Regulation on administration, finance and accounting

CONTENTS

TITLE I
GENERAL PRINCIPLES


Article 1 Scope
Article 2 Objectives
Article 3 Powers of the persons tasked with administration, finance and accounting
Article 4 Responsibility centres
Article 4-bis Cashier service

TITLE II
FORECASTING, MANAGEMENT AND REPORTING
Article 5 Financial year and projected balance sheet
Article 6 Change to the economic/financial management plan
Article 7 Cash flows
Article 8 Reserve fund
Article 9 Accounting management
Article 10 Final balance sheet for the financial year
Article 11 Petty cash

TITLE III
CONTRACTUAL ACTIVITY
Article 12 Contractual activity and procurement of goods and services

TITLE IV
MISCELLANEOUS ORGANISATIONAL AND OPERATIONAL PROVISIONS
Art. 13 Representation expenses
Art. 14 Expenses for cultural exchanges, conferences and congresses
Art. 15 Publication expenses
Art. 16 Participation in associations
Art. 17 Mission and travel expenses

TITLE V
SYSTEM OF CONTROLS
Article 18 Management control
Article 19 Board of Auditors: composition and operation
Article 20 Tasks of the Board of Auditors
Article 21 Term of the mandate and causes for termination

TITLE VI
EVALUATION SYSTEM
Article 22 Evaluation Board:- Composition and operation
Article 23 Powers
Article 24 Term of the mandate and causes for termination

TITLE VII
FINAL PROVISIONS
Article 25 Final and transitional provisions

 

TITLE I
GENERAL PRINCIPLES

Article 1
Scope
1. This regulation on management, finance and accounting (hereinafter the “Regulation)of eCampus Online University (hereinafter the “University”), established by virtue of the Ministerial Decree of 30 January 2006 of the Ministry of Education, Universities and Research, sets forth the principles relating to management, financial, accounting and asset administration and the system of controls and evaluation.
2. The Regulation also makes provision for the procedure of drafting of accounting documents: the projected balance sheet or the economic/financial administration plan, the final financial statements for the financial year or the general framework of the economic administration andof the asset and financial situation. Lastly, the Regulation covers the system of related responsibilities.

Article 2
Objectives
1. This Regulation is adopted in the context of the recognised independence of article 7 of law 168/89, to allow the achievement of the activities and institutional objectives of the University, in compliance with the principles of lawfulness, disclosure, transparency, efficiency, efficacy and cost effectiveness.
2. The Regulation adheres to the following principles:
a) the annual nature, unity, universality and integrity of the financial statements and financial balance;
b) all income and all expenses must be entered in the financial statements in full; any off-budget management is forbidden;
c) all revenue is to be used without distinction to finance all expenditure;
d) circularity of the financial/accounting process (planning, administration, monitoring, overview, control, evaluations and possible review of the planning);
e) control and evaluation of the operational results of the Administrative Structure in correlation to the defined policy objectives;
f) full negotiating autonomy with regard to the institution’s institutional purposes;
g) pre-definition of the criteria and modalities for the selection of contractors.
3. Matters that are not covered by this Regulation shall be governed, to the extent that they are compatible, by the provisions of national and EU legislation.

Article 3
Powers of the persons tasked with administration, finance and accounting
1. In compliance with the legal and organisational structure of the University based on its Statute and in respect of its teaching, scientific and administrative independence, the system of responsibilities with regard to the adoption of acts, documents and measures related to the administration, finance and accounting is structured as follows:
a) the Board of Directors, the Dean, the Executive Committee, if established, the University Senate and the Rector are responsible for planning, programming, management and administration, and for the duties expressly and respectively assigned by the Statute or by regulations to which it refers or by the law;
b) the Administrative Director is responsible for verifying the lawfulness of acts, documents and measures regarding administration, finance and accounting and the coordination of the Administrative Department of which he/she guarantees the operation, in conformity with the decisions of the Board of Directors; further, the Administrative Director informs, periodically or following a specific request, the Board of Directors on the general progress of the financial, accounting and asset administration;
c) the person tasked with keeping accounting documents, income statements, financial and tax documents;
d) the persons tasked with the management of the assigned human, financial and practical resources;
e) the Board of Auditors supervises and controls the regularity and correctness of the financial, accounting and equity administrative management;
f) the University’s Evaluation Board checks and evaluates the correct management of resources for the achievement of the institutional goals and of the policy objectives of the University.

