Finance and administration at a KTH centre
Before each operational year, the centre produces plans and a budget. The centre's steering committee and director are responsible for ensuring that the project structure and costs comply with current regulations.
To be prepared annually by the centre:
-
Operational plan.
- Staffing plan.
- Budget.
- Interim and annual financial statements, including an income statement and balance sheet, and a report on operations.
A separate cost centre
The centre shall constitute a separate cost centre within the school. Financial results must be reported in a way that they are distinct from the other activities of KTH and the school.
Operational plan and budget
The steering committee adopts the operational plan and budget. The centre director is responsible for ensuring that an appropriate project structure is in place, and that the accounts are kept in accordance with prevailing rules.
The centre should have its own unique cost centre and any fixed assets (equipment) at the centre should be accounted for by the centre, including costs connected to these assets, such as depreciation. The director must inform the head of the school of any major changes in the centre’s activities, including its financial situation.
If financial or administrative circumstances arise which are not in line with the centre’s operational plan, budget or other regulations, the centre and the school should initially seek to resolve the matter by mutual agreement. If this is not possible, the head of school should refer the matter to the President/delegate as per the delegation system.
Risk of conflict of interest
All involvement and work within the framework of the centre are to be carried out with transparency regarding the foundation and motivation for decisions. Individuals should not participate in decision-making where they have a vested interest, whether this concerns their own research activities, their own interest in the commercialisation of results, or access to or sharing of information.
Where there is a risk of conflict of interest, the steering committee, and in particular the chair, is responsible for ensuring that this is dealt with appropriately in line with existing internal and external guidelines, and best practice. If required, this can be done by formulating specific work routines for dealing with conflicts of interest.