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A to Z of Financial Services
Accounts Payable
Section of the Finance Office responsible for processing and payment of supplier invoices, expenses, foreign payments, currency, travellers cheques, and central equipment inventory.
Contact: Accounts Payable SectionAdvances
It may be possible to get an advance payment of expenses if a member of staff has to incur substantial personal expenditure in relation to business travel and would suffer financial hardship through a delay in reimbursement. Check the Financial Regulations (Employee Expenses Section) for details.
Contact: Accounts Payable Section
Authorised Signatory
The Head of Department may delegate the duty of authorising expenditure to other individuals within the department. The Finance Office holds a master file of specimen signatures of all persons authorised and should be informed immediately of any changes that occur. A form is available to add new signatories as required.
Contact: Accounts Payable Section
Absences
Maternity, Sick Leave, Unpaid Leave. To avoid loss of pensionable service, full pension contributions need to be maintained during any period of absence e.g. half pay maternity leave, reduced salary due to sickness leave.
Contact: Pensions Section- Pensions Assistant
Additional Voluntary Contributions (For all schemes USS/PAS/NHS)
There are two types of AVC: in-house AVCs, offered by the trustees of the company pension scheme, and Free-Standing AVCs (FSAVCs) which are independent and can be bought through a financial adviser. Both types usually allow you to make single lump sum investments or to contribute regularly each month. AVCs allow you to supplement your main pension contributions so that your total contributions can be up to 15% of your annual salary. (Your contributions will qualify for tax relief, if you are taxed under the UK PAYE system).
Contact: Pensions Section- Pensions Assistant
AVC - Money Purchase Schemes
USS and NHS Pension schemes: Arrangements are in place with other AVC providers for members who wish to increase their pension benefits. Please see attached links for further information;
http://www.usshq.co.uk
http://www.nhspa.gov.uk
PAS: A new money purchase arrangement is now available, administered by the Prudential Assurance Company.
Contact: Pensions Section- Pensions Assistant
Backdated Pensions Claims
Recent Government legislation has allowed members to claim for periods of part time service where they were excluded from joining their employer’s scheme. For reinstatement information.
Contact: Pensions Section- Pensions Manager
Benefit Systems
Statements are produced regularly for Scheme members. These provide service history and pension forecasts to normal retirement date. Any discrepancies or amendments should be advised on the form provided by the Scheme administrator. For all other queries:
Contact: Pensions Section - Pensions Assistant (PAS); Pensions Manager (USS/NHS)
Budget queries
The Management Accounting section answer questions about plan balances shown in SAP.
Contact: Management Accounting Section
Budgeting
The Financial Reporting section prepare budgets which are submitted annually to the funding council each July and are also used internally to monitor financial performance.
Contact: Deputy Director of Finance: Accounting Services
Cash Accounts (Departmental Development Funds)
Cash accounts include DDF, CASE and RTSG accounts; they are part of the resources available for departments to spend. The Management Accounting Section answers questions in relation to cash accounts and released balances brought forward each year.
Contact: Management Accounting Section
CASE
Research Councils make CASE awards to for one to three years' training of a research student on a project which has been approved by the Research Council. The Research Support Office administer new CASE awards.
Contact: Research Support Office
Cash Floats
The Cashier’s Office is responsible for the administration of departmental petty cash, including requests for petty cash floats and cash advances.
Contact: Cashiers Section
Cash Flow
Monitoring of the University’s daily cash flow requirements. Preparation of the annual cash flow forecast and monitoring of actual monthly cash balances against forecast.
Contact: Treasury Section - Income Accountant
Central Equipment Inventory
The Finance Office is responsible for the retirement (deletion) of assets listed on the equipment inventory.
Contact: Accounts Payable Section - Chief Clerk
Corporate Services post approvals
Processing of requests for new or replacement Corporate Services posts. The standard form should be used.
Contact: Management Accounting Section
Credit Card Forms
A credit card authorisation form is an instruction to the University to collect tuition fees in full or by instalments. Form request, queries, amendments and cancellation enquires should be directed to the Cashiers Office.
Contact: Cashiers Section
Customer Account Queries
A customer account is created when an invoice has been raised and any queries relating to a customer account should be directed to the Cashiers Office.
Contact: Cashiers Section
Death and Dependant's Benefit
In the event of death in service, Life assurance and pension benefits are payable to spouses’/ dependants/ and children. In the event of death after retirement there may be a lump sum payable if the member dies within the first five years of retirement. Spouse’s benefits are again payable.
Contact: Pensions Section - Pensions Manager
Defined Contribution Pension Scheme
A new Defined Contribution Pension Scheme – (Stakeholder Pension), Life Assurance and Permanent Health Insurance Plan is now available for all Support Staff appointed on and after 1st August 2003. Please contact the Pensions Section for further details or download the guide.
