Virtual Forum will Discuss Budget Modernization Initiative

February 22, 2021 | Events, News, UToday
By Staff



Faculty and staff can learn more about the University’s budget modernization initiative in a virtual forum Thursday, Feb. 25.

Hosted by the budget modernization project’s steering committee of University stakeholders and Huron Consulting Group Inc., the forum will take place 10:30 to 11:30 a.m. via Webex.

There will be an informational presentation along with an opportunity for employees to submit questions. This initiative will impact the entire academic enterprise and will provide a data-driven approach to strategically manage the resources of the University.

The new budget management philosophy is among the key initiatives identified by Interim President Gregory Postel to increase efficiencies, address operational challenges and embrace innovative ideas to prepare UToledo for a successful future.

The new performance-based model will decentralize the budgeting process to empower colleges and units to manage their revenues and expenses in support of their goals aligned with the University’s mission.

The goal is to move from the existing incremental budgeting process to the new performance-based model in place for fiscal year 2023.

The forum is part of the project’s guiding principles to be transparent and collaborative with input from the campus. This also includes a retreat with the deans on Monday, March 22.

To learn more about the initiative, visit the budget modernization website.