Budget Process Update

Longer days of sunshine and small buds on flowers signal the onset of spring on campus. They also signal for the Comptroller team that UBC’s fiscal year-end on March 31 is coming up soon!

The team is busily preparing for the annual budget presentation to the UBC Board of Governors in mid-April. The budget process follows a familiar pattern each year—starting with consultations across campus in the fall and ending when the board approves the new year’s budget in April.

The budget process is very collaborative and last November, the Comptroller started bottom-up planning sessions with more than 40 academic and administrative units at the university. Planning centred around maintaining core services, service improvements, new requirements going forward and applying fiscally responsible principles.

The Comptroller also supported the campus community in aligning with major institutional priorities in UBC’s 2018-19 budget. As President Ono is now finalizing UBC’s strategic plan, each faculty and unit earmarked funds to support the strategic pillars of the plan—People and Places, Research Excellence, Transformative Learning, Community—as well as three key areas of focus—Collaboration, Inclusion, Innovation.

Following these bottom-up planning sessions, each unit then submitted their budget to the Comptroller’s team of senior budget and financial analysts, using a framework set by the Comptroller, and these 40+ reports were then consolidated into UBC’s central budget.

Since the beginning of the year, the Comptroller team met with the deans and administrative unit leaders to review their 2018-19 budgets, and presented a preliminary consolidated budget to the Board of Governors.

Still to come are feedback sessions with students, before the final Executive and Board of Governors review.

Want to learn more about budgets at UBC?  Read up on UBC funding sources and major expenditures on the VPFO website.