Annual budget guidelines
Ontario Tech University 2022-23 Budget Guidelines
The following budget guidelines provide a common understanding and framework for the budget process:
a) All budgets and quarterly calendarization will be completed in the FAST Budget and Forecasting module.
b) The budget starting point for each unit is their 21/22 Base and approved 21/22 Base asks. Each unit will be allocated funds to cover fixed
costs such as:
i) 2022/23 salary increases*
ii) 2021/22 In-Year approved hires
* Estimated salary increases for eligible full-time continuing employees are included in your starting budget based on estimates for each employee group (actual in-year salary increases for each employee compensation group are all subject to approval by Human Resources).
c) Payroll information, including employees and their respective annual salary, for academic and support staff continuing employees, definite term contract employees as well as employee costs charged by Durham College (DC) to Ontario Tech University, are included in your starting budget.
d) Full-time salary budgets include all approved positions as of October 1, 2021. These are pre-loaded in each unit's Base budget.
e) Benefit expenses for employees, included in your Starting Base budget, are calculated as follows:
i) For employees on the Ontario Tech University payroll
- 20.5 per cent for full-time continuing employees, and
- 9 per cent for limited-term contract employees
g) All budget holders should review their budgets with their respective vice-president or delegate prior to submission of the budgets in the FAST Budget module by 5 p.m. on Friday, December 17, 2021.