Key Financial Policies

The key financial policies associated with running your project are contained in this guidance.

The Financial Regulations of the University

All staff must follow the University's Financial Regulations which should be read in conjunction with the University's policies and procedures.


Procurement Policies and Procedures 

The procurement of equipment, consumables and services, including maintenance must comply with all relevant national and EU legislation and University Financial Regulations and procedures. Please contact the Procurement Office at the earliest opportunity to discuss your procurement requirements and refer to the University’s Procurement Regulations.The  limits applied in respect of quotations or tenders are found under the Procurement journey.

Procurement Office

How to Buy Guide - Purchases under £50,000

How to Buy Guide - Purchases over £50,000

The Procurement Journey

In addition to EU and national legislation some research funders have specific conditions on the procurement of Equipment so please also refer to your Funder’s terms and conditions or contact your local research support of Research Grants Administrator for further advice. Please retain full records evidencing compliance with the procurement process followed which will be required in case of audit.

Reimbursement of Expenses 

Payment of staff expenses must follow the University expenses policy and travel policies.

Be aware of Funder terms & conditions as to what travel expenditure is allowed within your award and any specific conditions to reimbursement under the funding you have been awarded.

Please ensure full accompanying evidence of expenses incurred are retained – invoices, receipts, currency exchange rates.

Expenses Policy

Travel and accommodation expenses 


If you require to arrange insurance for travel or other specialist areas of your project please contact the University Insurance Office.

Contact the Insurance Office  

Equipment Capitalisation and Depreciation

It is University policy to only capitalise equipment and software purchases if the cost of an item or group of related items is £50,000 or higher.

Capitalised equipment is stated at cost and depreciated over a four-year period.

Checks are required to be made to individual Funders’ terms & conditions as to the reimbursement rate on equipment costs.

Capital equipment accounting policy

Funder terms and conditions