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Annual Budget Process

The annual budget framework outlines the process of multi-year budget planning, review and decisions. It’s designed to assess multi-year financial health and to allow leadership to make better financial decisions that support campus and divisional values, priorities, and goals. 

Budget Conversations will focus on:

Financial sustainability

Alignment of on-going expenses with sources of on-going revenue and deficit resolution (as applicable and with clear plans to resolve outstanding issues in a timely manner) will be the focus of tactical financial health meetings with principal officers.

Progress relative to campus and divisional strategic plans

Looking at both unit actions and outcomes to determine what is working and what should be discontinued or re-oriented.

External revenue expansion

Academic divisions and revenue generating departments are encouraged to pursue additional external revenues and generate net business income from operations, whenever appropriate. All academic, student support, and institutional support units should explore external funding opportunities (e.g., government, corporate and private foundation grants, and philanthropy) to achieve campus and divisional strategic goals and aspirations.

Operational effectiveness

All units must continually review business operating and organizational models to improve operational effectiveness (and reduce cost structures). Additionally, principal officers are encouraged to pursue opportunities for cross‐unit/divisional collaborations that will enable more synergistic and efficient operations.