Website introduces AIB, the University's new budget model
The University has launched a website to introduce Activity Informed Budgeting, a new budgeting model that will be implemented on July 1, 2022.
AIB will take the place of Responsibility Centered Management, the model that has been used for several years.
"I see AIB as a tool that will allow more people to understand our budgeting process, the budget model and the outcomes of decisions that are related to budget," said Lisa Rulney, senior vice president for business affairs and chief financial officer.
Development of the AIB model began more than a year ago and is led by project manager Garth Perry, vice president and chief budget officer.
The first step in the process was to draft guiding principles for AIB, which include: strengthening leadership and accountability; reducing complexity; and ensuring there are adequate funds centrally for institutional strategic opportunities. (See the complete list of principles on the AIB website.)
In addition to the guiding principles, the website includes:
- A visual aid that shows all of the University's revenue sources and the different ways money is allocated under the AIB model.
- Lists of the members of the AIB committees and working groups.
- Lists of the people serving on the college AIB working groups.
- A timeline of the presentations, meetings and discussions that have occurred over the past year.
- An FAQ.
Want to learn more about AIB? Check future issues of Lo Que Pasa, where you will find in-depth stories explaining the process in lay terms and examining the advantages AIB has over its predecessor.
In the meantime, visit the AIB website.