Early Bird

Budget Recommendation Committee meeting recap

Members discuss potential options for updated structure and multi-year budget process.

By Lindsey Coulter

November 1, 2021

The Friday meeting of the Budget Recommendation Committee focused on the committee’s makeup and a proposed multiyear budget process to help ensure that resources are compatible with long-term fiscal strategy.

George Middlemist, Ph.D., associate vice president/chief financial officer, provided options to the BRC to begin considering how to optimize its current structure. Options included adding associate vice presidents to the BRC for increased support and creating an additional steering committee with senior leadership. Under the proposed changes, the BRC would continue to make recommendations to the Senior Leadership Team, President Janine Davidson, Ph.D., and ultimately the Board of Trustees.

Phasing in a longer-term budget process was also a key discussion topic. A proposed timeline included considering a three-year term (with room for changes throughout) as opposed to a one-year term that requires faster and more frequent budgetary decisions. Outlined benefits of a longer-term, multiyear budgeting process include improved alignment with strategic planning and revenue forecasting and enhanced ability to anticipate challenges.

Middlemist shared a proposed budget-process timeline for fiscal 2022-23, with Phase I budget finalization next April, and emphasized his role as a conduit between both groups.

Middlemist explained that his role in this proposed structure would be to communicate the decisions of the senior leaders but also to express the desires, wishes and needs of the BRC in an eloquent and meaningful way.

“There’s always a chance that when (the BRC) makes recommendations to the president, those recommendations may change,” he said. “When we (last) put forward our recommendations to President Davidson in April and again in August, there were lots of questions and conversations, but ultimately this group does a great job of vetting what we want to do and why we want to do it. We haven’t seen a lot of changes in terms of decision-making.”

Middlemist noted that the impetus for the proposed structural changes was a particularly complex budget process this year, with multiple surprises and priorities.

“I live for the BRC,” he said. “This is a process we built almost 10 years ago and one that I am really proud of. It’s a process that has allowed us to make hard decisions collectively, and we’ve continued to move the institution forward.”

Upon further discussion, members reiterated the need for transparency in any budget meetings. Middlemist pledged to provide feedback to Davidson and senior leaders. The BRC will discuss next steps and detailed one-time and Higher Education Emergency Relief Fund funding at its November meeting, with a budget-approval announcement expected soon.