Budgets

Process

The University Budget Committee consists of the President, the Vice-President Administration and Finance and the Comptroller. The Committee, supported by the Comptroller's Office, normally issues its "budget call" in early October each year.  In the "budget call", faculties and departments are asked to prepare staffing plans, revenue budgets, and expenditure budgets for the upcoming fiscal year with estimates for the succeeding two budget years. They are also required to forecast their current year budget to the end of the year.

A consultation process occurs between the deans and directors with their appropriate Vice-President in preparation for presentation to the Budget Committee in early December. Every dean and director presents his or her budget to the Budget Committee.

The Budget Committee reviews and prioritizes the budget submissions that it has received from the various faculties and departments. The Committee provides advice to the Comptroller's Office, who continues to refine budget estimates from January until early April to develop the budget for the next fiscal year. In late April, a draft budget is developed and presented to the Finance and Audit Committee of the Board of Governors. From there, a final budget is presented to the Board of Governors in early May.

Changes

Budget changes are required when an account holder is moving budget dollars between or within departmental operating accounts and/or revenue accounts.

Departments are asked to complete a Budget Change Form and forward it to the Accounting Office. If the budget change form incorporates non-discretionary items such as salaries or revenue items, the budget change form must be sent to the Comptroller's Office for authorization. All information must be clearly indicated on the forms, and the explanation should be included in the space provided. The forms must have the signature of the signing authority and the dean where applicable.

To transfer funds to a research account from an operating account an Authorization to Transfer Funds Form must be completed.

Tara Judson
Comptroller
Department: 
Comptroller's Office
Phone: 
(902) 566-0360
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