Central Washington University Board of Trustees July 21, 2023 EXECUTIVE SUMMARY – Values Based Budgeting
In response to the university’s new vision, mission, values, and related strategic plan the resource allocation model related to the core instructional fund groups is changing. The current Values Based Budget model is being modified in the following ways: Instructional funding – The current process of estimating instructional needs based on total student credit hours and instructional expectations is not changing, but the process to centralize funding for vacated tenured/tenure track positions until when/if that position is re-filled is new. Staff funding – We are eliminating the concept of incremental budgeting for staff positions. Instead, we will create annual budgets based on the staff employed as of the year's end. As vacancies occur, we will centralize the funding of those positions and restore it when/if re-filled. A process will be created to re- evaluate each position as it is vacated with the potential to migrate funding in support of our new vision, mission, and strategic plan. Goods & Services – Since salary and benefit savings are going to be centralized, departments will no longer have access to funding that has been historically used to fund goods and services (and the related impact of inflation). Goods and Services budgets will need to be re-considered, including identifying waste and redundancy to support the needs of the vision, mission, and strategic plan.
Submitted:
Approved for Submittal to the Board:
Joel Klucking
Jim Wohlpart
Vice President, Finance & Administration
President
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