The fiscal year 2018-2019 budget carefully balances the most important needs of AU's constituents with sound financial management, and maintains momentum for the strategic priorities of the institution.
The University Budget Committee was convened in a 2016 memorandum from President Neil Kerwin and is charged with developing budget proposals for the next cycle of resource allocation. Provost Scott Bass and CFO, Vice President and Treasurer Doug Kudravetz conducted the initial meeting of the committee in September 2016.
The work of the University Budget Committee has several important aspects and deadlines. It is charged with development of budget formulation criteria for the president’s review and approval prior to his submission of them to the Board of Trustees at the yearly November meeting. The proposed criteria must be submitted to the president no later than the beginning of November. Following the actions of the board on the formulation criteria, the committee will develop detailed budget proposals for the president’s review and approval and then consideration by the board at the following year's March meeting. The tentative deadline to submit the proposed two-year budget to the president is February of that year.
As in the past, the new budget that the committee will propose will be guided by the university’s strategic plan. At the September meeting of the board, the president provides a report to the trustees on progress to to date on the objectives set for the next two years under the plan. Shortly thereafter, the community will engage in a university-wide process to define our objectives under the plan for the next two years. Careful coordination is needed to ensure that the committee has the guidance it needs to establish both formulation criteria and detailed budgets that are fully informed by the strategic plan. The president's September meeting with the committee includes discussion about how this can be best accomplished. The president will also remind the broader community that it is imperative they participate actively in this next phase of planning to assist in the development of a responsive and responsible budget for the university.
As is AU’s practice, wide consultation and the free flow of pertinent information characterizes the work of the committee. The committee will collect information on priorities and requirements from all campus constituencies using various forms of outreach, including town hall meetings. The university’s performance is examined, measured, and documented in a variety of ways. The results of these analyses are available for the committee’s review. Comparative information from peer and competitor institutions is also part of the deliberations.
The University Budget for Fiscal Years 2019 and 2019 and the most recent Annual Reports are available on the Office of Finance website.