Prior approval of the Governor in Council is required. Borrowings will only be undertaken in exceptional circumstances where operating or research funds are not sufficient to satisfy existing funding requirements. Departments and centres do not have authority to borrow funds from external parties. Research and Commercial Section, Business Services Division will open and maintain control accounts in the general ledger. The control accounts are to be reconciled to the statements of account issued by lenders.
Reconciliations are to be signed by the preparing officer and by a senior officer.
A current liability arises where students pay a refundable deposit on locker keys, laboratory equipment, slide boxes, accommodation, etc. to a department. The liability is extinguished on reimbursement or forfeiture of the deposit. An Official University Receipt is to be issued for all deposits either by the department, if so authorised, or by the University Cashier. The cost of replacing keys, broken equipment, etc. should be charged to a departmental source code 1 account. Any funds received or deposits forfeited as a result of a replacement or repair, are to be credited to the appropriate source code 1 account.