The Budget Task Force completed its work in May of 2012 on Cornerstone Accountabilitty and Sustainability; Theme 1: Fiscal Health; 1. [develop] A Transparent and Responsive budget System. The Task Force provided two optional recommendations. The first is to modify our current budget system by incorporating elements of “Initiative-Based” budgeting utilizing a campus-wide Budget Committee. The second is to implement a Responsibility Center Management (RCM) budget system. The Task Force notes in its report that these can be seen as alternative approaches or a series of incremental steps.
In discussions on campus it was noted that the Initiative-Based budget approach fits in with our current culture while the RCM approach would drive a cultural shift. Both models would be heavily reliant on the use of performance data for budget decisions.
These recommendations are being presented to various groups on campus before the Senior Administration makes a decision to move forward on a specific approach.
The full report can be downloaded here ( Report and Recommendations_FINAL_5.14.12 ) (pdf).