The Budget function of Analysis, Planning and Budget is responsible for developing, administering, and monitoring the multi-year, multi-fund budget on behalf of the Provost and Vice-Principal (Academic), the University’s Chief Budget Officer.
In terms of budget development, the unit works with central administrators to estimate major institutional revenue and expense items. It also works with academic and administrative units across the University to incorporate anticipated changes in their activities. Finally, it incorporates incremental budget allocations approved by the Provost and Vice-Principal (Academic) for the upcoming year.
With respect to administration, the unit has ownership of the Banner Budget module. Ownership of the Budget module includes providing access to users, maintaining security, ensuring the functionality of the module itself and communication with other systems (e.g. financial, human resources), and developing enhancements in conjunction with ITS. The unit creates and maintains policies and procedures related to budget allocations and budget transfers, and approves the majority of budget transfers in the unrestricted fund. The unit also develops and provides training to new users, and provides support on a daily basis to existing users.
The unit monitors unrestricted expenses throughout the year. Customized forecasts are prepared and disseminated monthly to every Faculty and major administrative area for their input. Major institutional revenues and expenses are monitored in a similar manner. The forecasts are consolidated to provide an institutional perspective, which is shared with the Budget Working Group and BWG Sub-Group throughout the year for information and/or action.
The consolidated data informs each of the three major budget presentations delivered annually by the Provost and Vice-Principal Academic, as well as McGill’s Budget Book, which is published annually.