effective strategic budgeting in higher...
TRANSCRIPT
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R A L P H C . W I L C O X , P h . D .P R O V O S T & S E N I O R V I C E P R E S I D E N T
U N I V E R S I T Y O F S O U T H F L O R I D A
M A R C H 6 , 2 0 0 9
Effective Strategic BudgetingIn Higher Education
Council of Colleges of Arts & Sciences
Fiscal Management Seminar
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Purpose & Plan
A glimpse of USF and the State University System of Florida
Higher education and the economic landscape
Budget planning vs. budget management
Strategic budget planning: principles and processes
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USF Mission
As Florida's leading metropolitan research university, USF is dedicated to excellence in:
Student access and success in an engaged, and interdisciplinary, learner-centered environment,
Research and scientific discovery, including the generation, dissemination, and translation of new knowledge across disciplines; to strengthen the economy; to promote civic culture and the arts; and to design and build sustainable, healthy communities, and
Embracing innovation, and supporting scholarly and artistic engagement to build a community of learners together with significant and sustainable university-community partnerships and collaborations.
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USF Vision
The University of South Florida envisions itself as a premier research university with state, national, and global impact, and positioned for membership in the Association of American Universities (AAU).
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USF Values
Excellence in teaching and learning; scholarship and research (both basic and applied/translational); together with community engagement and public service based on the highest standards of discovery, creativity and intellectual attainment,
Outstanding research and scientific discovery, including the application of new knowledge to solve state, national and global problems,
Recruitment and retention of world-class faculty and high potential undergraduate and graduate students,
Access to a world-class, globally relevant and affordable education, including utilization of alternative modes of delivery,
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USF Values
Student competitiveness, success and academic achievement through knowledge, communication and critical thinking skill acquisition,
Cultural and ethnic diversity and inclusion along with an enhanced global experience, understanding, and appreciation,
Integrated, interdisciplinary inquiry and collaboration across departmental, college and campus boundaries,
Facilitating the optimal development of personal and professional potential of students, faculty, and staff, and enriching the quality of an engaged campus community,
Shared governance structures that empower all USF stakeholders, campuses and entities to reach their full potential,
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USF Values
The creation and support of a premier university system that adds value to the region, state and nation while ensuring necessary levels of autonomy and preserving the distinctive regional and strategic identities of all member campuses and entities,
An environment of collegiality based on the principles of academic freedom, respect, integrity, civility, the freedom to engage in debate, the exchange of ideas and intellectual discovery, and professional responsibility,
Mutually beneficial partnerships and community engagement that increase the understanding of, and present solutions to, local and global challenges, with a mind to strengthening the economy and building sustainable healthy communities,
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USF Values
An entrepreneurial spirit and innovation with a focus on defining, informing and generating “next best practices”,
The utility of proven and emerging technologies to enhance instruction, learning, research and engagement, and to improve service quality and efficiencies in institutional business practices,
Focus and discipline in aligning the budget and fiscal resources with institutional priorities and action, and
Transparent accountability along with timely and effective communication.
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USF Goals
Expanding world-class interdisciplinary research, creative, and scholarly endeavors.
Promoting globally competitive undergraduate, graduate, and professional programs.
Expanding local and global engagement initiatives.
Enhancing all sources of revenue, and maximizing effectiveness in business practices and financial management.