Article 4
Responsibility centres
1. The Board of Directors decides the structure of the responsibility centres and of income/expense centres.
2. The responsibility centres which make the main assumptions are those to which the Board of Directors assigns a budget and the responsibility to manage human, financial and practical resources related to the goals to be achieved.
3. Specifically, the faculties, the departments, and the administrative management areas are responsibility centres.

Article 4-bis
Treasury service
1. The management of the treasury is coordinated by the administrative management, which is responsible for the operational management of payments and collections. It may use the services of a credit institution.
2. For the provision of certain services, the University may make use of postal current accounts.
3. Payments may also be made with credit cards in the name of the University, in accordance with the methods laid down in the internal regulations and approved by the Board of Directors.
4. Under the planned investments, the University may have recourse to bank advances and/or loans andany other financial instrument within the limits set by the applicable legislation.

TITLE II
FORECASTING, MANAGEMENT AND REPORTING

Article 5
Financial year and projected balance sheet
1. The University’s financial year coincides with one calendar year.
2. The main accounting documents are: the projected balance sheet, i.e. the economic/financial administration plan.
3. The accounting documents are available at the registered office of the University.
4. The projected balance sheet is drafted in conformity with the following principles:
a) veracity of forecasts, supported by analysis that refers to an appropriate amount of time, or, failing that, by other suitable reference parameters;
b) compliance with the provisions of the legislation and this Regulation;
c) coherence between the forecast and the balance sheet of the previous financial year and all other decisions of the Board of Directors which affect entries and exits.
5. The Board of Directors of the University, taking into account the opinion of the University Senate and the assessment of the Board of Auditors, expressed in relevant reports, approves the projected
balance sheet by 31 December of the year before the financial year in question.
6. The projected balance sheet, along with the programming report which lays down the objectives for
the following academic year, are drafted by the Chairman of the Board of Directors, with the assistance of the Executive Director, based on the projected reports drafted by the managers of the teaching, research and administrative structures.
7. The projected balance sheet is the economic/financial planning document that expresses the
economic needs, in terms of competence, and the financial needs, in terms of available funds, in accordance with the balanced-budget principle. The projected balance sheet must guarantee balance between expenditure and revenue, as well as the financial coverage of planned investments.
8. The planning document mentions, in the form of economic and financial forecasts, the objectives of the  programming report for the following academic year and the list of activities and services in the teaching, research and administration sectors, with mention of the financial resources required.
9. The projected balance sheet is expressed in terms of competence and treasury and comprises the estimate of income and revenue, and the estimate of expenditure and costs.
10. All income and revenue, as well as all expenditure and costs must be recorded in the projected balance sheet in their full amount, without any reduction for linked expenditure/costs or income/revenue.
11. The projected balance sheet must be drafted in conformity with the principle of financial,
economic and asset equilibrium to which the management of the University must always aspire.
12. The layout of the projected balance sheet to be used by the University must correspond to the needs and characteristics of the University and must be coherent with the accounting standards that
will be adopted for the recording of accounting documents, in such as way as to ensure comparison and check of any discrepancies between the projected values and those actually reported by the administration.

13. The projected balance sheet, in its capacity as an economic/financial planning document, must
show the economic results, in terms of competence, and the financial results, in terms of available funds, which the administration of the University will generate during the financial year to which the projected balance sheet refers.
14. The projected balance sheet is subject to examination by the Board of Auditors at least fifteen days before the convocation of the meeting of the Board of Directors where it will be discussed.
15. The report of the Board of Auditors will end with a proposal to approve or reject the projected
balance sheet.

