As part of the Financial Planning process, the Carryforward Policy is intended to establish a framework under which annual operating Unit deficits or surpluses will be managed at fiscal year-end. The objective is to provide Units with the opportunity to manage funds prudently over time.
Please note, as part of the unit budget planning submission cycle, divisions and colleges went through an in-depth review of their budget spending plans for the 19/20 fiscal year. The plans covered all operating spend which included proposed spend plans on carryforward budgets that received sign-off by each planning unit’s respective Vice-President. As such, to avoid redundancy in effort, we will not require the carryforward templates be filled and submitted for 19/20.