Aligning Institutional Budget Models to Strategic Goals
Download the executive brief for an overview of the three imperatives of budget model redesign. To dive deeper into 13 budget model decision points, download the full report.
Persistent inflation rates, rising material and utility costs, wage pressures, and deferred maintenance are increasing overall operational costs in higher ed. Institutions need to rethink their budget models to achieve long-term financial sustainability.
Most models tend to be either centralized or decentralized, and while neither model is perfect, higher ed leaders are increasingly adopting hybrid models that utilize the best of both worlds. The right budget models help institutions respond to immediate pressures and proactively prepare for future financial challenges.
This brief discusses three ways business executives should focus their redesign efforts to have the most impactful budget model elements and align their model to their strategic goals:
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Create unit-level financial accountability
Allocate some revenues and costs to align unit-level operational responsibility with institution-wide financial imperatives
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