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Despite department chairs being responsible for many aspects of budgeting, faculty should play a role in the process. Unfortunately, most faculty are doing little or nothing in this regard. With a clear understanding of the budget, faculty can provide input about savings and other unexpected funds. This understanding can help your institution become more efficient and make better financial decisions.
Join our expert instructor online to learn how budgets are so much more than just a series of line items detailing income and expenses. You will gain a clear understanding of budgeting. Plus, you will leave knowing how you can contribute to your department’s budgeting processes and obtain resources for your department.
- How institutional budgets inform departmental budgets
- Understanding various budget models
- Budget decision principles
- Setting budget goals
- Criteria used to formulate a departmental budget
- Understanding departmental funding sources
- Tuition and fees
- Earmarked campus fees
- Grants and contracts
- Sources of funds
- Carryforward money from one fiscal year to the next
- Grant indirect return—personal travel, equipment, professional development
- Buy-out from teaching load
- Typical departmental expenses (discretionary vs. non-discretionary funding)
Who should attend?
This online training will help faculty understand basics of institutional and departmental budgeting in order to participate in the budgeting process, including working to secure funds for their departments.