The Budget Model Redesign Steering Committee, comprised of representation from the Bloomington Faculty Council, IUB deans, and fiscal officers from IUB academic units, guided the development of the IUB budget model framework and design of the conceptual model. The Steering Committee is now presenting the model to campus constituencies and collecting feedback, questions, and ideas.
Guiding Principles
The iterative design process was guided by a set of principles developed by the Steering Committee. The final model should be transparent, equitable, and understandable to campus constituencies. It should provide units with flexibility, stability, and predictability they need to plan, innovate, and thrive. It should encourage collaboration across units while fostering excellence in teaching, research, and service across all schools and disciplines as well as allow for meaningful investments in common good priorities.
Broad Recommendations
Please see the IUB Budget Redesign webpages for detailed information on the proposed IUB Budget Model.
Expense Distribution
While not finalized yet, the committee recommends using a metrics-based methodology that would provide units with more control and the ability to plan for their future. These metrics might include Faculty FTE, Staff FTE, Student Headcount or Credit Hours, Square Footage, Direct Expenses, or others. The Steering Committee will continue to review approaches for allocating central campus expenses across units as they hear from campus constituencies.
Accountability and Oversight
Additionally, the Steering Committee recommends that an IUB Financial Advisory Council be established, with representation from the Bloomington Faculty Council, campus academic and financial leadership, as well as other key stakeholder groups. The Advisory Council would provide ongoing review and feedback on the budget model and ensure transparency and accountability in the implementation of the new model. The Council will report to the IUB Provost and Chancellor.
The Timeline
For details on IUB’s progress, visit the IUB Budget Redesign Timeline page.