Article 6
Change to the economic/financial management plan
1. When facts and events that occurred during the financial year render it necessary to change the initial revenue or expenditure forecasts, the Board of Directors shall decide on the relevant changes of the economic/financial administration, taking into account the opinion of the Board of Auditors.
2. In cases where this is deemed to be necessary or urgent, also for the purpose of speedier administration, the
changes may be made by virtue of a justified decree of the Dean, to be submitted to the Board of Directors for approval, in its first possible meeting with the opinion of the Board of Auditors.

Article 7
Cash flows
1. Incoming cash flows show the resources that are available during the financial year and are listed
according to their origin.
2. Outgoing cash flows are recorded on the basis of forecast reports drafted by the
managers of the teaching, research and administrative structures.
3. The investment plan represents the needs for tangible and intangible fixed assets foreseen for
 the financial year in question.

Article 8
Reserve provision
1. The economic/financial administration plan includes a reserve provision for unforeseen expenditure, and for additional expenses that may be necessary during the financial year.
2. The reserve provision is of an amount equal to five per cent of the total of the foreseen current expenditure.
3. The use of the reserve provision is at the disposal of the Board of Directors, on proposal of the
Dean, taking into account the opinion of the Executive Director.

Article 9
Accounting management
1. On approval of the economic/financial administration plan, the University adheres, during the financial year, to the statutory rules on accounting.
2. With regard to the obligations and methods of keeping accounting documents, the University complies with the provisions of articles 2214 et seq. of the It. Civil Code.

Article 10
Final financial statements for the financial year
1. The operating results are shown in the financial statements for the financial year that reflect the
economic, equity and financial situation of the University, and in the management report, which,
drafted by the Chairman of the Board of Directors, with the assistance of the Executive Director,
 in compliance with article 2428 of the It. Civil Code, shows the costs incurred and the results
achieved in relation to the objectives included in the programming report for the same financial year.

2. The final financial statements comprise: the balance sheet, the statement of income and the notes to the financial statements, drafted in conformity with the principles, the criteria and the layouts of articles 2423 et seq. of the It. Civil Code, with the possibility of amendments and addition of items, in accordance with the specific needs of the University and the accounting standards adopted thereby. In any case, the final financial statements must be drafted in such a way as to allow comparison with the
economic/financial administration plan.

3. The balance sheet must show the size of assets and liabilities at the start and the end of the
financial year. It must also show the composition of the shareholders’ equity with mention of the increase or decrease thereof during the financial year as a result of the management’s actions.
 The statement of income summarises the positive elements (revenue) and the negative elements (expenditure) of the income during the financial year in question and, for comparison, the positive (gains) or negative (losses) economic results that resulted from the management to show the
economic results achieved. The notes to the financial statements, drafted pursuant to article
2427 of the It. Civil Code, are an illustrative technical/accounting document which pertains to the progress of the University’s administration, and contains all information that is useful for a better understanding of the accounting data. The Statement of Accounts summarises the financial income
and expenditure generated by the management during the financial year in question and, for comparison, the positive (operating surplus) or negative (operational deficit) financial results.

4. The final financial statements are subject to examination by the Board of Auditors at least fifteen days before the convocation of the meeting of the Board of Directors which must approve them before 30 June of the following financial year. The report of the Board of Auditors must include the certification regarding the correspondence of the results in the financial statements with the accounting documents, as well as an assessment of the correctness of management.
5. The Board of Directors may use any positive economic results only after their amount has been crosschecked with the approval of the final financial statements.
6. Possible negative economic results must be absorbed in the drafting of the projected balance
sheet for the financial year after the one in which the losses in the financial statements were
approved.

Article 11
Petty cash
1. The Board of Directors, when approving the projected balance sheet, may authorise the
 creation of a petty cash fund to be used for the payment of:

a) minor office expenses, small repairs and maintenance, postal expenses;
b) the purchase of publications and/or similar materials, in cases where cash payment is convenient;
c) advance payments, especially for the travel expenses of personnel;
d) advance payments relating to travel expenses and compensation for conferences and seminars to persons external to the University.
2. The Executive Director will appoint the person responsible for the petty cash fund.
3. The payments and refunds will be recorded in a special numbered register.
4. The management of the petty cash fund is regulated by a specific regulation.

