The regulation applies to all University employees who are entitled to create and operate a General Fund account. In most cases they will relate to staff in the Education and Research job family but in occasional cases may refer to staff members in other job families.
General fund projects can be used to receive income and overheads generated by individual university employees or groups of employees and be used to fund discretionary expenditure by that employee or group.
Income that can be credited to General Funds is limited to fees due to members of staff who have undertaken external work on behalf of the University, i.e., via CPD, royalties, short courses, or consultancy services (KA accounts). Other examples include research funds (KB accounts) or awards (KC accounts). This income should be generated by the appropriate project type and not directly credited to the General Fund.
Income credited to a General Funds remains the sole property of the University and may only be expended in accordance with University rules and policies in place at the time.
General Funds shall be used solely to support the normal academic activities of the University and its staff and students, this includes but is not limited to. - attendance at conferences - travel by University employees for academic events - acquisition of minor equipment and general consumables - staff costs of research staff where a temporary break in funding exists of no more than three months - funding of capital investment (departmental funds)
General Funds cannot be used to fund any part of the staff costs of a university employee who is connected to the General Fund, either as an individual or a group.
Any items purchased using General Funds are the property of the University and are subject to the rules and regulations covering the Procurement Policy on expenditure and assets
General Funds may not go into deficit, if this does occur then the department will be responsible for clearing any overspend to the General Fund is no longer in deficit.
Should a member of staff leave the University’s employment the General Funds generated by that staff member will remain the property of the University, this includes appointments as Emeritus Professors. Any exception must be approved by the Vice Chancellor.
General Funds cannot be transferred to another HEI.
The General Fund owner(s) are responsible to ensure income and expenditure transacted through the General Fund is done so in accordance with university rules and procedures.
Heads of Department are responsible for authorising the creation of a General Fund account for use by staff employed in their department.
Heads of Departments along with the Vice-Chancellor may in exceptional cases authorise a transfer from a General Fund to an employee who has left the University.