The University Budget Committee is responsible for the oversight of the annual budget preparation process. The Committee reports directly to the University President and is chaired by the Vice President for Finance and Treasurer. The Charge to the University Budget Committee details the purpose, authority and memberships, as well as the schedule and process.
Planning for the coming Fiscal Year budget begins in October.
Annual Planning Calendar
Planning – August through October
- Begin planning for capital needs and identify available departmental capital funding as follows:
- Provost/Vice Presidents to identify capital needs. Coordination as needed with the Associate Vice President of Facilities and Chief Information Officer to develop/update 5-year plan capital plan. Identification of projects for FY 2022.
- Budget Office will meet with Vice Presidents and Provost as necessary to begin the budget process for all relevant units.
Discussion and Presentation – October through January
- Vice President of Enrollment Management estimates the size of the fall 2021 freshman class and associated discount.
- Graduate enrollment data solicited from the Deans via Provost, Dean of Graduate Studies and Budget Office. Graduate and Undergraduate financial aid operating budget and work waiver requirements identified for the FY 2022 budget
- Housing, Food Service, Institutional Insurance and Pryzbyla Center operations prepare FY 2022 budget presentations
- Salary model, interest expense, endowment payout are completed and included in pro forma
- Provost/Vice Presidents review operating budgets, salary spreadsheets and/or prioritize mandatory increases and capital requests along with available departmental capital funding for presentation to the University Budget Committee
Rightsizing and Balancing - February
- New revenue generation, rightsizing, and priority balancing discussions to finalize FY 2022 budget that will be presented to the Board of Trustees
Submission Period – March
- Designated fund (18/19/59) budgets due March 31.
- Final operating and auxiliary fund (11/15) budgets due March 31.
- Spending plan for carry-forward balances in funds 31/51 due March 31.