TITLE III
CONTRACTUAL ACTIVITY

Article 12
Contractual activity and procurement of goods and services
1. The University, in order to carry out its activities and to achieve its institutional goals, or for
activities that support and/or complement its purposes has full negotiating autonomy, in compliance with the principles and the rules of Italian and European legislation.
2. The University may stipulate unilateral contracts, as well as agreements, typical and atypical contracts, specifically
pursuant to article 27 of It. Presidential Decree no. 382/1980, in order to ensure the performance
of teaching activities additional to the activities of the University, with the purpose of completing

academic and professional training.
3. The decision to stipulate contracts, the approval of the subject of the contract itself and the
choice of the form of contract, with regard to financial commitment, falls under the competence:

- of the Board of Directors, or of one or more members thereof, delegated for this purpose;
- of the Managing Director, delegated for this purpose by the Board of Directors;
- of the Rector, delegated for this purpose by the Board of Directors, only for decisions with regard to
the stipulation of teaching and scientific research contracts, as well as with regard to any other act
necessary to cover the courses taught and other additional activities.
4. All contracts must be of fixed time limit and duration. Tacit renewal of supply, service and works contracts is not allowed.
5. The decision to stipulate the contract must mention:
a) the objectives to be achieved;

b) the object and the clauses of the contract that are deemed to be essential, as well as the formalities to be observed for the stipulation of the contract;
c) the choice of the contractual procedure and the grounds that justify such choice;
d) the appointment (if applicable) of an expert committee for the evaluation of the offers;
e) the resources of the balance sheet with which to cover the expenditure.
6. The contracts are concluded publicly or privately, also through the exchange of correspondence.
The Chairman of the Board of Directors, or his delegate, concludes the contracts.
7. The procurement of goods and services is performed in compliance with the principle of economy and in accordance with the allocation of financial resources indicated in the economic/financial administration plan.
8. For the procurement of goods and services of a value equal to or more than the limits set by the EU and in case of use of public financial resources, the provisions of the relevant public law of the
European Union shall apply.
9. With regard to work on a time and materials basis, express reference is made to the related regulation of It. Presidential Decree of 21 December 1999, no. 554, as subsequently
amended and supplemented, and article 125, paragraphs 5, 6, 7 and 8 of It. Legislative
Decree no. 163 of 12 April 2006.

TITLE IV
MISCELLANEOUS ORGANISATIONAL AND OPERATIONAL PROVISIONS

Article 13
Representation expenses
1. In order to promote and safeguard the reputation of the Institution and for individual Owners of Responsibility Centres or their delegates to develop national and international public relations, they
 may incur representation expenses defined by a specific regulation approved by the Board of Directors.

2. Representation expenses will be recorded in the relevant Chapters of the Institution’s financial statements with reference to each Responsibility Centre, in accordance with their specific competence.

Article 14
Expenses for cultural exchanges, conferences and congresses
1. The Responsibility Centres have the power to assume on their budget all
organisational and management expenses related to cultural exchanges and scientific collaborations, conferences, congresses, symposia, round tables, seminars and other similar events that pertain to
the Institution’s institutional purposes, based on the specific regulation approved by the Board of

Directors.
2. Under cultural agreements stipulated with foreign Universities, which also foresee the
exchange of university personnel and students, the Institution may assume the travel and
accommodation (board and lodging) of the members of personnel and students concerned.

3. The Institution may assume the expenses related with student and university personnel
mobility programmes set up by national and international organisations. The expenditure may
 include language learning courses.

4. For the expenses of the previous paragraphs which are funded by the European Union through agreements or contracts on research, education, mobility or other, the EU legislation foreseen therein
shall apply.
5. The expenses of the previous paragraphs will be recorded in the relevant Chapters of the Institution’s financial statements with reference to each Responsibility Centre, in accordance with their specific competence. Without prejudice to the recourse to loans for specific purposes, the aforementioned expenses may be decided in the event where priority is given to ensuring the normal academic and research needs.

