Central Budget Committee
Introduction
Responsibility Centers enjoy a financial flexibility and independence, as unit heads are empowered to develop their own policies and practices for planning and budgeting. They are expected to remain faithful to the University’s overall mission and values, as articulated in the context of the Academic Plan. The Central Budget Committee, which is advisory to the President, provides the means for institutional oversight through financial planning and coordination of units’ budgets and determining funding priorities. The Central Budget Committee advises the President on budget policy and financial planning for the campus community and in that capacity will:
- Establish institutional funding priorities and budgetary guidelines consistent with the overall institutional strategic plan
- Review the performance of service units, through the periodic use of ad hoc Service Unit Advisory Board
- Regularly update the institutional financial plan, consistent with strategic academic plan updates
- Finalize the institutional budget, and review assessment rates
- Review requests for internal fee increases above inflation or new internal fees
- Serve as the steward for RCM
Principles of the Central Budget Committee
- Supporting the University: Resource allocation shall be in the best interest of the institution as determined by the University Planning process.
- Rewarding Excellence: Excellent programs and new initiatives within or between RC units should be rewarded and encouraged.
-
Upholding the Institution’s Mission: RC units that contribute to the University’s mission should be supported, regardless of their "profitability." The bottom line is only one of many criteria that should be used to allocate resources
Members of the Central Budget Committee
Each member of the Central Budget Committee has a continuing, individual charge to serve as a representative of the campus community as a whole and to avoid behaving as a partisan advocate. The Committee shall have eighteen members:
- President (Chair)
- Two Deans of Colleges and Schools (one appointed by the Provost and one elected by the Deans’ Council) - 3 year terms
- Vice Presidents (five)
- Chair of Faculty Senate
- Chair of the Faculty Senate Finance Committee
- Two at-large faculty (appointed by the Provost from five nominations from the Agenda Committee of the Faculty Senate) - 3 year terms
- One Student Representative (Chair of Student Fee Oversight Committee)
- One Graduate Student Representative (Chair of Graduate Student Fee Oversight Committee)
- Two at-large RC unit heads (appointed by the President) - 3 year terms
- Assistant Vice President for Financial Planning and Budgeting (staff)
-
Associate Provost for Academic Administration (staff)
