Purpose | Government restraints limit the amount of external funding the University, and its controlled entities, can enter into in any given year. This is controlled by the Loan Council allocation granted by the State Government of Victoria through the Department of Treasury and Finance. Any breach of these allocations may lead to severe penalties and/or disciplinary action. |
Scope | All campuses excluding Malaysia
All staff
All controlled entities |
Policy Statement | No faculty, department or controlled entity is to enter into any external borrowing arrangement, including bank overdraft, without the approval of Resources & Finance Committee and/or Monash University Council on the recommendation of the Vice-President Finance and Treasurer. This recommendation will only be made should exceptional circumstances exist. |
Supporting procedures | Borrowings (including Bank Overdrafts)
|
Responsibility for implementation | Treasurer
Vice President Finance
Resources & Finance Committee
Monash University Council |
Status | New |
Key Stakeholders | Vice President Finance
Resources & Finance Committee
Monash University Council
Controlled Entities
Faculties & Departments |
Approval body | Name: Strategy and Resources Committee
Meeting: 01/2008
Date: 07-February-2008
Agenda item: 8.2
|
Endorsement body | Name: Resources & Finance Committee
Meeting: 06/2007
Date: 22-November-2007
Agenda item: 3.2.8
|
Definitions | Borrowings: any money provided by a financial institution external to Monash University |
Related legislation | Monash University Act
|
Related policies | |
Related documents | |
Date Effective | 07-February-2008 |
Review Date | 09-June-2009 |
Owner | Treasurer |
Author | Treasurer |
Contact Person | finpol@adm.monash.edu.au
|
