What are Budget Modifications?
UF’s comprehensive evaluation of its budget model and process identified seven near-term modifications to enhance how the university allocates resources to units, missions, and strategic priorities. A shared governance committee named the Budget Enhancement Enactment Committee provided oversight for sub-committees charged with recommending designs for each of the seven modifications. None of the seven modifications directly impact University revenues or expenses in aggregate, but rather represent a change in methodology to increase transparency and understanding of UF’s budget.
|Modification||Reason for Modification|
|I. Create an all-funds model||The creation of an all-funds model allows the university to view standardized unit-level operating results, encapsulates all resources, illuminates allocations, elevates financial acumen, and ultimately informs optimal deployment.|
|II. Eliminate step-down costing||The elimination of cross-charges (step-down costing) between units who intentionally operate in a deficit reduces administrative burden and model complexity.|
|III. Build deferred maintenance strategy||The establishment of a university-wide approach to address deferred maintenance needs enables UF to mitigate operational, reputational, and financial risk more effectively in the long term.|
|IV. Review uses of state appropriations||The incorporation of an incentive-based element to state funding distributions further aligns UF to industry best practice while providing another lever to drive behavior toward priorities.|
|V. Clarify overhead assessments||The modified structure to assess university operating overhead to units enhances transparency into central costs and enable leaders to holistically evaluate unit performance.|
|VI. Strategic Funding Transparency||Increased transparency around strategic funding uses and the establishment of accountability mechanisms helps foster trust that resources are directed toward the highest and best use.|
|VII. Retool major capital governance||The adherence to a standard process, criteria, and the involvement of subject matter experts for major capital projects support equitable, data-driven evaluation of proposals and ensures long term risks are considered.|
Budget Enhancement Enactment Committee Membership
The Budget Enhancement Enactment Committee (BEEC), a shared governance committee with stakeholders from across campus, spearheaded the implementation of the modified university budget model. The Budget Enhancement Enactment Committee (BEEC) is comprised of representatives from across campus as well as University leadership.
|Saby Mitra (co-chair)||Business Administration||Deans|
|Chris Cowen (co-chair)||Office of the CFO||Executive Leadership|
|Dave Richardson||Liberal Arts & Sciences||Deans|
|Dana Zimmel||Vet Medicine||Deans|
|Joe Glover||Academic Affairs||Executive Leadership|
|Kelly Sharp||UF Health / Pharmacy||College Business Officers|
|Scott Sumner||Medicine||College Business Officers|
|Tracey Phillips||Health & Human Performance||College Business Officers|
|Elias Eldayrie||Information Technology||Central Administration|
|George Kolb||Budget Office||Budget Office|
|Julie Wang||Budget Office||Budget Office|