Finance & Budget Planning
Department Operating Budgets
During fiscal year 2013, Executive Dean Rick Falk convened a committee of department chairs and deans to review the process by which department operating budgets are developed. The primary goal of this committee was to standardize the process and eliminate the budget cuts that departments have had to face for the last several years.
We are happy to announce that as a result of this process, the budget cuts have been eliminated for fiscal year 2014. Departments have been notified of their preliminary budget amounts, which are calculated based on a formula developed by the committee. The formula is:
$2000 X (the number of tenured and tenure track faculty)^2/3 + $1 per credit instructed
Along with the preliminary operating budget amount, departments also received a proposal to standardize the coding of transactions in the general ledger. The Dean's office is currently holding meetings open to department staff and chairs to review this proposal. We are very interested in feedback from departments, as we hope to develop a process that works for everyone and allows us all to report better on the activity in our accounts.
If you have any questions about the budgets, the coding proposal, or the meetings, please contact your service center business staff.