guidelines

(46) Will be developed as needed