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Changes to Budget

 

The original budget in FIS is version 1, while the current budget is version 0.  There are three ways to change the current budget including transfer, supplement and return.  All three methods use the same Budget Revision form

 

Budget Revision Summary

Budget Revision Transfer Supplement Return
    Form Budget Revision Form - indicate transfer Budget Revision Form - indicate supplement Budget Revision Form - indicate return
When to use Transferring funds from one fund centre to another - typically expense to expense Increasing both revenue and expense budgets Decreasing both revenue and expense budgets
Scenario Transfer of funds internally to U of T Expectation of revenue exceeding original budget Expectation of revenue does not materialize
Differences

sender expense to receiver expense

or

sender revenue to receiver revenue

 

both revenue and expense on receiver side both revenue and expense on sender side
Example of completed form transfer supplement return
When not to use Cannot be used to change fund budgets Cannot be used to change fund budgets Cannot be used to change fund budgets
Supporting documentation to be attached to form

Printout of instruction to initiate transfer

Calculation to substantiate the amount of transfer

Evidence of sufficient funds from sender account (FC or Fund report from FIS)

printout of FC or Fund report from FIS

copy of paperwork indicating increase in revenue eg contract

Consult with Finance Office
Authorization Department Chair/Unit Head Department Chair/Unit Head Department Chair/Unit Head
Submit to oise.finance@utoronto.ca oise.finance@utoronto.ca oise.finance@utoronto.ca
Processing done by OISE Finance Planning & Budget Planning & Budget






 





 



























 







 





 

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