Article 15
Publication expenses
1. The rules on expenses for the publication and sale and distribution of books, journals and other
publications regarding research and original work carried out in the context of and for the institutional purposes of the Institute are determined with a specific regulation adopted by the Board of Directors.
2. All publications of the previous paragraph must bear the name of the Institute and of the
organisational structure concerned.

Article 16
Membership in associations
1. For the collaboration in institutional or support activities or activities otherwise related thereto,
 and of common interest, the institution may stipulate agreements with other Universities and their structures and with other public and private bodies, also for the membership in and establishment of consortia and inter-university centres.

2. The Institution may decide to dedicate funding for membership of the consortia and inter-university centres
of the previous paragraph.
3. For the same purposes as under paragraph 1, the Institution may also stipulate associative contracts for the establishment or purchase of membership in private law organisations, on the condition that the limited liability of the Institution itself, based on the law or on a valid corporate contract, is guaranteed.
4. The conclusion of the agreements and contracts referred to in the previous paragraphs are completed by the Director of the institute, upon resolution of the Board of Directors, which approves
the conditions of membership, in conformity to the specific regulation that has been approved by the Board of Directors.

Article 17
Mission and travel expenses
1. Mission and travel expenses, both for employees and external persons involved in the activities
of the Institute, are regulated by specific regulations adopted by the Board of Directors, also in order
 to optimise the use of human and financial resources and expedite operational procedures.

TITLE V
SYSTEM OF CONTROLS

Article 18
Management control
1. Provision has been made for the activation of a staff function for management control, so that,
by using predefined indicators, there is constant monitoring of the status of achievement of the
objectives and to check the relation between costs and results, so that coherent corrective
measures may be adopted.

2. The specific indicators to measure the efficacy, efficiency and economy of management are determined in agreement with the University’s Evaluation Unit.

Article 19
Board of Auditors: composition and operation
1. In accordance with the provisions of the legislation and of article 30 of the Statute, the Board
of Auditors, a collegiate body, is established.

2. The Board is made up of three standing and three alternate members, enrolled in the register of Certified Accountants. Two standing members and one alternate member are appointed by the chairman of the eCampus Foundation. The chairman of the Board of Auditors is appointed by the chairman of the eCampus Foundation from the standing members. The members of the Board of Auditors have a mandate of two years and may be re-elected.
While exercising their duties, the members of the Board may not provide professional services to
 the University.

3. The meetings are chaired by the Chairman and, in his absence, the oldest member.
4. The minutes of the meetings are prepared by the Secretary. The minutes, approved in the
current or the following meeting, are signed by the Chairman and the Secretary.
The minutes are transcribed in the Board’s Minute book, kept by the Chairman of the Board,
in accordance with the provisions of article 2421 of the It. Civil Code.
5. The Board of Directors may decide to grant to the members of the Board of Auditors, other than remuneration for the performance of their duties, attendance fees for each meeting, aside from the reimbursement of mission expenses that are documented and were incurred during the exercise of
their duties.

6. The University shall put at the disposal of the Board of Auditors all means and resources necessary for the exercise of its duties.

Article 20
Tasks of the Board of Auditors
1. The Board of Auditors, in implementation of article 30 of the Statute, has the following powers:
a) it examines the projected balance sheet, any changes thereto, and the final financial statements, drafting relevant reports;
b) it carries out all the checks necessary to ensure the due progress of accounting management;
c) it checks the validity of the accounting books and documents;
d) it carries out periodic controls of the treasury.
2. The members of the Board of Auditors may be present in the meetings of the Board of
Directors.

Article 21
Term of the mandate and causes for termination
1. The mandate of the Board of Auditors is for two years, which start from the date of the decision,
 and until the approval of the final financial statements of the second successive financial year to
the one that saw their appointment.

