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Policy: Debt management (receivables)

Purpose

To inform staff of the policy of minimising outstanding debts owed to the University.

Overview

To set out the policy for minimising outstanding debts owed to the University.

Scope

This Policy applies across the University.

Policy Statement

Principles

  1. In order to manage its resources effectively and efficiently the University must ensure that all monies owed to University are paid within a reasonable timeframe.
  2. Standard University payment terms are 30 days. Any variation must be approved by the delegate authorising the invoice to be raised.
  3. Effective debt management requires early and sustained action on debts at risk of becoming non-recoverable. Debt management shall be undertaken by Finance & Business Services, subject to advice and information provided by Colleges/Service Divisions responsible for the debt.
  4. Recovery action of salary overpayments shall be conducted in accordance with the Staff Overpayments Procedure.
  5. Only delegated officers may approve the non-recovery of a debt and then only under the following conditions:
  • the non-recovery has been authorised by an Act; or
  • the delegate is satisfied that the debt is not legally recoverable; or
  • the delegate considers that it is not economical to pursue recovery of the debt.
  1. The costs of non-recovery of a debt (including any associated costs eg. Fringe Benefits Tax) will be borne by the budget unit that raised the debt
  2. This policy also does not apply to student fee debtors (through the Student Administration System), which are processed via student enrolment rules and processes, or accommodation debtors which are processed in University Accommodation systems.

Delegations relevant to this policy

  • 000242: Declare debts irrecoverable and approve recovery of debts by instalment.

Information

Printable version (PDF)
Title Debt management (receivables)
Document Type Policy
Document Number ANUP_000401
Version 4
Purpose To inform staff of the policy of minimising outstanding debts owed to the University
Audience Staff
Category Administrative
Topic/ SubTopic Finance - Debtors
 
Effective Date 4 Mar 2011
Review Date 4 Mar 2014
 
Responsible Officer Chief Financial Officer
Approved By: Vice-Chancellor
Contact Area Finance and Business Services
Authority Public Governance, Performance and Accountability Rule 2014