University Budget Committee Agenda and Responsibilities
"Explore the University Budget Committee's meeting agenda, responsibilities, and proposed substructure. Discover the financial data, committee charge, proposed schedule, and subgroups' responsibilities for budget planning. Get insights into evaluating budget models, resource allocation standards, timeline establishment, and communication planning within the committee."
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University Budget Committee Agenda January 24, 2017 2:00 3:00 PM University Center 330/331 Brief Overview of President s State of University Address Committee Members: Responsibility Changes, Commitments & Membership o Additional level of obligation and time commitment o Committee membership Reaffirm current member commitments and/or identify new members Outline Sub-structure and Establish Membership for Workgroups o 1. Budget Mechanics o 2. Budget Benchmarks, Metrics and Standards o 3. Budget Timeline and Deadlines o 4. Budget Communication Plan Management and Controls for Budget and Fiscal Planning o Establish process and procedural changes Outcomes: Establish weekly meetings and committee responsibilities Identify sub-structure, charge for each and related membership
UM - General Fund $180,000,000.00 100% 95% $160,000,000.00 90% $140,000,000.00 85% $120,000,000.00 80% $100,000,000.00 75% $80,000,000.00 70% $60,000,000.00 65% $40,000,000.00 60% $20,000,000.00 55% $- 50% FY12 FY13 FY14 FY15 FY16 FY17 Total Spent Total Personnel Total Personnel as % of Total Spent
Committee Charge: Recommend a budget to the President, by mid-April, for submission to the Board of Regent s May meeting. Budget based on 11,000 student headcount Recommend appropriate/sustainable employee levels Reevaluate the current budget allocation methodology and make recommendations for improvement.
Proposed Schedule (for discussion) Meet weekly until April budget submission is complete 1st Thursday = formal Committee as a whole 2nd Thursday = subgroups working on assigned responsibilities 3rd Thursday = informal report/feedback on subgroup progress 4th Thursday = subgroups working on assigned responsibilities 5th Thursday = subgroups working on assigned responsibilities
UBC Subgroups and Responsibilities Evaluate budget model and develop structural changes for improvement Develop standards/benchmarks to be used in the allocation of resources Establish a timeline (with key deadlines) for the budget process Develop a communication plan for the budget process
Budget Controls and Future Implementation Overview of fiscal rules/procedures to ensure budgetary controls
