FAQ

This is a repository for all of the FAQs from around the UBC Finance website. Use the search box to find a specific answer or browse the list of FAQs below. 

Q: Can I view the Forecast and Approved Plan in FMS?

Yes. The Forecast and Approved Plan are loaded to the Planning ledger. Users need to have an nVision report or use an FMS query to extract data from the table LEDGER_BUDG. Users that want to review the Forecast, the ledger is called FORECAST and for the Approved Plan, the ledger is PLANNING.

Q: Do endowment funds go to paying for salaries?

The endowment does not generally fund the salaries of faculty and staff. However, some endowment funds are used for special research chairs, which includes supporting faculty positions in very specific academic areas.

Q: Do endowment funds pay for other operating costs?

No, the endowment fund is separate from the operating budget and is not used to fund the core activities of the university.

Q: Do I have to file a tax return if I am a student?

Even if you have no income, you should still file your income tax and benefit return. As a student, you might be eligible for many credits, deductions, and benefits. You must file your tax return to get them. 

Visit CRA for more information

Q: Do I need a profile?

Yes! Travellers and travel arrangers need a Concur profile to book through UBC Travel, whether you will be booking with a full-service travel consultant or online through Concur.

Q: Do I require a license for a home business?

Yes. Business licenses are required for all commercial enterprises and home-based businesses in the UBC neighbourhood. Visit Campus + Community Planning for more details on how to apply for a business license.

Q: Do you spend the money that is given to you for the endowment?

No, we don’t spend the endowment. The initial amount of money raised, either through donations or through land sales, becomes the principle. We invest the principle and use the money it generates (through interest and dividends) to support the purposes that were specified by donors or by the policies of the board related to land sales.

Q: Does the Hyperion system support Apple Macintosh?

Yes. However, it is recommended that you use Windows for Mac and Internet Explorer 9 to access Hyperion applications. If you are using Mac OS, then please use Mozilla Firefox 3.5 or greater.

Note: SmartView is not supported through Office on Mac.
 

Q: Does the Sustainable Future Pool answer the call for divestment of fossil fuels made by UBC students and faculty in 2015?

The referenda called for divestment of fossil fuels in the UBC Endowment. It was legally determined that divestment of the UBC Endowment from fossil fuels is inconsistent with UBC’s Responsible Investment Policy and UBC’s fiduciary responsibilities.

The SFP pursues sustainability concepts beyond the progressive strategies already being incorporated in the Main Endowment Pool and will have reduced or no fossil fuel investments (currently it has none) and target lower carbon emissions.

Q: How and when can I apply for the UBC VISA card?

The card will be available to the campus community on a prescribed rollout schedule. When your faculty, department or business unit is contacted, as part of the campus rollout, you will have the opportunity to apply for the new UBC VISA Card on an individual or departmental basis.

Please do not apply for the UBC VISA card before your faculty/unit is contacted as your application will not be processed.