Overseeing Finance Management

The Deans' or Directors' responsibilities include, but are not limited to:

1. Directs and coordinates the financial planning and resource allocation for the RC's operating budget and other budget categories.

2. Ensure that sufficient funds are available before making any expenditures. The Dean or Director is prohibited from spending/ committing more than the approved allocation.

3. Ensure the budget is appropriately controlled by monitoring the actual activity to the planned activity.

4. Execute prudent measures to control expenditures, prevent waste, and achieve cost savings per applicable rules and regulations.

5. Approve budget transfers within the same RC in accordance with the Limits of Procurement and Financial Authority.

The Deans' or Directors' responsibilities include, but are not limited to:

1. Ensure that all procurement activities adhere to the current rules and regulations, as well as the procurement principles, which include public accountability, transparency, open and fair competition, fair dealing, and value for money.

2. Endorse the procurement planning of supplies, services and works for the RC

3. Approve the procurement for Direct Purchases (Pembelian Terus) of supplies, services and works following the Limits of Procurement and Financial Authority

4. Sign the Letter of Offer, Letter of Acceptance [Surat Setuju Terima (SST)] and procurement contract/agreement for supplies, services, and works following the Limits of Procurement and Financial Authority

5. Approve the Purchase Order (PO) for supplies, services, and works of the RC following the Limits of Procurement and Financial Authority

6. Appoint the members for Procurement Specification Committee, as well as Evaluation Committee following the Limits of Procurement and Financial Authority.

The Deans' or Directors' responsibilities include, but are not limited to:

1. Validate any invoices/corporate credit card statement/ payment documents by suppliers or service providers in accordance with applicable rules and regulations.

2. Verify the imposition of fines/penalties for late delivery of supplies/services/work.

3. Approve claims by staff in accordance with applicable rules and regulations.

4. Endorse advances application by staff in accordance with applicable rules and regulations.

The Deans' or Directors' responsibilities include, but are not limited to:

1. Ensure the petty cash fund should be secured at all times and managed according to the stipulated rules and procedures.

2. Appoint a custodian, who is a member of the faculty, to monitor its use and replenishment. Appointment and approval should be made in WRITING.

3. Conduct periodic or ad hoc spot checks of the petty cash fund at least once every six (6) months in accordance with Treasury Instruction No. 309.

4. Safeguard the cash. The cash should be kept in a safe box or vault with the key in the custodian's possession.

5. Notify the Bursary immediately of any incidents of loss or misappropriation of funds.

6. The head of the RC/department/authorized official must sign and approve any claims made with Petty Cash on the appropriate documentation (i.e. Baucer Kecil, Petty Cash Book).

7. Plan the petty cash fund replenishment based on RC's need and usage.

8. Ensure a complete reconciliation is performed by the authorized official and endorse the year-end balance of the fund, which he/she will send to the Bursary according to the schedule established by the Bursary. The fund's total quantity of currency, coins, and petty cash receipts should always equal its float amount.

The Deans' or Directors' responsibilities include, but are not limited to:

1. Review and monitor the collection processes are per stipulated rules and procedures

2. Collections should be held securely and comply with procedures set by the University.

3. Collections should not be lent, used to pay expenditures or exchanged for any reason.

4. Appoint at least one specific staff to handle the collections and one immediate supervisor to verify the collections. The Deans or Directors must ensure that the authorized personnel have obtained WRITTEN APPROVAL from the Financial Controller/ Bursar.

5. Monitor and follow up on any past-due invoices. Past-due invoice is a payment a customer has not made by the due date agreed in the invoice payment terms.

The Deans' or Directors' responsibilities include, but are not limited to:

1. Communicate the student debt information to the students.

2. Work with the Bursary to monitor the student's debt at the RC and take necessary action.

The Deans' or Directors' responsibilities include, but are not limited to:

1. Ensure that reconciliation of accounts is conducted monthly. Reconciliation is an accounting process that examines internal records at RC against other financial documents in the financial system (SAP) to locate and resolve inconsistencies. Any discrepancies must be notified to the Bursary for rectification or adjustment.

2. Facilitate the year-end accounting closing process at RC based on the year-end accounting schedule given by the Bursary in October each year. The RC must adhere to the date specified in the year-end accounting schedule for all financial processes.

The Dean or Director needs to determine appropriate financial system access for individuals in the RC.

The Deans' or Directors' responsibilities include, but are not limited to:

1. Conduct periodic or ad hoc spot checks of the cash collections/ cash box or vault/ valuable items at least once every six (6) months in accordance with Treasury Instruction No. 309.

2. Ensure that any delegations of financial authority to approved personnel are documented in WRITING.

3. Incorporate segregation of duties for transactions with a risk of fraud and irregularity.

4. Implement task rotation so that the same individual does not manage crucial and high-risk duties for an extended period of time.

5. Ensure that revenues and collections are reconciled accurately, and that all commitments and debts are tracked closely.

6. Ensure that the bill/invoice register is maintained monthly so that payments to suppliers are managed accurately and on time.

7. Ensure that all financial documents are retained for at least seven (7) years in accordance with applicable rules and regulations.

Dean and Director must sign "Surat Aku Janji – Kepatuhan Pengurusan Kewangan Universiti Malaya" upon their appointment in order to improve accountability and responsibility for financial management at RC.