Steering Committee Summer Update: Budget Model Redesign Phase 3

Updates by the Steering Committee will be posted online only during CSU’s summer session. Previous and future reports to the CSU community are available online at Budget Model Redesign Updates.

May 24, 2024

The Steering Committee will be meeting regularly through the summer in preparation for the eventual transition into Phase 4: Shadow Budget Prep. This is a slight extension of Phase 3 of the Budget Model Redesign Initiative based on the projected timeline that was announced when the initiative was launched last summer.

May 9 Meeting: Steering Committee Updates

  • College of Business Dean Beth Walker provided an overview of how data can be used to inform and advance strategic financial and programmatic decision-making at the college level.
  • The Steering Committee discussed how to define, measure, acknowledge, and encourage sustainable growth in CSU’s budget modeling; discussions also centered on opportunities and tradeoffs for potential academic unit metrics and a focus on inclusion.
  • The Steering Committee discussed the possibility of having work groups that focus on the following topic areas: Administrative Unit Allocations, Implementation Planning: Strategic Acumen, and Implementation Planning: Financial Acumen.
  • The committee elected to focus on Academic Unit allocations first and will reconvene on that topic once data and parameters are provided by the Technical and Executive Sponsor Committees, respectively.

The next meeting of the Steering Committee is scheduled for Thursday, May 30.

Thank you for your engagement throughout the first three phases of the initiative. We encourage you to stay engaged with this process and provide your feedback or ask questions by emailing us at [email protected] or through the Budget Model Redesign online feedback form.

Sincerely,

Steering Committee
CSU Budget Model Redesign Initiative

About CSU’s Budget Conversation Series

Colorado State University is inviting all faculty, staff, and students to engage in two different yet simultaneous series of campus conversations and listening sessions around the institution’s budget. The first series of conversations focuses on the University’s current budget for FY23-24 and FY24-25, referred to as the operating or Incremental Budget.

The second series of conversations focuses on options for renewing our budget model for an innovative future in alignment with our land-grant mission and institutional priorities. The goal is to design a budget model that enables greater creativity and increased agility while improving fiscal responsibility and transparency in our financial decision-making processes. This is what is referred to as the Budget Model Redesign.