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«To: Academic Divisional Finance Officers From: Sally Garner, Executive Director, Planning and Budget Re: 2010-11 Budget Date: February 25, 2010 The ...»

To: Academic Divisional Finance Officers

From: Sally Garner, Executive Director, Planning and Budget

Re: 2010-11 Budget

Date: February 25, 2010

The attached material contains information for the preparation of your 2010-11 budget. The

divisional budgets are based on the University’s Long Range Budget Guidelines, which are subject to

final approval by Governing Council in April. I hope that most of you will be able to attend the

Divisional Financial Officer (DFO) session on March 2 at 10:00am in the Governing Council Chamber. We will provide an overview of the 2010-11 budget and details on this year’s budget process. If you are not able to attend and would like further information, or a copy of the PowerPoint slides, please let me know.

The 2010-11 budget and projections for outer years incorporate the most recent adjustments to graduate expansion allocations as communicated by the Provost in the memo dated January 14, 2010.

Undergraduate growth is currently subject to a significant system-wide discount. Unless year-end funds are made available, we can expect a shortfall of $16.2M in 2009-10 (compared to a budgeted shortfall of $4.6M). Undergraduate enrolment plans for 2010-11 and beyond have been reviewed and approved by the Provost as part of the annual budget review process. In an effort to provide some internal stability within the current uncertain funding environment, divisions will be held to these plans in 2010-11 in that, in the event of discounted funding, enrolments over approved targets will not be funded. Enrolments up to approved targets will be subject to the discount resulting from a system-wide shortfall, if it occurs; the discount will be spread equally across all undergraduate BIUs, as in the past recent years.

Endowment revenue and offsetting expense budgets for 2010-11 are based on a projection of a $7.00 per unit payout. Further information is included in the attached instructions.

Please do not hesitate to contact me, or your Planning and Budget officer, if you need assistance in preparing your 2010-11 budget.

To: Academic Divisional Finance Officers From: Sally Garner, Executive Director, Planning and Budget Sandeep Malik, Senior Manager, Budget Planning and Administration Trevor Rodgers, Manager, Academic Planning and Analysis and IT Initiatives Re: 2010-11 Budget Instructions Date: February 25, 2010 The attached material includes budget instructions for 2010-11. The package includes your target budget letter for 2010-11 and long range budget projections through 2014-15 (schedule 2a). In addition to schedules supporting the underlying enrolment, revenue, cost, and student aid attributions, we have included an estimate of the year-end adjustment for 2009-10.

Additional university-wide data are available in the supplementary budget schedules inthe University portal.

1. Divisional Long Range Projections Divisional long range projections and the 2010-11 budgets are based on the University’s Long Range Budget Guidelines (LRBG), which are subject to final approval by Governing Council.

The LRBG are available as Supplementary schedule S1.

2. Budget to Actual Adjustment for 2009-10 (Schedule 3) Each year actual year-end results for revenue and expense vary from the budget and variances are assigned back to academic divisions on a slip year basis. To assist you in planning for 2010-11 we have prepared an estimate of your 2009-10 year-end divisional variance based on actual fall 2009 enrolments and the latest University revenue and expense forecast. This variance estimate is for information only. The final adjustment will be processed in June 2010. The amount specified in schedule 3 of this package should be considered when preparing your 2010-11 cost centre plans.

3. Enrolment Graduate expansion targets, as communicated to you in the Provost’s January 14 memo, are expressed in fall eligible FTE spaces within separate Ministry-defined masters and doctoral pools.

Graduate enrolment for revenue and cost driver purposes are expressed in headcount or total FTE measures. Schedule 4 of the package includes information on all enrolment measures. 2010-11 Enrolment Target Letters will be available in the portal within the next week. Please do not hesitate to contact Trevor Rodgers or Ken DeBaeremaeker if you have enrolment questions.

Page 2 of 9

4. Access to Supplementary schedules

1. Go to http://portal.utoronto.ca

2. Log in using your UTORid and password.

3. Click on “My Page” in the upper right corner.

4. Click on “Planning & Budget Documents” under “Organizations in which I am participating”.

5. Click on “2010-11 Budget Schedules (Supplementary)”.

6. If you do not see the link to the Planning & Budget Documents organization, contact us to have your UTORid authorized for access.

5. Repayment of Academic Deficit Financing Fund In 2009-10, divisions borrowed a total of $17.8M of the $45M that was made available in the Academic Deficit Financing Fund. This amount will be repaid in five annual instalments beginning in 2010-11. For those divisions who accessed the Fund, repayments will be collected in May 2010 similar to the Accumulated Deficit Repayment. If your original 2009-10 divisional budget plans included this OTO recovery (use of cost element 790001) it should now be eliminated.

6. Endowment revenue for student aid / student aid expense The 2009-10 budget was constructed with ZERO endowment revenue for student aid, but • with essentially the full student aid expense. In order to leave divisional budgets intact and to ensure that divisions had the funds available to meet student aid requirements, the endowed student aid expense amount was flowed back as an OTO transfer. This process will not be necessary in 2010-11 as the budget includes endowment revenue and offsetting expense in the normal manner.

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These 2010-11 operating budget guidelines provide detailed instructions for the completion of your budget. The budget process is similar to that of last year. New business officers are welcome to contact their Planning and Budget Officer for assistance.

