How Our Model Works
A highly collaborative, multi-phased approach was taken to design and build 兔子先生传媒文化作品鈥檚 budget allocation model. The redesign process officially launched in December 2020, building on stakeholder interviews conducted in 2017 and 2019. The new model was launched in fiscal year 2022-23.
Model Design
兔子先生传媒文化作品鈥檚 budget allocation model leverages an incentive-based methodology where school and colleges receive annual budget based on student credit hours, enrollment, student retention and graduation.
罢丑别听兔子先生传媒文化作品 Budget Model Redesign: Executive Summary听provides an overview of our campus budget allocation model, the process by which it was developed, the manner in which it meets the goals set forth by campus leadership, and the timeline and associated processes for its implementation in fiscal year 2022-23 (鈥渉old harmless鈥 year) and beyond.
罢丑别听Final Budget听Model Recommendations听presentation听includes the full, detailed budget allocation model recommendation presented to the Executive Sponsors by the Design and Strategic Alignment Committees in May 2022.
罢丑别听Interactive Budget Allocation Model flowchart听includes definitions of听how the budget is allocated, explains听the reasons behind budget model decisions, and examines the anticipated impacts of the budget model components.
The were approved in April 2023 and provide detailed information on the qualitative portion of the budget model.
See below for definitions of听key components of the campus budget model and answers to the most frequently asked questions.
Goals for the Campus Budget Model
- Provide听greater flexibility听for strategic investments and to respond to the rapidly changing higher education landscape, including opportunities and crises that may arise.
- Increase听transparency, enabling听the campus community听to better understand and engage in budgetary discussions that further听the university鈥檚 mission and strategic objectives.
- Better reflect our values and priorities, instead of reflecting legacy decisions that may no longer be relevant.
- Provide enhanced incentives to support and reward growth in key areas, respond to declines, and ensure accountability for the use and allocation of funding.
- Focus on the whole听allocation, and not just the incremental changes that might occur year-over-year.
Conversations held with campus stakeholders over the past few years point to a budget model that should:
- Reflect and execute the university's mission and priorities
- Be understandable, easy to manage, logical and transparent
- Promote and reward performance, success and innovation
- Foster trust and responsibility around decision-making
- Provide predictable funding to support our ability to be strategic in our planning