Find an overview of the budgeting process.

Operating Budget

While the Faculty’s operating budget is mainly funded centrally, other funds that augment the Faculty’s operating funds now include:

  • fee-for-service accounts
  • continuing studies
  • unrestricted specific-purpose
  • endowment accounts
  • and departmental research overhead accounts 

Centrally-funded operating funds, housed in general-purpose operating (GPO) funds, are annually allocated to different Department/Schools under the Faculty.  While the bulk of the operating funds is placed in the Department’s/School’s main GPO account, Departments/Schools may elect to transfer these funds to other GPO accounts. 

Meanwhile, the University requires the Faculty to put forward an annual budget on expected operating revenues and expenses. These plans are prepared at Department /School levels that roll up to the Faculty level, utilizing the Hyperion Budget Module.  Departments/Schools are required to submit signed budget plans to the Dean’s Office after they have finalized their budgets.   

The top 10 things you need to know about budgets

The contents of the PowerPoint presentation is of interest to heads, faculty and Departmental/School/Centre administrators who seek to gain a general understanding on budget elements and their uses, financial reports, UBC systems, and internal control. The presentation is a product of a studio presentation presented by MedFinance to unit heads.

Additional Resources