Its members may be re-elected.
2. When a member is replaced, the duration of the mandate of the new Auditor shall be limited to
the time remaining until the expiration of the mandate, calculated from the appointment of the entire Board.

3. Auditors may be revoked only for serious shortcomings.

TITLE VI
EVALUATION SYSTEM

Article 22
Evaluation Unit: composition and operation
1. In accordance with the provisions of the legislation and of article 28 of the Statute, the Board
of Evaluation of the University (Evaluation Unit), a collective body, is established.

2. The University’s Evaluation Unit is composed of five members, of whom at least two are appointed among scholars and experts in evaluation, also in a non-academic context. The members of the
University’s Evaluation Unit are appointed by the Rector, on recommendation of the Board of
Directors.
3. The Evaluation Board appoints the Chairman from among its individual members.
4. The meetings are chaired by the Chairman and, in his absence, the oldest member.
5. The convocation must take place, with prior notice addressed to the individual members,
at least seven days before the day set for the session, except in urgent cases.
6. The call includes, other than the items on the agenda, the location and the time of the meeting, as well as any documents that are deemed useful for the discussion of the items on the agenda.
7. The minutes of the meetings are prepared by the Secretary.
The minutes, approved in the current or the following meeting, are signed by the Chairman and
the Secretary.
8. The meetings of the Evaluation Unit are valid when the majority of members are present.
9. The powers and responsibilities of the Unit, other than those foreseen in this Regulation,
are set forth by the laws on the matter under evaluation.
10. The Board of Directors may decide to grant to the members of the Unit, other than remuneration
for the performance of their duties, attendance fees for each meeting, aside from the reimbursement of mission expenses that are documented and were incurred during the exercise of their duties.
11. The University shall provide the Evaluation Unit with the necessary means and resources, as well as with access to the data and information, also computerised, connected to its activity, in compliance with the applicable rules and regulations on the confidentiality of data.

Article 23
Powers
1. The Evaluation Unit, specifically, checks and evaluates, also through
comparative analysis of costs and performance on:
a) the correct management of resources for the achievement of the institutional goals and of the policy objectives of the University;
b) the coherence between the established management objectives and those actually achieved, also in order to formulate instructions and proposals for the improvement of the levels of efficacy, efficiency
and quality of administrative action;
c) the productivity of teaching and research, as well as the coherence between the defined objectives and those actually achieved by the structures tasked with teaching and scientific activities.
2. In particular, the Board identifies the methodology, the criteria and the specific indicators for the
evaluation of the productivity of teaching and scientific activities, of the measures of support to the
right to study, as well as for the measurement of the efficacy, efficiency and economy of the administrative management.
To achieve these goals, it analyses the resources used, the manner in which they were used, the activities and services provided.
3. Every six months, the Unit submits to the Chairman of the Board of Directors, to the Rector and to the Executive Director, on matters of their competence, a report on the progress of the ongoing analyses.
4. The Unit obtains periodically, maintaining the anonymity, the opinions of the students on the
teaching activities and submits to the Ministry of Education, Universities and Research and to the National Committee for the Assessment of the University
System a relevant report, before 30 April of every year, together with the information and the data
 that the Unit is obliged to provide, in accordance with the law, to the aforementioned Committee.

Article 24
Term of the mandate and causes for termination
1. The Evaluation Unit’s mandate is for three years that start from the date of the decision.
Its members may be re-elected.
2. When a member is replaced, the term of the mandate of the new member shall be limited to
the time remaining until the expiration of the mandate, calculated from the appointment of the
entire Unit.

3. Members of the Unit may be revoked only for serious shortcomings.

TITLE VII
FINAL PROVISIONS

Article 25
Final and transitional provisions
1. This Regulation may be amended by the Board of Directors, taking into account the opinion of the
University Senate and the Executive Director. The opinion of the Board of
Auditors and of the Evaluation Unit will also be taken into account, on matters of their competence.
2. This Regulation shall enter into force on the first day after its enactment.
3. On implementation of this Regulation for the first time, the provision of Article 5) on the deadline
for approval of the projected balance sheet shall not apply.