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Annual Operating Budget: Overview

The Provost and the VP, Administration present the annual operating budget to the Board of Governors every April for the upcoming fiscal year. The annual operating budget presentation reviews the strategic initiatives that will be implemented, resource allocation decisions and the budgetary assumptions that were used to guide those decisions.

For a much more in-depth explanation of the university’s planning and budget process, please read the Fiscal Blueprint.

Operating Budget: Annual Cycle Timelines

Summer: As enrolment for the current year crystalizes, assumptions for the upcoming budget year’s revenues are drafted and set the overall budget total for the next budget cycle.

Early Fall: The first draw on the budget total is salaries and benefits. A snapshot of all full-time employees is taken on October 1 and becomes the baseline for the next budget year. After factoring in the future increases for these employees, the total Base budget for part-time labour, operating expenses and capital expenses are summed to create the initial base working budget.

Late Fall: With a base budget drafted, the university will begin considering additions to the budget that align with its strategic priorities. Individual faculties and support units may submit requests for additional budget (Asks) whether they be permanent (Base Asks) or temporary (One-Time Only Asks).

Early Winter: Each faculty and support unit will submit their proposed budgets using the FAST Budget module. These budgets are consolidated for review and approval. Decisions about Asks will be finalized at this time.

Late Winter: Durham College will present its proposed budget for shared services. This is the final piece of the total Annual Operating Budget.

Spring: The Audit and Finance Committee of the University’s Board of Governors will be presented the proposed Annual Operating Budget by the Provost and the VP, Administration. Once approved, it will be loaded into the FAST Reporting module for the new fiscal year.