Budget Model Review Timeline
Below is a description of the Budget Model Review phases and corresponding timeline.
Phase I: Assessment and Visioning
January 2025
- Foster a shared understanding of higher education budget models.
- Document the current state through funds flow analysis and stakeholder input.
- Begin developing recommendations for future state model aligned with strategic goals.
Phase II: Visioning and Financial Modeling
February-April, 2025
- Finalize recommendations for future state model.
- Develop a baseline budget model with input from academic, administrative, and financial leadership.
- Refine and customize the model.
Phase III: Engagement and Implementation Planning
April-May, 2025
- Begin socialization of the revised model with campus stakeholders.
- Establish implementation roadmap, including training development and timelines.
Phase IV: Run Updated Model During Shadow Year
June 2025-June 2026
Full Model Implementation
June 2026