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This message is sent on behalf of Serge Bergeron, Budget Director, and Cristiane Tinmouth, Associate Vice-Principal, Financial Services

Dear Colleagues,
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Further to the memo sent by the Provost to each of the Deans and Vice-Principals on 12 February 2015 regarding budget measures, in order to achieve the proposed operating budget target, the overhead recovery fee currently being charged on actual revenues earned in non-1A unrestricted funds, will be increasing from 5% to 7.5%, effective May 1, 2018.Ìý The process for collecting and recording of this fee will continue on a quarterly basis, as before.
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In the month following the end of a fiscal quarter, revenues earned in non-1A unrestricted, non research-related funds during that respective fiscal quarter will be subject to a charge of 7.5%. The resultant amount will be posted to account code, 700694 – Central OH Unrestricted Funds, with the offset being the University’s Central fund to assist with the funding of University priorities and to support general operations.
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All existing exemptions to this fee will continue to be honored.Ìý Please refer to the knowledge base article for additional information using the undernoted link:

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Should you have any questions concerning this overhead recovery fee, please contact Serge Bergeron (ext. 2988) or Ani Kotchounian (ext. 8090).
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Thank you