Re-Imagining the CMU Budget Model
Higher education has changed significantly over the past two decades. Institutions expanded programs and facilities with significant enrollment increases from the millennial generation and need to continue to adjust accordingly for smaller generations of students, now and in the future. Technological change, modalities of teaching and learning, geographic barriers to access, and non-traditional educational providers entering the education market are just a small sample of pressures facing higher education. Societal, student, and market needs are constantly changing, which requires higher education to be nimble moving forward.
The Steering Committee reviewed historical information, financial data, related universities policies and practices, budget models at other similar institutions, and engaged the campus community through working groups focused on the following areas: academics, research, administrative, operational and student support, and auxiliary functions. Throughout the last fiscal year, we reviewed options for revenue, expense, and cost allocation methodologies. In the spring of 2023, CMU designed the primary components of its new budget model and implemented phase I of the model with the creation of the FY 2023-2024 operating budget. Additional enhancements were discussed and approved during the 2023-2024 fiscal year and implemented as phase II at the start of the 2024-2025 fiscal year.
Budget model resources
5 Things to Know About CMU's NEW Hybrid Budget Model
Campus update
The start of the new fiscal year included minor changes to cost allocation pools in the hybrid budget model. Only minor changes on very specific topics will occur over the next few years. Those items include governance surrounding recharging for services, non-credit activity, and overarching governance regarding university fees.
Budget model information sessions
We will be holding information sessions to explain the minor changes made to the model over the past year and discuss additional resources that were developed. A recording will be posted after all sessions have been completed.
Dates, times, and the meeting links are below:
- Friday – 10/18/2024 – 2 p.m. – link: https://cmich.webex.com/meet/garri2jl
- Tuesday – 10/22/2024 – 1 p.m. – link: https://cmich.webex.com/meet/garri2jl
- Wednesday – 10/23/2024 – 2 p.m. – link: https://cmich.webex.com/meet/garri2jl
- Thursday – 10/24/2024 – 9 a.m. – link: https://cmich.webex.com/meet/garri2jl
Budget Model Overview Session - 2023-2024 Session
Executive sponsors
- Mary Hill, Chief Financial Officer – Vice President for Finance and Administrative Services*
Steering committee
- Ray Christie, Senior Vice Provost – Academic Administration*
- Jennifer Cotter, Vice President, University Advancement
- Mary Jane Flanagan, Chief of Staff to the President – Office of the President
- David Forsythe, Assistant Dean/Finance – College of Medicine
- Joe Garrison, Executive Director – Financial Planning and Budgets*^
- Paula Lancaster, Dean – College of Education and Human Services
- Chris Moberg, Dean – College of Business Administration
- Lori Olsen, Faculty/Department Chair – Management*
- Robert Roe, Executive Director – Academic Planning and Analysis
- Calvin Seelye II, Executive Director – Auxiliary Services
- Chris Tycner, Associate Dean – College of Science and Engineering
- Jonathan Webb, Associate Vice President – Facilities Management
^ denotes CMU internal project leader