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USF Strategic Priorities
Community Engagement
Global Literacy & Impact
Integrated, Interdisciplinary Inquiry
Research & Innovation
Student Success
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University of South Florida
One of only three Florida public universities classified in the top tier of research universities
One of 10 public research universities nationally rated both very high research activity and Community Engaged
Source: Carnegie Foundation for the Advancement of Teaching
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University of South Florida
46,174 students at institutions/ campuses in Tampa, St. Petersburg, Sarasota-Manatee, and Lakeland
219 degree programs at the undergraduate, graduate, specialists, and doctoral levels, including doctor of medicine
Employees: 13,207 total (07-08)
7,800 full-time, 5,398 part time
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University of South Florida
$1.8 billion annual budget *
$272 million total research expenditures ***
$158 million federal research expenditures ***
$360 million endowment **
$289 million financial aid awarded **
* 2008-09 ** 2007-08 *** 2006-07
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USF System
-3.6% ($12,332,418)
-1.9% ($6,621,807)
-5.5% ($18,954,225)
-5.8% ($19,016,906)
-4.0% ($13,835,853)
-9.8% ($32,852,759)
-15.3% ($51,806,984)
SUS
-3.6% ($82,895,158)
-1.9% ($48,679,459)
-5.5% ($131,574,617)
-5.9% ($127,739,313)
-4.0% ($93,530,561)
-9.9% ($221,269,874)
-15.4% ($352,844,491)
20
07-
20
08
Fall 2007
Spring 2008
Total 2007-2008
20
08
-2
00
9
July 1, 2009
January 2009
Total 2008-2009
Total: July 1, 2007 – Present
Note: E&G budget only
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All Source Budgeting at USF
State Appropriations
Federal Appropriations
Tuition
Fees
Financial Aid
Private Giving
Auxiliaries
Research – Direct
Research – Indirect
Patents & Licensing
Debt Capacity
Other
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Purpose
To align USF’s budget with institutional strategic priorities through effectively communicating and engaging all stakeholders in a transparent, focused, and disciplined manner with a mind to preserving excellence; containing costs; leveraging efficiencies; generating new revenue; and maximizing performance.
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Budget Planning Advisory Committee
Executive Budget Planning Advisory Council
President’s Cabinet
Board of Trustees
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Guiding Principles for Budget Reductions at USF
Prioritize cuts so as to maintain progress toward USF’s strategic goals.
Strengthen the institution’s commitment to student learning, to ensure that those students currently enrolled progress toward graduation.
Protect, as high priority, the faculty’s research and innovation activities to serve regional, state, national and global constituents.
Secure the financial integrity of the institution.
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Guiding Principles for Budget Reductions at USF
In contrast to across-the-board cuts, implement targeted reductions in accordance with USF’s Strategic Plan 2007-2012
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Guiding Principles for Budget Reductions at USF
Critically evaluate existing operations based on:
Centrality to USF’s Strategic Plan
Excellence and impact of unit/institutional performance
Demand by constituent stakeholders
Future viability and sustainability of continuing the unit and/or program
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Guiding Principles for Budget Reductions at USF
Identify (a) cost savings, and /or (b) new revenues, through unit and/or program:
Restructuring and consolidation, including the promotion of more streamlined and integrated services, and interdisciplinary collaborations
Redirection
Reduction
Elimination
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Guiding Principles for Budget Reductions at USF
Maximize efficiency and effectiveness in institutional practices:
Discontinue non-essential services and freeze non-essential expenditures
Reductions in one area must not increase service obligations in another.
Clearly articulate measurable impacts of projected reductions.
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Planning Performance & Accountability MatrixThe Dashboard: www.ods.usf.edu/Plans/PPA/dashboard.htm
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Planning Performance & Accountability MatrixA Living Document
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Planning Performance & Accountability MatrixA Living Document
EXAMPLE
Primary Performance Indicator:1.A.I.1. Federal R&D Expenditures
Type of Measure: AAU, NSF, TARU
Data Source: NSF Expenditure Survey
Responsible Vice President: SVP Academic Affairs, VP Health, VP Research
USF Performance
04-05
USF Performance
05-06
USF Performance
06-07
GOAL07-08
USF Performance
07-08
GOAL08-09
USF Performance
08-09
GOAL09-10
GOAL10-11
GOAL11-12
$143 m $154 m $158 m $156 m $160 m (e) $170 m $170 m (e) $183 m $198 m $211 m
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Planning Performance & Accountability MatrixA Living Document: www.ods.usf.edu/Plans/PPA/matrix.htm
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Planning Performance & Accountability MatrixA Living Document: www.ods.usf.edu/Plans/PPA/matrix.htm
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Planning Performance & Accountability MatrixA Living Document: www.ods.usf.edu/Plans/PPA/matrix.htm
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Planning Performance & Accountability MatrixA Living Document: www.ods.usf.edu/Plans/PPA/matrix.htm
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Planning Performance & Accountability MatrixA Living Document: www.ods.usf.edu/Plans/PPA/matrix.htm
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Planning Performance & Accountability MatrixA Living Document: www.ods.usf.edu/Plans/PPA/matrix.htm
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Planning Performance & Accountability MatrixA Living Document: www.ods.usf.edu/Plans/PPA/matrix.htm
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Planning Performance & Accountability MatrixA Living Document
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Strategic Business Plan
Strategic Plan + PPA = Strategic Business Plan
Multi-year budget planning directly related to specific outcomes outlined in strategic plan
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Strategic Plan Budget Assumptions
Need
Strategy
Assumption
Cost
Source(s)
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Strategic Plan Budget Assumptions: Example
$24 m (recurring) in New Faculty Salaries & Benefits
Need – increase the following:Research expenditures
Scholarly productivity
National Academy members
NRC faculty quality rating
Faculty Arts & Humanities fellowships
Patents and start-ups
Community-based research
Access, selectivity, progress, and success
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Strategic Plan Budget Assumptions: Example
$24 m (recurring) in New Faculty Salaries & Benefits
Strategy – Hire 200 new faculty over five years
Each year USF plans to hire 40 faculty as follows:
15 Professors (12 STEM, 3 Arts/Humanities/Social Sciences)
15 Associate Professors (12 STEM, 3 Arts/Humanities/Social Sciences)
10 Assistant Professors (6 STEM, 4 Arts/Humanities/Social Sciences)
40 new hires/year X five years = 200 new faculty
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Strategic Plan Budget Assumptions: Example
$24 m (recurring) in New Faculty Salaries & Benefits
Assumption – new faculty will contribute to direct research expenditures
STEM Professor: $250,000 annually
STEM Associate Professor: $200,000 annually
STEM Assistant Professor: $150,000 annually
$83.7 m direct research expenditures in 5 years
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Strategic Plan Budget Assumptions: Example
$24 m (recurring) in New Faculty Salaries & Benefits
Cost – 9-month salaries + 30% benefits
Professor: $105,000 STEM, $90,000 Arts/Humanities/Social Sciences
Associate Professor: $90,000 STEM, $75,000 Arts/Humanities/Social Sciences
Assistant Professor: $75,000 STEM, $55,000 Arts/Humanities/Social Sciences
$24 m ($4.8 m in new recurring annually) in new faculty salaries and benefits in 5 years
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Strategic Plan Budget Assumptions: Example
$24 m (recurring) in New Faculty Salaries & Benefits
Source(s) – E&G/Tuition & Endowment
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Engaging Colleges & Departments in Aligning Budget Planning & Strategic Performance
Keys to Success:
Communication (clarity & transparency)
Multilateral Engagement
Collaboration
Peer Assessment
Discipline & Focus
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Engaging Colleges & Departments in Aligning Budget Planning & Strategic Performance
Guided by the Principles of:
Quality
Centrality
Demand
Viability & Sustainability
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Multi-Year Faculty Hiring Plans
Two Phases:
Allocation of positions based upon student enrollment demand (access and success), and the probability of high quality strategic performance outcomes conducted by departments
Pursuit of “cluster” hiring, across departments and colleges, focused around selected interdisciplinary research and scholarly “thrusts”
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Compact Planningwww.ods.usf.edu/Plans/Compact
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Compact Planningwww.ods.usf.edu/Plans/Compact
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Compact Planning: Unit Information
Unit Information:HistoryResourcesKey ProgramsPeers
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Compact Planning: Unit Information
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Compact Planning
Budget
Staffing
Enrollment
Degrees Awarded
Contracts & Grants
Unit Resources:
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Compact Planning: Unit Resources
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Compact Planning: Unit Resources
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Compact Planning: Unit Resources
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Compact Planning: Unit Resources
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Compact Planning: Unit Information
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Compact Planning: Unit Information
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Compact Planning: Unit Information
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Compact Planning: Initiatives
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Compact Planning: Initiatives
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Compact Planning: Initiatives
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Compact Planning: Initiatives
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Compact Planning: Initiatives
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Keys to Effective Strategic Budgeting
The Strategic Plan
Clarity of Guidelines
Consistency of Practice
Engagement and Transparency
Data-based Performance Accountability
Discipline & Focus