Internal and external factors pointed to the need for a more flexible, participatory, and transparent model for the future that could:
Some revenues are designated directly to the units generating them, while others are allocated:
Tuition revenue is allocated as follows:
State appropriation revenues are allocated to incentivize three major areas:
Because the new budget model allocates the majority of revenues directly to colleges, the administrative/support units are left unfunded. Therefore, the net expenses (expenses reduced by any revenues generated) of these units are assigned to nine pools. These pools are then allocated to the colleges using the following allocation variables.
The Central Revenues Pool is created through a participation rate on college revenues. It is to be used for the following purposes:
The Central Revenues Pool will be broken into two portions: Subvention Fund and Strategic Initiatives Fund.
For FY18, it was decided by the President, in consultation with the Provost and SVP Admin/Finance, to set the amount at $1 Million. The amount of strategic initiative funds will be reviewed each year to determine the amount.
The following process will be used for requesting strategic initiative funds:
There are three new budget governance committees:
There is one existing committee relevant to budget governance:
Detailed information about each of these committees can be found here:
Each new budget governance committees include representatives from various campus constituencies:
Budget Executive Committee
Central Unit Allocations Committee
Space Management and Deferred Maintenance Committee
University Curriculum Committee (UCC)
In order to achieve broad and diverse representation on the various budget committees, implementing a rotation of members will take place. The rotation will be as follows:
The budget development document, which should be issued by the CFO to the Vice President and Deans by approximately the end of October, should include the following: