A-Z list of financial procedures
Capital - grants
Major Capital Grants for Building,
Refurbishment and Equipment
It is the responsibility of the Department to which the grant has
been made to ensure that only valid expenditure is charged to the grant
account in line with the terms and conditions of the agreement and
also to ensure that spending is kept within budget and time limits.
For building work the responsibility for some or all the costs may
be passed to Estates.
For equipment, any excess of costs over funding
will be charged to the Department’s operating budget
For building & refurbishment
projects, any increase to budgeted costs must be authorised by way
of a revised cost profile approved
by the relevant
Head of Department and the Director of Finance. This should make clear
where the additional funding is to come from. No further expenditure
may be committed until this is done.
Significant variations in the timing and pattern of expenditure compared
to the original profile must be notified to the Finance Office. HEFCE
require variations in expenditure of more than 50% in one month or significant
delays to be notified to them and this should be done through the Finance
The responsible Department should let the Finance Office / RSU know
as soon as the project is ‘complete’ in order that a final
claim can be submitted to the project sponsor. That claim should be
submitted by the Finance Office / RSU, but may be prepared with the
assistance of the Department.
Where a completion statement is required by the sponsor, this should
be submitted by the Finance Office / RSU in the case of equipment grants
or by Estates in the case of building grants (with a copy to Finance)
Any audit required of the financial aspects of the project should
be organised by the Finance Office / RSU. Any costs (where rules require
an external auditor) will be borne by the Department.