Part 10. Definitions and Abbreviations

Audit and Scrutiny Committee

the Audit and Scrutiny Committee of Council (Council Regulations 15 of 2002)

Budgetary unit

each division, department, institution, budget-holding committee and board of or within the University

Contract

an agreement which is enforceable by or against the University and/or any of its subsidiaries under the law of any jurisdiction; and also any memorandum of understanding, letter of intent or the like which (although not of itself legally enforceable) sets the agenda for a subsequent binding agreement

CSG

the Capital Steering Group (Council Regulations 15 of 2002)

CUF Lecturers

Common University Fund lecturers: these are posts jointly funded by a college and the University

Finance Committee

the Finance Committee of Council: (Council Regulations 15 of 2002)

Financial Memorandum

the Financial Memorandum between HEFCE and the University

Financial processes

such detailed financial operating procedures in conformity with the regulations as may be promulgated from time to time by the Director of Finance

Head of unit

the head of a budgetary unit: that is, the heads of divisions, departments and institutions, and the chairs of any budget-holding committees or boards which are not within the divisional structure

HEFCE

the Higher Education Funding Council for England (or any successor body)

Hospitality

hospitality can be received or provided. Sections 7 and 8 of the Payments Manual identify the University policy on accommodation-related and entertainment-related expenses and benefits. Staff should note the personal tax liability that may arise on benefits received

Investment Committee

the Investment Committee of Council (Council Regulations 15 of 2002)

LSO

the Legal Services Office in the UAS

Officers of the University

the University's regulations define the following as officers of the University:
Chancellor
Vice-Chancellor
Acting Vice-Chancellor
Pro-Vice-Chancellors
Proctors and Assessors
Registrar and other officials
Bedels
Verger of the University
Officers and other persons who are required to reside within the University

Materiality

this concept is used in these regulations and to help interpretation the following definition is offered: broadly speaking, information is material if it could influence users' decisions judged in the particular circumstances of the case

PRAC

the Planning and Resource Allocation Committee of Council (Council Regulations 15 of 2002)

Press

the Oxford University Press (Statute XVIII and Council Regulations 20 of 2002)

Principal investigator

the academic that manages research awards and contracts

Real property

immovable property, such as land and buildings

RS

the Research Services Section of the University Administration

Statutes and regulations

the statutes and regulations of the University in force for the time being

Subsidiary companies

companies limited by shares or by guarantee which are wholly owned by the University

Societies

those bodies defined as University societies in Statute V

UAS

University Administration and Services

VAT

Value Added Tax (or any tax replacing it)

VFM

Value For Money, as determined by the economy, efficiency and effectiveness of expenditures or resources (Council Regulations 15 of 2002)