Everything You Wanted to Know about Budget. Major Fund Types. General Operating Core operating activities Funding allocated via budgets Fiscal year cycle (April to March) Specific Purpose Conferences, service contracts and activities funded through endowments Project oriented
Everything You Wanted to Know about Budget
Budget Framework – This document, approved by the Board of Governors, outlines the revenues
and expenditures of the University at a summary level.
Base Budget Allocation – President or Vice-President provides their respective faculty or
department with their current year base budget changes based on department requests.
Each faculty/department then provides the Budget Office with their allocation decisions.
Budget Office Adjustments – Base budget allocations include: salary increases and faculty
turnover. Non-recurring budget adjustments include: study leaves, carry-over, reserves or other
Faculty/Dept Reallocations – Budgets can be realigned throughout the year at the request of the
faculty/department to the Budget Office.
Types of Operating Budgets
Use of position control all continuing, regular positions in the Operating fund must be base funded
Must budget for benefits
Salary increases funded centrally
Reclassifications are funded by Department
Salaries are reconcilied
Canada Research Chairs
department is given vacancy to fill
Michael Smith Foundation
grant award is usually short term (3-5 yrs)
sessionals required for teaching component
Other grant funded
similar to MSF
Commitments in FAST are generated from :
Items not reflected in FAST Commitments: