As a result of many facilitated meetings by the steering committee and valuable feedback from constituents across campus, the following have been selected as the guiding principles behind the university’s new budget model.
Resource Allocation, Management, and Planning Guiding Principles
- Encourage integrated planning that aligns resource allocation with the University’s mission, values, and strategic priorities.
- Allocate resources by considering both long-term and short-term needs through a process that incorporates feedback across University constituents.
- Promote responsibility and accountability through enhanced visibility and planning, both locally and university-wide.
- Incentivize performance and effective management of revenues and expenses.
- Provide reliable, trusted, and timely data for effective decision-making over time.
- Create a budgeting process that is simple and transparent.