Communicate to units updated Economic Resource Model allocations (model computations updated every 2nd year).
Start developing 5 year Faculty financial projections (including estimate of Next Year Plan; Use Q2 budget forecast projection in October ) for Budget Review Meeting with VP Budget Committee.
Units to provide their 5 year financial projection for “Fee for Service” based activities.
Communicate to units preliminary Base Operating funding allocations for following year.
Prepare Q2 budget forecast.
2+2 Annual Planning update meetings with units.
Dean of Faculty, Assistant Dean-Finance, Unit Head and Unit Administrator attend 2+2 meeting.
A high-level planning brief (2-3 pages maximum) is prepared by Academic Unit that covers key issues of unit-level planning and prioritizing regarding curriculum renewal, identification of program-level outcomes, enrollments, instructional complement, and assessment of research impact, along with other considerations in relation to teaching, research, staffing, and facility needs. This document is discussed during the hour long meeting.
Budget Review Meeting with VP Budget Committee.
Units start preparing their annual plan budgets (APB’s) for (G, S, E funds).
Units to produce a consolidated unit APB’s using Faculty’s base operating funding allocations plus other funding allocations and projected expenditures.
Review and discuss financial funding requests from 2+2 planning meeting for next year with Dean’s Executive Group.
Review, finalize and approve individual unit’s APB’s for next year. Submit consolidated Faculty APB’s to University Budget Office.
Prepare Q3 budget forecast.
Decisions surrounding financial requests and approval of faculty hiring plans for next year circulated to faculty units.
Finalize faculty member salary increases and M&P staff merit salary increases.
Dean’s Office communicates final Base Operating funding allocations to units for current fiscal year (includes approved funding requests from 2+2’s and updated faculty and staff salary costs).