Finance

The EPFL Financial Regulations (LEX 5.1.1) is the reference document for financial management at EPFL.

All financial resources provided to EPFL become the prop- erty of EPFL, irrespective of their source of funding.

Heads of Unit manage and control the financial resources entrusted to them. They are accountable for responsible use of such financial resources.

In particular, Heads of Unit must carry out monthly and half-yearly controls of the funds under their responsibility (Arts. 71 and 72 of the EPFL Financial Regulations). They may delegate some of these controls to a unit administrator but remain responsible for the use of these financial resources, managed via funds.

Heads of Unit are also in charge of checking, on a yearly basis, that the inventory of assets related to their unit is accurate and up-to-date.

Signatory rights for any commitments with a financial impact are based on the spending powers defined in the Financial Regulations. The following thresholds must be observed for all financial obligations towards third parties (purchases of goods and services):

• up to CHF 5,000: individual signature by an authorised person from the Unit;
• CHF 5,001 to 50,000: joint signature by two authorised persons from the Unit;
• CHF 50,001 to 100,000: joint signature by the person in charge of the fund responsible for the transaction and the person in charge of the Level 3 unit (or the person granted equivalent authority to that of the Level 3 Unit manager);
• CHF 100,001 to 250,000: joint signature by the person in charge of the fund responsible for the transaction and the person in charge of the Level 2b Unit (or the person granted equivalent authority to that of the Level 2b Unit manager);
• CHF 250,001 to 500,000: joint signature by the person in charge of the fund responsible for the transaction and the person in charge of the Level 2 Unit (or the person granted equivalent authority to that of the Level 2 Unit manager);
• over CHF 500,000: joint signature by two members of the EPFL Direction.

Validation regulations regarding professional expenses are specified in the chapter on “Travel & Expenses”.

Validation regulations regarding real estate are subject to specific provisions (LEX 7.1.0.2).

Sponsoring, donation and legacy contracts as from CHF 50,000 must be approved by the EPFL Direction.

Research and service contracts with companies or other for-profit entities are signed by:

• the Head of the Unit concerned if the amount is under CHF 50,000;
• the Head of Unit and the Head of the Technology Transfer Office (TTO) if the amount is CHF 50,000 or over.

Grant, research and service contracts with funding bodies or other non-profit entities are jointly signed by the Head of Unit or Principal Investigator (first) and then by the Research Office (REO).

Technology transfer contracts and licencing agreements are signed by the Head of TTO and the Head of the Unit directly concerned. See chapter on “Technology Transfer”.