Budget Transformation

We’ve reviewed Accenture’s recommendations, and we’re implementing a new budget process to support the University’s strategic framework. Our new collaborative, data-driven, phased approach streamlines decisions, strengthens governance, and modernizes workflows to create a more strategic budgeting process. 

Why our process needed to transform:

• A Changing Financial Model: Traditional revenue sources—particularly tuition and research funding—are becoming less predictable, requiring a more adaptable and forward-looking approach.
• Structural Cost Pressures: Compensation, benefits, and operating costs continue to grow faster than revenues, making it critical to improve financial discipline and resource allocation.
• More Strategic Decision-Making: The current process is fragmented and time-intensive, limiting the University’s ability to evaluate tradeoffs and act quickly on emerging priorities.
• Greater Transparency and Accountability: Stakeholders need clearer visibility into assumptions, drivers, and outcomes to build trust and support informed decisions.

What we gain:

• Integrated, All-Funds Planning: A unified budgeting approach across academic, administrative, and capital resources provides a complete view of institutional priorities and tradeoffs.
• Long-Range Planning Capability: Multiyear financial modeling enables proactive decisions, scenario planning, and alignment with strategic goals.
• Faster, More Disciplined Decision-Making: Streamlined governance and defined roles ensure that resources are allocated based on institutional priorities—not silos or timing.
• Data-Driven Insights and Monitoring: Standardized dashboards and reporting improve visibility into performance, risks, and opportunities throughout the year.
• Stronger Financial Sustainability: Aligning resources with strategy ensures continued investment in academic excellence, research growth, and student experience.

What will be different:

• One coordinated budget process instead of multiple disconnected cycles
• Clear governance and accountability for decisions and tradeoffs
• Consistent tools, templates, and timelines across all units
• Technology-enabled planning and forecasting to reduce manual work and improve accuracy
• Ongoing monitoring and course correction, not just annual budgeting

The budget transformation project focuses on general budget process, not specific funding decisions. Funding priorities, budget policies, and unit-specific operations and policies are not part of this transformation.

This is one phase in a multiyear transformation effort. We plan to implement this streamlined budget process by fall 2026, and build upon our progress for fall 2027. We will share specific information with unit leaders and budget administrators as this project moves forward.  

Please check back for periodic updates. 

Calendar Year 2026 Milestones