Invitation to comment on our new Finance Policy

The new policy is part of the University-wide Policy Transformation Program (PTP). 

The Finance Policy Transformation Project, led by the Chief Financial Officer Libby Stratford, has delivered a draft Finance Policy that is now open for UNSW-wide consultation.

Key stakeholders representing all faculties and divisions, the Finance senior leadership team and subject matter experts have contributed to the development of the new policy. Their expertise, collegiality and consideration have been instrumental in ensuring the policy represents the views and needs of UNSW.

The draft Finance Policy:

• states UNSW’s principles and objectives for expenditure and financial management
• defines procedural requirements for each type of expenditure and financial activity
• allocates financial authority and responsibilities.

The benefits of the new policy include:

• the consolidation of 15 policies and procedures into one policy 
• streamlined content in plain language
• the removal of extensive controls on expenses 
• a single 26-page document, reduced from 153 pages.

Your input on the transformed Finance Policy is important to help us deliver a comprehensive, accessible and modern policy that supports decision making.

Please send your feedback to policy@unsw.edu.au by Friday 17 November 2023.

The Policy Transformation Program

The new Finance Policy is part of Phase 1 of UNSW’s PTP.

The Strategic Projects and Operations Team (SPOT) and Governance in the Division of Transformation, Planning & Assurance have been leading the PTP to consolidate the existing policy suite of more than 260 policy documents into one code and 23 policies.

The feedback received via the Insight survey and subsequent listening groups reinforced the aims of the PTP to:

• reduce the number of policies and cut down on red tape
• adopt a trust-based approach to decision-making
• apply plain language for ease of understanding
• provide an accessible format.

This is a major reform to simplify and transform our policies. The PTP has four phases and will be implemented over three years. It will improve how we approach policy collaboration across the University.

Scientia Professor George Williams, Deputy Vice-Chancellor, Transformation, Planning and Assurance, said: “The PTP’s collaborative approach helps UNSW gain sharper insight into the line between trust and accountability. This has laid the groundwork for developing new policies that balance our compliance obligations with our desire to reduce red tape.”

Visit the PTP SharePoint site for more information about the program.