Contact: Pensions Section
Departmental Development Funds (DDF)
DDF accounts are set up to account for sums of money received in a department that may be spent at the discretion of the Head of Department. Income which may be treated in this way includes the Department share of overheads on research contracts and income due to an individual member of staff as part of a University consultancy service.
Contact: Management Accounting Section
Distance Learning Invoices
The Cashier’s Office are responsible for the collection of distance learning tuition fees and hold a copy of the student invoice. Any queries regarding tuition fees payments should be directed to the Cashiers Office.
Contact: Cashiers Section - Distance Learning Team
Employment Status Guide & Form
These guidelines will assist you with determining the employment status of a person who claims they are self employed and intend to submit invoices for work done. To download the Guide and Form -
Go to : Employment Status Referral Form
Endowed Funds
Special accounts are set up to record donations to the University where the money is donated for a specific purpose and where the donation is intended to fund the purpose over a number of years. These are referred to as The Funds.
Contact: Treasury Section - Income Accountant
Expenses
The University will reimburse employees the actual cost of expenses incurred wholly, exclusively and necessarily in the performance of the duties of their employment. The University has issued a separate document Financial Regulations for the guidance of all employees in all departments of the University. Complete form EC1 for any expense claims.
Contact: Accounts Payable Section
Financial Forecasts
Five-year forecasts are submitted to the funding council each year and are prepared for internal financial management.
Contact: Deputy Director of Finance: Accounting Services
Foreign Currency/Travellers cheques
Supply of foreign currency/travellers cheques for business travel overseas exceeding one week in duration. Requests should be submitted using the appropriate form at least four days before the foreign currency/travellers cheques are required.
Contact: Accounts Payable Section
Foreign Payments
Payments to be made to a company or individual in foreign currency by cheque or bank transfer. Payments to be made in sterling by bank transfer to a foreign bank. Wherever possible two weeks clear notice should be given before any foreign transaction. If this is genuinely not possible please contact the Accounts Payable Office to discuss the best procedure for payment. Foreign payments can be made by Bank Draft or Telegraphic Transfer. Payments are normally made by draft (the cheapest method) but urgent payments can be made by transfer.
Contact: Accounts Payable Section
FSSU Pension Scheme
This policy-based scheme is closed to new entrants. For any queries, relating to deferred FSSU benefits
Contact: Pensions Section - Pensions Manager
Gift Aid
Gift Aid is a scheme by which an individual tax payer can donate a sum of money to a charity (in this instance, the University), and the charity can then recover, from the Inland Revenue, the basic rate tax on the gift. The Inland Revenue Guide IR65 Giving to charity by individuals can be downloaded as a PDF from the IR website
Contact: Treasury Section - Income Accountant
Graduate Teaching Assistant Scheme (GTAs)
The University’s Graduate Teaching Assistant Scheme provides opportunities for research students to combine their postgraduate training with some teaching duties.
For more information go to:
Hotel Accommodation Guide for University Staff
See Local Hotel Accommodation Guide for University Staff.
Income Collection
The Cashier’s Office is responsible for the collection and recording of all University income. Income paid in by departmental staff should be accompanied by a completed remittance advice form. Any queries regarding income receipt or banking should be directed to the Cashiers Office.
Contact: Cashiers Section
Invoicing
All campus based tuition fees and related invoices (excluding accommodation) and invoices to sponsors and other external customers are raised in the Cashier’s Office. Payment enquires or queries should be directed to the Cashiers Office.
Contact: Cashiers Section
Leavers
If you are leaving University employment, please complete the appropriate leaver’s form, indicating what option you wish to take in respect of your accrued benefits, and then return this to the Pensions office.
Contact: Pensions Section - Pensions Assistant (PAS/USS/NHS)
Local Hotel Accommodation Guide for University Staff
This Local Hotel Accommodation Guide is to clarify the arrangements for staff wishing to stop in a local hotel due to work commitments. A taxable liability calculator is available with the online version of this guide.
Contact: Payroll Section - Payroll Manager
Monitoring financial performance
Each month an analysis of financial results is prepared for VCAC and the Finance and General Purposes Committee to monitor the performance against the University's budgets and forecasts.
Contact: Deputy Director of Finance: Accounting Services
NHS Pension Scheme
The National Health Pension Scheme (NHSPS) - For employees of the Medical school of academic or academic related status who are already contributing members of the scheme when they join the University.
Contact: Pensions section
Non-pay budget
Non pay budgets are allocated to departments each year to cover all costs of running the department excluding salary costs. The Head of Department is responsible for ensuring that costs stay within the budget. The Management Accounting Section answer questions about non pay budgets.
Contact: Management Accounting Section
Non pay formula/Resource Allocation
The University has a formula to allocate non-pay resources to Academic Departments
Contact: Management Accounting Section
Pension Scheme (PAS)
The Pension and Assurance Scheme is a voluntary pension arrangement for the University's support staff (clerical, technical and manual). This Scheme has been closed to new entrants since the 31 July 2003.
A new Defined Contribution Pension Scheme has been available for support staff since the 1 August 2003.
