Strategic Resource Allocation
FINANCIAL SERVICES
Strategic Resource Allocation
Strategic Resource Allocation
During the second quarter the budget staff has been busy developing a tool that can be used to help transition from a historic method of allocating resources to a more strategic method. Once the concept is finalized, the template can be used to help outline the business needs for each of our university's functional areas. The template will showcase departments' core services and link their missions to the university's strategic goals. It provides an opportunity to describe the business units from both a quantitative and qualitative perspective. Presently the template is being tested and evaluated by two administrative departments and will be adjusted to accommodate the feedback received. The revised model will then be distributed to key functional areas within the Administrative and Fiscal Services division and will be used to determine the FY13 budgets for each of these areas. Once this process is complete we will work towards developing a template that can then be evaluated by one of our academic units. It is felt that the academic templates would be implemented during the FY14 budget process. The next area we will be focusing on is evaluating the many sources of revenue streams in an effort to streamline revenue pools as much as possible. We hope to report on our findings in this area in our next quarterly newsletter.
