Budget Work Group Update – August 27, 2014

Following a summer break, the Budget Work Group will reconvene in the coming weeks to review the framework for a proposed institutional budget model—a revised system of budgeting and planning that will better support long-range planning and decision-making.

An improved budget model also will:

  • Help the university more effectively align its resources with its academic priorities;
  • Promote revenue generation through entrepreneurial behavior in all departments; and
  • Address the challenges of ongoing reductions in state funding.

Since it began meeting last year, the Budget Work Group has discussed the need for more consistent cost control and budgetary accountability at all levels. A revised budget model also will help address these issues through greater transparency and a common understanding of the budgetary implications of decisions made at all levels.