2008 Woodie Awards
New budget model reflects credit demand
College, department funding to be more influenced by class hours
By: Brian McLean
Issue date: 11/30/07 Section: News
- Page 1 of 1
Starting next summer, each college's budget will be more proportionately defined by the amount of revenue it raises.
The change is the result of a recently revised budget model.
Barrie Wilkes, interim vice president of finance and administrative services, said the changed model will give out funding based on the number of credit hours each college brings to the university.
Though the original model took generated credit hours into account, he said, the revision will weigh credit hours more heavily and directly.
"It tries to reward units for bringing in more credit hours," he said.
A subcommittee of university officials, including Wilkes, developed the revisions.
The model was approved by University President Michael Rao at the University Budget Advisory Committee meeting Nov. 13. It will take effect July 1, at the start of the next fiscal year.
Wilkes said the revision was not exactly spurred by dwindling state appropriations, but rather came about because the current model could be improved.
He said the revision itself may not be noticeable to students, but the overarching result should be.
"The students aren't going to see the details of the budget, but the hope is that it will allow the academic centers to meet the needs of the students better than they would on a fixed budget," he said.
Michael Fields, dean of the College of Business Administration, predicted the revision will have a positive impact on both his college and CMU.
"The revenue is going to follow the students back to the college," he said.
The revised plan gives colleges long-term incentives to create new programs that would respond to student demand, he said.
CBA is planning new programs, Fields said, and the revised model will allow more program opportunities to respond to the student market.
"I think it's a positive event," he said.
Read Central Michigan Life next week for a full breakdown of changes between the original and revised budget models.
news@cm-life.com
The change is the result of a recently revised budget model.
Barrie Wilkes, interim vice president of finance and administrative services, said the changed model will give out funding based on the number of credit hours each college brings to the university.
Though the original model took generated credit hours into account, he said, the revision will weigh credit hours more heavily and directly.
"It tries to reward units for bringing in more credit hours," he said.
A subcommittee of university officials, including Wilkes, developed the revisions.
The model was approved by University President Michael Rao at the University Budget Advisory Committee meeting Nov. 13. It will take effect July 1, at the start of the next fiscal year.
Wilkes said the revision was not exactly spurred by dwindling state appropriations, but rather came about because the current model could be improved.
He said the revision itself may not be noticeable to students, but the overarching result should be.
"The students aren't going to see the details of the budget, but the hope is that it will allow the academic centers to meet the needs of the students better than they would on a fixed budget," he said.
Michael Fields, dean of the College of Business Administration, predicted the revision will have a positive impact on both his college and CMU.
"The revenue is going to follow the students back to the college," he said.
The revised plan gives colleges long-term incentives to create new programs that would respond to student demand, he said.
CBA is planning new programs, Fields said, and the revised model will allow more program opportunities to respond to the student market.
"I think it's a positive event," he said.
Read Central Michigan Life next week for a full breakdown of changes between the original and revised budget models.
news@cm-life.com
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