Given our corporate structure, the financial success of any one university relies upon the financial success of all others. As a result, universities are, in effect, co-investors in one another. Accordingly, we are seeking to put in place a means by which university leadership can have input into the strategies and budgets that each proposes, and in light of that review:
- advise the Chancellor’s office with respect of academic program approval and
- advise the Board of Governors about how it allocates state appropriated E&G and capital dollars, and how (at what level) it sets tuition.
To achieve this level of transparency and input into decision making, it is vital that universities align their strategy planning and budgeting practices – work that is just being launched now.