1 — PURPOSE
The purpose of this policy is to establish principles and practices to be followed concerning miscellaneous revenues generated within the General Operating Fund.
2 — PHILOSOPHY AND PRINCIPLES
The activities within the General Operating Fund are meant to support the mission of the University.
Therefore, departments are provided with budgets that are adequate to support their activities as determined through the budget development process.
In general, the University does not expect departments to generate revenues to support their activities, nor does it permit them to use University resources, including staff time, to generate revenues to increase their funding above what has been allocated through the budget process.
In specific situations where departments are authorized or expected to generate revenues, any revenues collected in excess of budget, or in excess of the increased and unbudgeted costs that resulted from providing the services in respect of which the revenue was generated, will not remain with the department but will be treated as miscellaneous general revenues.
3 — POLICIES AND PROCEDURES
1. Departmental expenses and revenues are budgeted each year.
2. Departments which generate revenues should aim
- a) where there is a budget for the revenues and expenses, to generate the amounts that the budget calls for them to generate, or
- b) where there is no budget for the revenues and expenses, to generate revenues that will cover the unbudgeted expenses made necessary to support the activity.
3. If revenues are below these amounts then the shortfall will be managed centrally.
4. If revenues are in excess of these amounts then the excess will also be managed centrally.
5. Where a department is authorized to collect revenues, whether through the budget or by the appropriate vice-president in consultation with the Controller, the method of collection must be approved by the Controller or their designate in advance.
6. All fees related to courses or residences must be collected either by the Registrar’s office or on-line.
7. All fees that are collected by faculty or staff must be brought to Financial Services in a timely fashion
8. All external billing must be processed through Financial Services.