To ensure your divisional budget is available on May 1st, 2010 please complete and submit your budget by April 5th, 2010. If you have any questions or concerns please contact your Planning and Budget Officer.

A. The Funds Management Budget

1. An original budget transaction will be created in Funds Management Budget for the budget figure from your divisional budget schedule.

2. Initially your 2010-11 divisional revenue budget (including recoveries) on your divisional budget schedule will be equal to your 2009-10 divisional revenue budget. If necessary, you should adjust your revenue to reflect any changes to revenue for the 2010-11 fiscal year. (See Section D for specific instructions.)

3. All changes to funds management hierarchies and cost centre groups must be requested in writing immediately. All such requests should be directed to FAST in Financial Services (see AMS documentation for procedure). A copy should also be sent to your Planning and Budget Officer.

B. Cost Centre Plans

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5. Cost centre plans must sum to the total expense and revenue balances in Funds Management Budget Version 99. At a minimum, divisions must plan at the level of cost elements listed in Section E.

6. Internal expense recoveries should be set up with unique cost elements. All recoveries should be planned for in the 77XXXX (external) or 79XXXX (internal) series of cost elements. The salary cost elements were reduced in number to align with HRIS. You should use the appropriate cost elements (bolded in Section E below) when inputting your plans.

7. Divisions must seek Provostial approval for the use of Negative Appropriation (cost element

790000) in the event one is required to balance the budget.

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9. The Cost Centre Planning Overview report can be used to generate a paper copy of cost centre plans.

10. Cost Element 861010 should be used to plan for divisional reserves and contingencies.

11. Cost Element 861000 (Professional Expense Reimbursement Allowance) should be used to set aside the provision for the negotiated UTFA PERA rate, $1,250 per year as of July 1, 2008.

C. Salary and Benefit Planning and the B6

12. Training in the use of the B6 application is available on-line and can be accessed through the Planning and Budget website: http://www.planningandbudget.utoronto.ca

13. If you have trouble accessing the ITutor application contact AMS help at:

http://www.utoronto.ca/ams/help.htm (Please direct your help form to AMS General) or by phone at (416) 946-3034

14. B6 Salary Detail information is consistent with the February payroll. This B6 data was obtained from HRIS and any missing and/or incorrect information may signal that information is missing and/or incorrectly set up in HRIS. Salary changes arising after the February payroll and all planned (TBA) positions must be reflected in your submission. Salary B6 information can be transferred into Excel worksheets using the B6 SAP Module.

15. The salary cost elements must align with HRIS. Please use the appropriate cost elements (bolded in Section E below).

16. The following cost elements have been established to allow you to set aside funding for compensation increases: Academic Appointed (800130), Academic Non-Appointed (800140), Admin (800440), Union (800640), Benefits Appointed (800940), Benefits Non-Appointed (800950). Please refer to Supplementary Schedule S4 for the LRBG Assumptions.

17. Cross appointment salary and benefit arrangements should be finalized before the budget is returned to the Planning and Budget Office.

18. Consistent with Provostial directive, faculty appointments effective after January 30 should be treated as new hires when preparing faculty budgets. As such, these positions should not attract salary increases in July. With the B6 application, this criteria is facilitated using the new hire indicator.

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20. Benefit budgets should be established at the Standard Benefit Rate (SBR) applied to the salary base. The SBR for appointed staff is 23.75% and for non-appointed staff is 10.00% for 2010-11.

D. 2010-11 Divisional Revenue (including recoveries)

21. A detailed revenue plan (including recoveries) should be completed using the planning function of the Financial Information System. Please provide as much detail as possible in your revenue plan by using the long text function of FIS. You should use the detailed planning option if more than one activity is included in a revenue cost element. (Identify each activity separately as well as the budget for each.)

22. Upon finalizing your revenue plan for 2010-11 there is a report available (Cost Centers: Object Comparison) which will summarize and compare these plans by revenue cost element to those of the previous year 2009-10.

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Page 7 of 9 800201 Intgrt teaching sal 800270 Comp:Acad:ErlyRtrmnt 800423 Comp:Admin:ExtPayrol 800425 Admin:early retiremt 800427 Recvble Admin salary 800440* Comp:Admin:Salary Provision 800640* Comp:Union:Salary Provision 800940* Benefits:Appointed Provision 800950* Benefits:Non-Appointed Provision 800970 FringBenExtPayr 801010 Pay:Academic Appointed 801015 Pay:Adm/Clinic Stip Appointed 801020 Pay:Librarians Appointed 801030 Pay:Research AssocAppointed 801040 Pay:Admin Appointed 801050 Pay:Union Appointed 801110 Pay:Casual Acad Non-Appointed 801140 Pay:Casuals Admin Non-Appointed 801150 Pay:Union – Temp Non-Appointed 801160 Pay:Stipend Teach Non-Appointed 801165 Pay: Sess Lectrs Non-Appointed 801270 Pay:Teach Assist Non-Appointed 801310 Pay:CDN- UG 801311 Pay:Foreign- UG 801320 Pay:CDN- GR 801321 Pay:Foreign- GR 801330 Pay:CDN-Post Doc Fel 801331 Pay:Fgn- Post Doc Fel 801910 Pay:BenAppt 801920 Pay:BenNonAppt 820010 Furn: Purchase 821010 Equipment: Purchase 821030 Equip:repair/maintenance 821110 Equipment: Computing Purchase 821420 Equip:Copier:Leased

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