Contact: Pensions Section
Pay forecasting
The Finance Office maintain rolling forecasts of BRC and Corporate Services pay to enable the performance against the budgets to be monitored and to provide information to the committees which consider post requests.
Contact: Management Accounting Section
Payments:
Invoices – a cheque and BACS payment run is carried out weekly.
Expenses – a cheque and BACS payment run is carried out weekly.
Urgent payments – a daily payment run is carried out for urgent payments that cannot wait until the normal run. Requests for urgent payment must be submitted, attaching the appropriate form, to the Accounts Payable section before 11.00am for same day payment.
Contact: Accounts Payable Section
Payroll Giving
Payroll Giving is a way for people to give to charity. Donations come straight from gross pay before tax allowing employees to effectively increase the value of their contributions. Each £5.00 you give will only cost you £3.90, and if you are a higher rate tax payer it will only cost you £3.00. For further information see the Inland Revenue's payroll giving site or contact the Payroll Section.
Contact: Payroll Section
Pension Scheme - New members
Subject to your employment contract, you will have received a pension scheme information package from this office. If you have previously declined to join the scheme and now wish to become a member, please contact the office, as different arrangements will apply.
Contact: Pensions Section - Pensions Assistant
Prizes
The actual payment of the annual prizes is administered by the Treasury Section on receipt of the official Faculty minutes.
Contact: Treasury Section - Income Accountant
Recurrent expenditure
See Non pay budget
Contact: Management Accounting Section
Retirement
In addition to normal retirement benefits, benefits may be payable in respect of ill health and retirement before age 65. Please see the appropriate pension scheme guides for further information.
Contact: Pensions Section - Pensions Assistant (PAS); Pensions Manager (USS/NHS/FSSU)
RTSG
Research Councils make RTSG awards, which are intended to cover some costs incurred in the training of research students.
Contact: Management Accounting Section
Scholarships
Scholarships funded from a the college, Department funds or Research Council Studentship Grant such as a Doctoral Training Account should have a Form 2 (fees only) Form 3 (fees & stipend) and sent to the Management Accounting section. Those chargeable to research project codes are administered by the Research and Business Development Office, but also require a Form 2 or 3 to be completed.
Contact : Management Accounting Section
Securities and Investment Board Reviews (SIB)
Review of personal pension plans: All enquiries in respect of the mis-selling of personal pension plans
Contact: Pensions Section - Pensions Manager
Self Employment Status
See Employment Status Guide and Form.
SMART Pensions Plan
A scheme for members of the Universities Superannuation Scheme (USS). Employees' regular pension contributions to USS are made by SMART Pensions (a salary sacrifice arrangement). These arrangements produce cost savings for both the University and employees. Find out more about SMART pensions. Employees with any unanswered questions on SMART Pensions after reading the FAQs, should contact the Payroll Office by phone on ext. 2401 or by email on payroll@le.ac.uk.
Contact: Payroll Section
Specific grants
The Management Accounting Section answer questions about HEFCE and TTA specific grants
Contact: Management Accounting Section
Stakeholder Pension Scheme
A new Defined Contribution Pension Scheme – (Stakeholder Pension), Life Assurance and Permanent Health Insurance Plan is now available for all Support Staff appointed on and after 1 August 2003. Please contact the Pensions Section for further details or download the guide.
Contact: Pensions Section
Student Record System
The Cashier’s Office is responsible for the financial data contained on the student record system (SITs). Any queries regarding tuition fees or financial data should be directed to the Cashiers Office.
Contacts University Cashier Section: Cashiers
Transfers in and out of Pension Schemes
Transfers In: If you have any benefits in other pension schemes and would like to investigate the possibility of transferring this into the scheme you are currently contributing to.
Transfers Out: If you are leaving the University and would like to investigate the transfer of your accrued benefits, please complete the relevant section on the Leaver’s Option form.
Contact: Pensions Section - Pensions Assistant (PAS); Pensions Manager (USS/NHS)
Transparency Review
Time data from Academic staff is used to provide an analysis of the cost of the University's research and teaching activities. See the Transparency Review site for more information.
Contact: Financial Reporting Section
Unidentified Income
Occasionally income is received by bank credit transfer (BACS) with insufficient accompanying information to allow the funds to be coded to the appropriate department. If your department is missing income that you believe should have been received by the University please follow the link to the Income Collection page and review the latest list of unidentified income.
USS Pension Scheme
The Universities Superannuation Scheme - (USS) - for academic and academic related staff. See the USS website for more information.
Contact: Pensions Section
VAT
The University is obliged to charge VAT on some of its income but can recover VAT charged to the University in certain circumstances. A separate website has been set up to try to help colleagues with this complex and difficult area.
Contact: Taxation Section - VAT Manager
Vendor Creation Hotline:
If you wish to order from an organisation that is not listed on SAP, these details can be created on SAP almost immediately. Complete the appropriate form and send it to Accounts Payable
Contact: Accounts Payable Section
