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Performance Pledge

Functional Areas Standards
Performance Target
Financial Reports
Annual Account with Audit Clearance  Within 3 months after year end
100% 
Departmental Financial Statements

July - May
Within 10 working days after month end
June (financial year end)
Within 2 months after financial year end

95% 
Payroll
Arrangement of Staff Payroll Paid on scheduled days 100%
Retirement Benefits
Announcement of Monthly Adjustment Factor (AF) of the PolyU Superannuation Fund (Part A)  July - May
(i) if AF < 1, within 3 weeks after month end
(ii) if AF = or > 1, within the following month
June (financial year end)
Within 2 months after financial year end
 100%
Benefit Payment to Leavers of the PolyU Superannuation Fund (Part A)

(a) Guaranteed Amount and Minimum Amount :
On or before the leaver's last day of fund membership

 90%

 

 (b) Net Post March 1995 Amount:
July - May
(i) if AF < 1, within the following month
(ii) if AF = or > 1, by the 1st week of the 2nd month following the leaver's last day of fund membership
June (financial year end)
Within 2 months after financial year end
 100%
 Transfer of Monthly MPF Contributions to Trustee On the 1st working day of the following month 100% 
 Income Collection
 Cash and Cheque bank -in Within the same day of receipt *   100%  
 * Bank-in cut-off time is 4.00 pm of normal business day.  
Payments
 Expense Payment Within 14 working days of receipt of valid claims 90%
 Invoice Payment Within the credit term period or within 14 working days of receipt of valid invoices  90% 
Student Fees Refund Within 9 working days of receipt of valid requests 100%
Issuance of Purchase Orders
For small value quotations obtained by user department Within 2 days upon receipt of valid purchase requisitions 98% 
For standard quotations or tenders issued via FO Within 9 days upon receipt of valid purchase requisitions * 98%
For complicated and/or high value tender to be approved by the Tender Committee Within 20 days upon receipt of valid purchase requisition * 98%
* The number of days open for quotation and tender submission as well as the time spent by user departments on tender assessment are excluded.
Inventory Control
Provision of Inventory Labels Within 2 weeks upon receipt of inventory items  95% 
Removal of Surplus Items for Disposal Within 12 days upon receipt of valid disposal requisitions   95% 

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