Budget Review Process Committee What is our purpose Budget Review Process Committee What is our purpose? What are our deliverables? What is our timeline?

OBJECTIVE Create a budget process that ensures resources are aligned with strategic priorities and that all stakeholders receive appropriate communication on the budget process.

GOALS To create TRANSPARENCY. To engage the campus community in CONSTRUCTIVE budget management. To identify priorities EARLY in the budget process. To ALIGN resources with strategic priorities.

IMPETUS FOR A BUDGET REVIEW State appropriations are not covering our increase in core needs on a yearly basis. Stabilizing enrollment. Increased health care and retirement costs. Not filling open positions or delay in filling open positions to cover payout expenses. Need to fill key new hire positions. Create employee collaboration within the budgeting process.

ESSENTIAL FACTORS Create open and constant communication with all stakeholders. Clearly define articulation of the budget to the strategic plan. To develop yearly budget planning and monitoring processes. Discuss the role of technology. Make it relevant. Build collaboration.

PITFALLS TO AVOID Don’t let short-term goals overrun long-term institutional interest. Start simply, don’t guess in detail. Model initiatives on the margin; do not model the exception.

Budget Review Process Committee This committee will be responsible for the development and the on-going yearly budget review process including the input into key priorities and the master plan. Includes members from all employee groups, Faculty, Support Staff, Professional Staff, Student Programs. Will formalize after project development is complete in order to continuously communicate and execute the budget plan. Co-facilitated by Cabinet and the Budget Director. Create a sub-committee(s), with all employee groups represented, to ensure effective communication.

What Does Our Budget Review Model? Does it combine qualitative and quantitative elements? What input should be included from programs and services? Does it complement the existing budget process? Should individual analysis be done by a representative from each department? What are the possible recommendations? An example… Maintain the program/service at the current level Consider enhancement to the program/service Consider reduction to the program/service Consider elimination of the program/service

Next Steps Determining level of complexity Gathering information Defining tasks Assigning responsibilities

Other Items 5 Year Revenue/Expenses Analysis. Discuss different sources of funding, allocation of those funds and the impact on budgeting. Discuss Foundation funds. Discuss innovative ideas to encourage growth. Discuss community/student involvement.

Discussion and Questions