As I mentioned last month, one of my first goals is to implement a new budget process and have a University budget in place for the next fiscal year on July 1. I’m happy to share that we are midway through the process timeline – budget submissions are being provided and campus units have begun to present budget information to Finance and Operations leadership. These budget presentations will continue through May and will establish a baseline budget for our entire campus. Our approach is to focus on gaining visibility on revenues, expenses, and campus needs, develop a baseline budget for future discussions, while holding off on any reallocation discussions at this point. We have set an aggressive timeline for campus units and for ourselves to complete this process; however, it is critical that we begin the new fiscal year with a realistic understanding and campus-wide visibility of strategic issues, program challenges (including staffing, resources, enrollment) and funding challenges. Having this information in advance of the new fiscal year allows us to put into perspective what we think the University needs to operate efficiently. It will also place us in a better position to understand how legislative decisions might impact our campus.
Throughout this process, I have been grateful to learn about our campus partners and the inner workings of our departments. The collaborative efforts I’ve witnessed have been exceptional, and I appreciate your continued partnership and flexibility during this exciting time!