1. Obstetrics & Gynaecology Leadership Training Program - Finance
Faculty of Medicine
Obstetrics & Gynaecology
Leadership Training Program - Finance
Faculty of Medicine Finance Team
UBC budget model
Now – current financial balances and forecasting
Future – budgeting for the following year
Vision – Long-term outlook
Other Resources

2. Faculty of Medicine Finance Team
Establishment of Faculty of Medicine Finance team
Cluster model
Re-organization in April 2018
Academic Finance
Education and Administration Finance
Operations Finance
Role of Academic Finance team
Support for general operations, research and education
Think of us as your financial toolbox

3. UBC Budget Model Fiscal year is from April - March
Old Budget Model (up to March 30, 2010)
Annual increases funded by the University
New model - Tuition Allocation Model (as of April 1, 2011)
Funding increases tied to increase in tuition revenue
Department budgets and forecasts are inputted in Hyperion
Financial reporting is focused on general purpose operating (GPO) funds
G0000 – General Purpose Operating
G0002 – Fee for service
G0003 – Salary Billbacks
Other fund types are tracked and reviewed within the department
Research
Endowment
Specific Purpose

4. Now – Current Financial Balances & Forecasting
Best source of current financial information is FMS nQuery
Tip for Research Funds – budget balance versus cash balance
Other information on FMS (found until Project Name)
PG Manager
Signing Authorities
Research Finance Officer
End Date/Authority to Spend End Date
Forecasting
Year-end forecasts reviewed and submitted quarterly
Variances reported at a line account level
Main impacts:
Changes to faculty/staff
Temporary vacancies
Salary changes
Increase or decrease & timing of non-salary expenses

5. Future – Budgeting for the Following Year
Budget season normally occurs in late September – October
Budget discussions held starting in July/August
Main budget discussion points
Changes to faculty/staff
Temporary vacancies
Salary changes
Increase or decrease & timing of non-salary expenses
New initiatives
Departments submit a budget presentation for review
Budget submission generally include:
Department budget for the following year
Five-year financial plan and variance explanations
Five-year hiring plan
Departments may be selected to present to the Budget Committee
Provides platform to discuss the strategic plan and corresponding budget drivers

6. Vision – Long-Term Outlook
Direction of the department/division & keys to success for long-term viability
5 to 10 year plan at the division level is helpful in mapping out your vision
Faculty levels and mix
Focus : Clinical versus Research
Track : Grant-tenure versus tenure-track
Funding
Based on current budget model, GPO funding is generally fixed
Salary increases occur annually and are not fully funded by the University
Other sources of funding is critical to long-term success, including:
Salary awards
Research Grants
Endowments

7. Other Resources Training through UBC
Suggested courses
Accounting 101
Navigating FMS nQuery
Contact information
Farrell Louie, Senior Finance Manager, Academic Finance
x.5203