Forecasts

Forecasting Objective

Forecasting at the departmental, divisional and the university levels is to ensure efficient and effective use of funds, while avoiding deficits.  At OISE, the departmental and unit forecasts are consolidated into a divisional submission and forwarded to Financial Services where it is integrated into the University forecast. 

Although requested by central Financial Services, forecasts are also a valuable tool in managing unit, departmental and divisional fiscal operations.

Components of the Forecast

A completed forecast results in a revenue and expense variance.  These two components are then netted to determine overspending or underspending for individual departments/units, which is the expected forecast for that fiscal year.

Deadline for Completing Forecasts

Completed forecast forms are due and to be submitted to Cheryl Rhind based on the schedule below.

Documents Needed to Complete Forecast

Documents needed to complete forecast are located in the right column and include:

• Forecast Form 1 & 2
   
• Forecast Form 3
   
• Forecast Tool (used to determine current expense budget only)
  
   

Resources available in the right column include:

• Deadlines
   
• Memo from Financial Services
   
• Memo from OISE Comptroller
   
• Forecast Instructions

Assistance is available!

Workshops are offered by the Finance Unit in November and February to assist in completing the forecast.

Helpful hints in completing your forecast are available on the Financial Services website and in the OISE forecast instructions.

Contact Cheryl Rhind for additional assistance.