Policy University Management FMPM 500 - FMPM 599 - Equity FMPM 510 Internal Interest Distribution
FMPM 510 Internal Interest Distribution
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Intent
To identify funds subject to, and the requirements for, internal interest distribution.
Scope
Function | Responsibility of |
---|---|
Classification of funds | Chief Financial Officer |
Credit of interest to funds | Chief Financial Officer |
Basis of interest distribution | Investment Sub-Committee |
Definitions
Non Research Consultancy Funds
Policy
Requirements
In accordance with the provisions of the James Cook University Act 1997, the University must periodically distribute the income of the investment common fund having regard to the share of each component fund (i.e. each restricted fund account) in the investment common fund.
The Chief Financial Officer is responsible for the classification of all funds into one of the categories of research, restricted, miscellaneous operating, non-research consultancy, business unit, major project or operating.
No fund (other than restricted funds) will receive a credit for interest unless there is a contractual obligation to do so.
Investment Sub-Committee is responsible for determining the basis of interest distribution (refer FMPM 301: Procedure – Investments).
Related documents and legislation
James Cook University Act 1997 (Section 53)
For enquiries in relation to this FMPM Policy please contact corporatefinance@jcu.edu.au.
Administration
NOTE: Printed copies of this policy are uncontrolled, and currency can only be assured at the time of printing.
Approval Details
Policy Domain | University Management |
Policy Sub-domain | Finance |
Policy Custodian | Chief Financial Officer |
Approval Authority | Vice Chancellor |
Date for next Major Review | 16/08/2021 |
Revision History
Version | Approval date | Implementation date | Details | Author |
---|---|---|---|---|
16-1 | 16/08/2016 | 17/08/2016 | Reviewed with no changes other than a minor administrative change to enquiries email address. | Quality, Standards and Policy Officer |
15-01 | 09/09/2015 | 10/09/2015 | Policy Sponsor and Approval Authority updated to reflect the approved Policy and Delegations Framework | Quality Standards and Policy |
11-01 | 18/08/2011 | 18/08/2011 | Finance Committee (06/11) | |
03-01 | 09/2003 | 09/2003 |