h3. 3.4.1 - The repository shall have short\- and long-term business planning processes in place to sustain the repository over time.

*Introduction*

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OCUL business planning is supported on an annual and multi-year basis. Annual operating budgets are developed and approved in the context of three-year forecast budgeting.&nbsp;

*&nbsp;*

_Scholars Portal_

OCUL developed Scholars Portal with funding support received from the Ontario Innovation Trust in 2001-02. The OIT-funded development project was completed in December 2005. \\

From January 2006, OCUL members assumed full responsibility for sustainability of Scholars Portal. The OCUL directors receive semi-annual reports on Scholars Portal and are responsible for approving all substantive and strategic directions. Regular business and financial planning ensures the continued viability of OCUL’s preservation operations. The Scholars Portal Sustainability Budget is the annual operating budget, covering all revenue sources and expenses. The main expense areas are staffing, hardware, software, and operating overhead. The budget includes allocations to special restricted funds which support technology refreshment, new initiatives, and an operating reserve.

*&nbsp;*

_OCUL budget planning, approval and monitoring cycle_

At each Spring Directors meeting:
* Early budget planning for      the following fiscal year take{color:1f497d}s{color} place.
* Focused discussion on      strategic priorities, funding sources, challenges and opportunities and      new initiatives\\

At each Fall Directors meeting:

Budget approval for the following fiscal year based on the following
* Spring Directors meeting      discussion
* Current year variance and      year-end projections
* Updated forecasts, and
* Any new information that has      been identified\\

Three-year budget forecast {color:1f497d}is{color}presented each year on a rolling basis. Revisions {color:1f497d}are{color}made annually at the Fall Directors meeting\\

Budget documentation will be:\\
* Annual combined budget for      all funds managed and flowed by OCUL, along with balance sheet, individual      budgets, variance report, year-end statement and administrative cost      tracking.
* Three-year combined budget      for OCUL and SP
* Monthly variance analysis      reports {color:1f497d}are{color} reviewed by the OCUL      Executive Director and posted on {color:1f497d}the{color} OCUL      Directors website

*Responsibility*

_OCUL Executive Director_

_OCUL Directors_


_SP Director_

*Relevant Documents*

# OCUL/SP Financial Plans (available on request)
# OCUL Directors Meeting Final Reports ([http://spotdocs.scholarsportal.info/display/Rep/Latest+Directors%27+Meeting+Documents][digests available online|http://spotdocs.scholarsportal.info/pages/viewpage.action?pageId=98435334] , full reports on request)