Treasury Management Procedure Schedule 2
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Treasury Management Procedure Schedule 2 - Treasury Delegated Authorities
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Section 1 - Purpose
(1) This Schedule outlines the delegated limits of authority as they apply to Treasury.
Section 2 - Authority
(2) Authority for this document is established by the Treasury Management Procedure.
Section 3 - Scope
(3) This Schedule applies to all staff of the RMIT Group.
Section 4 - Schedule
(4) The Treasury Delegated Limits of Authority below are a subset of the Delegations of Authority Policy.
(5) Some individuals have authority only when a second authority also approves.
| VC | CFO | COO | DCFO | CEOs RMIT controlled entities | |
|---|---|---|---|---|---|
| Approve opening new bank accounts | Yes + CFO | Yes + VC | Yes + CFO | No | Yes + CFO |
| Approve closure of bank accounts | Yes + CFO | Yes + VC | Yes + CFO | No | Yes + CFO |
| Approve loan drawdown & repayments for domestic facilities, US Private Placement(USPP) & Greener Govt Building Program (GGBP) | Yes | Yes | Yes | Yes | No |
| Enter into & approve settlement of foreign exchange contracts | Yes | Yes | Yes | Yes | PVC + VNDF |
| Approve interest & commitment fee payments for domestic loans & USPP (inc. settlement of USPP interest under hedging arrangements) | Yes | Yes | Yes | Yes | No |
| Approve term deposit investment & recall | Yes | Yes | Yes | Yes | PVC + VNDF |
| Approve fund transfer to domestic & overseas controlled entities (other than for settlement of appropriately approved invoices which shall follow the normal DOA rules) | Yes | Yes | Ys | Yes | No |
| * Approve online banking & credit card portal authorisers | Yes | Yes | Yes | Yes | PVC + VNDF |
| Approve to appoint & remove bank account controller & verifying officers | Yes | Yes + COO or DCFO | Yes + COO or DCFO | No | No |
| Approve to amend bank accounts & credit card signatures | Yes | Yes + COO or DCFO | Yes + COO or DCFO | Yes + COO or DCFO | No |
| Approve bank direct debit establishment | Yes | Yes | Yes | Yes | No |
| Approve return of funds incorrectly deposited into RMIT bank accounts | Yes | Yes | Yes | Yes | No |
| * Senior Financial Accounting Manager can also approve: - Online banking and credit card portal authorisers. - Transfer of funds to and from At Call Account linked to RMIT bank account (approved by nominated authorisers as per online banking portal). - Transfer of funds between all RMIT University bank accounts (approved by nominated authorisers as per online banking portal). |
Legend in table: VC – Vice-Chancellor, CFO – Chief Financial Officer, COO – Chief Operating Officer, DCFO – Director, Central Finance Operations, PVC – Pro Vice-Chancellor, VNDF – Vietnam Director, Finance Cum Chief Accountant.
(6) All online banking and credit card portal authorisers are appropriated identified with the banks.