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Financial Services

 

 

Budgeting Basics

With total revenues of more than $900 million, the University of Manitoba is the largest post-secondary educational institution in the province.  Approximately two-thirds of that revenue is recorded in the university’s general fund which funds its academic, administrative, operational and ancillary costs.  The remainder is recorded in the restricted funds, which support the capital expenses, research and other special activities as well as the staff benefits and trust funds.

The Financial Planning Office plays a central role in the coordination and development of the annual operating budget.  Effective 2018/19, the University of Manitoba implemented a more decentralized budgeting process and transition of processes and key changes related to the new budget model continue in 2019/20.

Annual financial plans, rather than detailed budgets, are created each year for all restricted funds.  The preparation of these annual plans is coordinated by Financial Services and involves collaboration and consultation with relevant stakeholders.