What Are Financial Delegations?

A Financial Delegation is the approval to purchase goods or services on the University's behalf and is subject to there being an approved budget in place. An employee needs Financial Delegation in order to perform approvals.

What are financial delegations and accountabilities?

Delegation of Financial Authority means the authority delegated to positions for certain financial responsibilities and accountabilities as specified in the Delegation of Financial Authority Matrix. ... Financial Delegate means Authorised Officer and Acting Authorised Officer.

Why are financial delegations important?

Delegation is necessary in order for senior management to achieve all required tasks in a timely manner. This applies to all industry sectors, including Government. A delegate is “a person invested with the authority to carry out the functions, powers and duties of, or to act on behalf of, or represent, others”.