Budget Cycle Timeline (May 1 to April 30)
May/June
- Office of the Provost commences enrolment contract discussions with the Faculties for future years
- Office of Budgets and Asset Management (BAM) calculates year-end adjustments for the previous year’s budget
- BAM allocates funds to the Faculties and Units as per the approved budget plan
September
Faculty enrolment contracts for future years are finalized and embedded into the upcoming multi-year budgets
October
Budget Council reviews base budget requests from the shared services Units, and advises the President for final decisions
November
- University Fund Council reviews time-limited budget requests from the Faculties and shared services Units, and advises the President for final decisions
- BAM distributes budget envelopes to the Faculties
- BAM distributes budget allocations to the Units
December
In-year enrolment projections updated and shared with the Faculties
January
Faculties and Units prepare in-year forecasts
February
- Faculties and Units complete multi-year budgets, approved by the Divisional Senior Executive Officers
- Board Finance & Audit Committee reviews in-year forecasts
April
- BAM finalizes multi-year budgets
- Board of Governors approves multi-year budget plan