Finance Budget Modeling

Charge

The Finance and Budget Modeling Task Force will create a new budget model that is transparent, data-driven, supports entrepreneurship and innovation, and aligns resources needed for our strategic mission, vision and themes. In addition to assessing our current financial practices, this task force will develop strategies to optimize our financial resources and our expenditures by adopting best financial practices.

 

View the Initiative Brief View Taskforce Members

Guiding Principles

  • Align resources with institutional priorities (supporting students, as that is part of our institutional policies, priorities)
  • Support the decision-making process with reliable data and analysis
  • Improve budget transparency
  • Incentivize revenue growth and cost effectiveness
  • Improve fiscal accountability and management of resources
  • Evaluate budget process periodically and adjust as necessary

Meeting Minutes, Documents and Presentations


Timeline

October 2017 – December 2017
  • Finance and Budget Modeling Task Force Launched in mid-October 2017
  • Huron Consulting Group Phase I -  Due Diligence with Financial Diagnostic
January 2018 – March 2018
  • Steering Committee established (January 2018)
  • Huron Consulting Group Phase II – Budget Model Development
    • Model Vision Development (January 2018)
    • Model Structure Development (January – February 2018)
    • Pro Forma Model Development (February – March 2018)
    • Scenario Testing and Sensitivity Analysis (Late March 2018)
    • Town Halls
      Tuesday, March 27 | 1:30 – 3:00 p.m. | Retama Auditorium, UC 2.02.02 | Main Campus
      Wednesday, March 28 | 3:00 – 4:30 p.m. | Frio Street Building, FS 1.512 | Downtown Campus
April 2018 – July 2018
  • Huron Consulting Group Phase III – Stakeholder Engagement
    • Deans Model Orientation and Review (April 2018)
    • Department Chair Meetings (Mid/Late April – May 2018)
    • Additional Stakeholder Engagement: Budget Model Panel Discussion (June 26, 2018)
    • Ongoing Model Refinement (April – June 2018)
    • Budget Model Training (June or July 2018)
    • Deans Retreat (July 16, 2018)

Subsequent phases will be launched as needed.