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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.

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Section 2 - Authority

(2) Authority for this document is established by the Treasury Management Procedure.

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Section 3 - Scope

(3) This Schedule applies to all staff of the RMIT Group.

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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.