Once grants or research funds are approved through the research office, financial services manages the procurement of goods and services, accounting and payment for the goods and services and reporting to grant funders as needed.
Endowments are donations to which a donor has stipulated, as a condition of the donation, that its principal balance be maintained in perpetuity. The donation is invested for the purpose of producing present and future income that may be spent or reinvested with the original donation. Endowments are generally received from external sources and are restricted as to use. The University's policy is to invest the funds in a way that will protect its purchasing power over the long term, thus ensuring that future generations of students and faculty will receive at least as much benefit from the fund as the current generation, and to provide a stable and significant level of support for the University.
Other funds consist of:
- Externally restricted funds such as federal or provincial one-time grants as well as donations. Financial services manages the procurement of goods and services, ensuring expenditures against the funds meet all restrictions, accounting and payment for the goods and services.
- Internally restricted funds and awards such as those used for teaching purposes.
As with research and endowment funds, these funds carry over from one fiscal year to the next.
External research funds — Joan Nuttall — email@example.com
Internal research grants (including President’s Research and Creative Achievement Award) — Carolyn Richards — firstname.lastname@example.org
Endowment funds — Eileen Wells — email@example.com
Other grants and donated funds — Carolyn Webster — firstname.lastname@example.org
Expenditures from other funds — Carolyn Webster — email@example.com
Faculty teaching awards — Carolyn Webster — firstname.lastname@example.org