Normally this work is done in the weeks between the end of the legislative session and the date for budget approval. Beginning the process earlier will give the university community more time to discuss priorities and give feedback on the decisions being made. Priorities of investments in student success initiatives and in faculty and staff compensation will drive these discussions according to the press release.
“By starting earlier in the school year, we hope to bring everyone into the discussion before the deadline pressure hits,” President Bob Frank said. “This method will allow for more collaboration, transparency and inclusiveness during the entire budget process.”
The Office of Planning, Budget and Analysis manages the process. In addition to providing detailed financial data, they work with the administrative and academic departments to ensure accurate planning and implementation of practices across all UNM campuses according to their website.
One challenge to planning this year’s budget is a small projected increase in the number of incoming freshmen over the next few years. However, the unpredictability in funding from the Legislative Lottery Scholarship could also affect enrollment numbers.
“We are looking at ways to allocate our resources to most efficiently and effectively meet objectives,” Provost Chaouki Abdallah said. “It will mean making sure the funding we have is used for the programs and projects that rise to the top in priority.”
The Legislative Finance Committee and the Department of Finance and Administration are projecting a two percent appropriation increase for higher education according to the press release. This means that UNM could receive a $4.6 million split between main campus and the Health Sciences Center.
One program which has effectively ensured the use of resources is Results Oriented Management. Last year, UNM reallocated $3 million through this strategy to help fund salary increases. In the coming year ROM will focus on ensuring that institutional goals drive budget allocations the press release said.
“We need to stress that this is a very preliminary estimate that could change with further adjustments in the funding formula and updates in revenue forecasts,” said Andrew Cullen, associate vice president for planning, budget and analysis.
The Budget Leadership Team and the Student Fee Review Board, two new necessary committees for identifying major priorities, are also ahead of schedule. This will allow administrators to make more informed budgetary decisions after the legislative session.
Marielle Dent is a freelance reporter for the Daily Lobo. She can be contacted at news@dailylobo.com or on Twitter @Marielle_Dent.
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