Dear UNL Community:
I wanted to provide you with an update on our efforts to a new incentive-based budget model. As I mentioned in my September 19 message to campus, the new model has been finalized by our campus leadership. This is a significant milestone and is the result of tremendous work by the Responsibility Center Management Steering Committee.
I am confident the incentives laid out in our model will allow us to have our budgets mirror the university’s strategic priorities and will position UNL for sustained success. We are now poised to move to the next phase of the process.
As you already know, we are shadowing the model with the current fiscal year and have a goal of full implementation beginning July 1, 2020. While much has been accomplished, there is still much to do.
Over the next several months we will:
- Continue to test and refine the university’s new model;
- Begin vetting and constructing new budget governance structures;
- Engage with service and support units to help create a better understanding of the incentive-based model and how it may impact their budgeting and operational processes;
- Provide additional tools and training opportunities to further understand the budget model;
- Establish guiding tenets on the use of subvention and strategic investment pools; and,
- Consider future opportunities to continue the two-way dialogue with the campus community about the process.
I have charged the Vice Chancellors and Steering Team to provide leadership and guidance during this next phase in the process.
I would like to thank the Steering Committee who for the past six months has worked hard to develop a model that supports and utilizes our institutional context, industry best practices, and stakeholder feedback. I would also like to thank each of our Deans and their respective business managers who have been instrumental in critiquing model methodology in order to ensure the development of a sustainable model for our campus.
There is a great deal of information available about our transition to the new incentive-based budget model. I encourage each of you to stay connected and informed about the progress of this university initiative by visiting our budget website.
Again, thank you for your ongoing participation and attention in what I believe is one of the highest short-term priorities for the university.
Sincerely,