Introduction This is the fourth annual Central Washington University budget report, and it represents the culmination of the annual budgeting effort by a community of CWU employees. The purpose of this report is to convey the results of operations of the year we just completed (FY2021), describe the key drivers and conditions that informed the upcoming budget (FY2022) and finally, review a complex topic that is relevant to the budgeting process at CWU. This year’s topic is called “what is a budget anyway?” and can be found in section 1. This report was purposefully written in plain language, with as few acronyms and finance jargon as possible, and the information provided is kept fairly consistent from year to year in an effort to build an understanding of key budget drivers and financial perspectives. The first annual budget report from FY2019 (found here) could be a good resource for more granular detail on how budgeting works at Central. This process of developing our annual budget takes about six months and would not be possible without assistance of the President’s Budget Advisory Committee (PBAC), the sub-committees of PBAC, the Academic & Student Life leadership team and of course the Business & Financial Affairs team.
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