Historical versions 31 December 2013 to 4 May 2016 - 15 separate Accounting Policies were superseded by this Policy.
Statement on financial restrictions
Due to the economic impact of COVID-19 on the University, a series of financial restrictions are in place which will take precedence over UNSW policies and procedures for this period.
These currently include:
- Expenditure on activity under various projects and plans, including the Estate Development Plan, the Estate Improvement Plan, the IT program and the 2025 Strategy is now subject to regular review and adjustment by Management Board.
- The Management Board Recruitment Sub-committee is reviewing all proposals for new positions, replacement positions, end of contract renewals, contractor engagements and consulting spend across both restricted and unrestricted funds. No appointments or engagements may be made without this Sub-committee’s prior written approval.
- Staff should reconsider any discretionary expenditure and, as far as possible, expenditure not related to essential services should cease. Expenditure on entertainment and the engagement of consultants is specifically prohibited unless the necessary approval for exceptional circumstances is obtained from the relevant Dean or Management Board Member.
- Domestic travel is only allowed in limited circumstances. Refer to MyTravel@UNSW.
- Most University credit cards have been suspended with credit limits reduced to zero, effective from 7 May 2020. Some exceptions in each Faculty/Division, for essential business expenditure where other payment methods are not possible or for spend against restricted funds (e.g. research grants), have been communicated to your relevant Management Board member/Dean.
The impact of COVID-19 on the University is profound and subject to existing contractual obligations all staff are expected to minimise, delay or cancel any expenditure that does not relate to essential activities. If staff need assistance in relation to current contractual obligations, they may contact the UNSW Legal Office for advice.
Implementation of these measures is effective immediately. The continuation of these measures, and any changes to these measures, will be at the discretion of the President and Vice-Chancellor.