36. Specific and earmarked accounts

36.1. From time to time, the University is awarded grants and funding for specific purposes or programmes. These grants are to be accounted for in separate accounts and the budget holder must ensure that the terms and conditions of these grants are adhered to. Failure to respond to these conditions often means that the University will have to reimburse the sponsors and/or incur financial penalty. The budget holder must also ensure that these accounts are maintained in credit and submit the grant claims on a timely basis.

36.2. Any loss to the University resulting from a failure to meet conditions of funding is the responsibility of the budget holder, and will be charged against the funds of the College or Service.