IU Regional Campuses currently use a budget model that is centralized at the campus level. Each campus operates as a single RC (Responsibility Center), with resources allocated to Academic and Support Units (RCs within the campus).
Four allocation parameters are used to allocate Support Unit costs, namely: student and faculty full time equivalent (FTE), student credit hours, total expense, and square feet. Campus stakeholders provide input and advice to campus leadership on various budget matters. These stakeholders include campus executive cabinet members, faculty governance, budget or resource allocation councils and committees, staff, student government, and others.
The budget redesign process is a multi-year effort to produce a more transparent and efficient budget model that decreases unnecessary internal transfers, aligns resources with strategic priorities, and incentivizes growth and innovation. Participation from each campus, along with IU leadership, will aid in the refinement of the budget model.
The regional campus process will focus on the following aspects, among others:
- Campus Budget Authority
- Revenue Allocation Methodology
- Expense Budget Allocations
- Campus Assessments
- Incentives and Use of Cash
- Management of Surplus
- Management of Deficits
Regional campuses are taking a consistent approach to redesigning their budget models with central support through Office of the Vice President for Regional Campuses and Online Education (VPRCOE) and in coordination with campus Chancellors and Vice Chancellors for Finance. The refined models will be aligned with IU 2030 goals and campus strategic priorities.
Questions or feedback? Visit the Contact page to find contacts for VPRCOE and your campus.