Forecast
A financial forecast is an estimate of a business units’ revenue and expenses for the rest of the fiscal year. Assumptions, resources, and priorities may have changed since the 23/24 Budget submission. The Forecast seeks to capture those changes so the University has an updated financial projection to inform cash flow, investment and strategic decision-making.
The Q3 (3rd Quarter) Forecast will be completed by all University Faculties and Support units. Units will be required to estimate revenues and expenses for Q3 (October 1, 2023 to December 31, 2023) and Q4 (January 1, 2024 to March 31, 2024) and submit these estimates to Financial Planning & Reporting.
All units will complete the forecast using the FAST Budget and Forecasting module. The Dean of each faculty or VP of each support unit must approve and submit the forecast. Once the forecast is approved, finalize the submission by sending an email to Adam King and your financial analyst (copying the Dean/VP) stating that the forecast is approved.
The forecast for Q3 must be completed in FAST by October 13th at 4 p.m.
The forecast for Q4 must be completed in FAST by December 12th at 4 p.m.
Resources
- 2023-2024 Q3 Forecast Manual
- 2023-2024 Q3 Forecast Upload Template
- FAST Forecast Module Access Test
- FAST Payroll Report Access Test