Financial Regulations, Procedures & Policies

Status of Financial Regulations

The University’s Financial Regulations set out the fundamental principles that underpin all transactions undertaken by or on behalf of the University.  The Regulations are approved by Council and are binding on all officers and staff of the University. The Financial Regulations apply to all parts of the University and all its subsidiary undertakings. These Financial Regulations are subordinate to the University's Charter and Statutes and to any restrictions contained within the Financial Memorandum with HEFCW and HEFCW’s Audit Code of Practice.

The Director of Finance will review the Financial Regulations every three years, which are to be approved by Executive along with the Resource and Planning Committee as well as the Audit and Risk Committee for final sign off by Council.

Financial Regulations - June 2023 (pdf)

Financial Regulations - June 2023 (docx)


Financial Procedures

The University's Financial Procedures Handbook sets out precisely how the Regulations are implemented and form an appendix to the Financial Regulations. The Financial Procedures Handbook does not require formal Committee approval but any changes must be approved by the Pro Vice-Chancellor Student and Staff Services and the Director of Finance and submitted to the Monthly Executive Meeting.

Should there be an apparent conflict between the Regulations and the Procedures, the Regulations shall take precedence.

The Director of Finance shall arrange for the Financial Procedures to be reviewed annually and for all proposed changes to be submitted to the Executive for approval.

Financial Procedures Handbook