Finance and administration leades often view the budget model design as one of the best ways to align stakeholders to financial realities, automate resource allocation decisions, or create a workaround for shared governance.
Seeking to boost unit-level accountability for improving revenue and cost control, colleges and universities across the country are tinkering with their budget models. But budget model changes involve hundreds of decisions, and can lead to many unintended consequences.
Whether you are considering a wholesale model redesign or making targeted improvements, the 13 budget model design decisions outlined in this infographic will help you align your model to your strategic goals, ensuring that the remaining outstanding decisions fall into place. The decisions will help you create financial accountability, safeguard mission-critical activities, and invest in institutional priorities.
This resource is part of the Build a New Budget Model that Advances Your Institution’s Strategic Goals Roadmap. Access the Roadmap for stepwise guidance with additional tools and research.