UBC Okanagan’s budget planning process

Jump to:

The budget planning process

Budget planning at UBCO follows a carefully structured annual cycle that typically spans five months, from November to March. This formal process ensures thorough consultation, careful financial planning, and alignment with both academic goals and operational needs informed by strategic planning throughout the year.

Here’s what the annual budget planning cycle typically looks like:

November: planning phase

The process begins with strategic budget meetings between university leadership and individual faculties and administrative units. These meetings provide a comprehensive “year-in-review” and set the stage for forward-looking discussions about priorities and needs. Faculties and Units prepare budgets in accordance with budget guidelines set by UBCO leadership.

December: Budget committee discussions

University leadership meets to discuss the budget proposals developed by Faculties and Units and consider the strategic priorities, challenges and opportunities. This phase establishes the initial draft budget and resource allocation plan.

January: community engagement

Budget planning updates are shared with the broader campus community, ensuring transparency and gathering valuable feedback from various stakeholders.

February: finalization process

Two key activities occur in February:

• Financial outlook and forecast meetings help refine budget projections
• UBCO draft budget is consolidated into the full UBC draft budget

March: Approval Process

The budget cycle culminates with:

• UBC Executive approval of the recommended draft budget proposal
• Formal proposal submission to the Board of Governors
• Final Board review and approval

UBC Okanagan’s budget model

We use a decentralized budget model, which means that once approved, individual faculties and administrative units are responsible to manage their own budgets while working within the university’s broader financial framework. This approach allows for more responsive and efficient resource management at the local level while maintaining alignment with overall university goals.

Throughout this process, our financial decisions must align with both UBC’s strategic plan and government mandates. The approved budget then sets the framework for the upcoming fiscal year, which runs from April 1 to March 31.

Want to learn more?

UBCO is committed to transparency around its financial planning and management. For those interested in learning more about UBC’s budget process and current financial information, detailed resources are available through the following links:

UBC’s Budget Process       Annual Budget Reports