The NJIT Budget Model Redesign Project
任务
The budget model redesign project will establish a new incentive- and resource-allocation based budget methodology that is decentralized and data-informed and which motivates creativity leading to new and enhanced revenue streams.
新模式, which will be collaboratively developed with broad representation will improve budget transparency and foster localized budget making and responsibility to ensure the university’s overall fiscal health now and into the future.
Guiding Principles and Goals
- Align revenues and expenditures with college and unit-level operations and our institutional strategic priorities.
- Incentivize resource growth and fiscal stewardship.
- Distribute resources using a predictable and clear simple methodology that allows for multi-year planning.
Anticipated Outcomes and 活动:
- Start budget development with anticipated revenues and build unit-level expense targets accordingly with unit-level discretionary reserves to support one-time new initiatives funding and budget contingencies.
- Improved forecasting and multi-year budgeting.
- Improved data-modeling for new and continuing enrollments by college.
- Align revenues and spending now and in the future with a multi-year fiscal sustainability plan.
Budget Model 发展 Status and 沟通计划:
2023年春季: Budget Model Working Groups meet throughout the Spring semester to develop the key elements of the new Budget Model.
沟通计划:
- Executive Budget Committee Alignment Meeting - 8/24/23 - Present the budget model that was developed through the Budget Model working group to the Executive Budget Committee Members
- Budget Model Working Group - 8/29/23 - Present revisions to the Budget Model based on feedback from the Executive Team
- President’s Council Meeting – 9/20/23 - Overview of the Budget Model Framework and Panel Style Q&A
- Audit and Finance Committee - 9/21/2023 - Overview of Budget Model Framework
- Budget Managers Advisory Group - 10/18/2023 - Overview of Budget Model Framework
- University Senate Committee on Finances - 10/19/2023 - Overview of Budget Model Framework
- Faculty Senate Meeting - 10/24/2023 - Overview of Budget Model Framework
- Deans Meeting - 11/09/2023 - Overview of the new Budget Model
- College Budget Model "Deep Dives":
新- 12/6/2023
cla - 12/13/2023
Hcad - 2023年12月14日
Ywcc - 2023年12月20日
MTSM - 2023年12月21日
- Academic Leadership Committee - 1/10/2023
- Support Centers Budget Model "Deep Dives":
REDCO/设施 - 3/11/2024
General Support - 3/18/2024, 4/9/2024 and 5/28/2024
Student Support - 4/15/2024 and 5/13/2024
研究 Support - 6/3/2024
发展 & 校友 Relations - 6/4/2024
- 社区公开论坛
2024年秋季
Project Team Structure
Budget Model Redesign Task Force
Budget Model Redesign Task Force
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Budget Model Working Groups
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演讲
EAB - Higher Education State of the Sector - 10/25/22
EAB - Higher Education State of the Sector: The Fight to be Chosen - 10/25/22
了解更多Faculty Senate Briefing - 11/8/22
Faculty Senate Briefing - 11/8/22
了解更多EAB - Aligning Budget Models with Strategic Goals - 11/11/22
EAB - Aligning Budget Models with Strategic Goals - 11/11/22
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Budget Model Redesign Framework
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