Infrastructure Operating Fund (IOF)
About the Infrastructure Operating Fund (IOF)
The Infrastructure Operating Fund (IOF) is designed to contribute to the operating and maintenance costs of CFI-funded infrastructure.
When submitting any proposal for CFI infrastructure (LOF or LEF and NIF), applicants and institutions must demonstrate that they have adequate funds to ensure the infrastructure will be operational and sustainable for at least five years. The IOF helps cover a portion of these costs to maximize the efficient use of CFI-funded infrastructure Each institution is responsible for deciding how their funds will be divided among projects eligible to receive IOF. Institutions can distribute their IOF allocation based on actual operating and maintenance needs, instead of allocating the exact amount to the project that generated it. This offers institutions maximum flexibility to support projects with different needs and scope, while ensuring accountability. Every successful CFI project generates an IOF fund equal to 30% of the CFI contribution.
In 2013, McGill ratified a policy governing the allocation of IOF funds. In August of 2013 McGill revised its Plan for the Operation and Maintenance of Infrastructure funded by the Canada Foundation for Innovation (CFI); to access please click here. Once a new application is awarded and its corresponding new CFI fund opened at McGill the ISI unit will contact the Principal Investigator and provide Instructions for access to the IOF.