Despite department chairs being responsible for many aspects of budgeting, faculty should play a role in the process. Unfortunately, most faculty are doing little or nothing in this regard. With a clear understanding of the budget, faculty can provide input about savings and other unexpected funds. This understanding can help your institution become more efficient and make better financial decisions.
Join our expert instructor online to learn how budgets are so much more than just a series of line items detailing income and expenses. You will gain a clear understanding of budgeting. Plus, you will leave knowing how you can contribute to your department’s budgeting processes and obtain resources for your department.
Who should attend?
This online training will help faculty understand basics of institutional and departmental budgeting in order to participate in the budgeting process, including working to secure funds for their departments.
Agenda
How institutional budgets inform departmental budgets
Understanding various budget models
Budget decision principles
Setting budget goals
Criteria used to formulate a departmental budget
Understanding departmental funding sources
Tuition and fees
Earmarked campus fees
Grants and contracts
Fundraising/Donations
Sources of funds
Carryforward money from one fiscal year to the next
Grant indirect return—personal travel, equipment, professional development
Buy-out from teaching load
Typical departmental expenses (discretionary vs. non-discretionary funding)
