CMU’s budget model review underway

Central Michigan University's budget model review is underway, led by executive sponsors and a broad-based steering committee formed earlier this semester. Currently, the group is reviewing historical information and financial data and examining related university policies and practices, as well as budget models at other similar institutions.

Last December, the Board of Trustees voted to authorize the university to suspend the use of the responsibility center management budget model — a model that has been in place at CMU for more than two decades.  

The budget model will be designed throughout the spring semester and used in the creation of the FY 2022-23 operating budget.

The steering committee also is engaging the campus community through focused discussions with numerous campus stakeholder groups on the following topics: academics, research, administrative, operational and student support, and auxiliary functions.

"This is an important step so that the university can strategically and effectively allocate resources while reviewing and proposing necessary changes to the current budget model," said Nick Long, vice president for finance and administrative services and chief financial officer. "We look forward to engaging our campus community in this effort."

Listening and learning sessions:

• Monday, Nov. 22, at 1 p.m.
  
• Tuesday, Nov. 30, at 3:30 p.m.

Locations of these sessions will be announced soon via CMU Today and also will be posted to the budget model process website.