It was a new, innovative approach to budgeting at the University of Toronto that relied on faculties to craft their own creative solutions to the challenge of working with limited resources.

The goal: better-informed decisions and the transparent, rational allocation of funds.

The result: six years after introducing its new budget process, the university is helping other institutions adopt the same approach.

And U of T has taken the gold in the Institute of Public Administration of Canada (IPAC)/Deloitte Public Sector Leadership Awards– created to recognize excellence, innovation and impact in the public sector.

Read more and watch the clip: U of T Budget Model Wins Gold!