Rationale for Changes
The new budget model for USF further capitalizes on efforts to advance OneUSF strategic priorities and elevate national rankings, increase transparency and accountability around sources and uses of funding, and promote long-term fiscal sustainability. Key rationale for a new budget model is further outlined below.
- Promote a Coordinated OneUSF Approach to Budgeting and Resource Management - An incentive-based, enterprise-wide funding model provides clear rewards for units who advance activities aligned with the strategic priorities and mission of USF. Aligning the funding model to these strategic goals empowers units to coalesce around a OneUSF direction.
- Increase Transparency and Predictability of Funding Levels - Using data to inform funding levels enables colleges to predict and plan for changes in funding as their activities and metrics change. Goal setting and growth planning is built into the budgeting process, giving colleges a multi-year view for planning.
- Maximize USF Resource Envelope to Advance Strategic Priorities - An incentive-based, enterprise-wide model enhances USF’s ability to leverage the totality of resources available to the institution and promotes more effective pursuit of USF priorities.
- Ensure Long-Term Fiscal Sustainability - The new budget model rewards growth and incentivizes efficiencies while providing flexibility for leadership to invest in long term priorities.
- Align to Industry Best Practices - Many leading universities have transitioned to RCM style models to bring financial flexibility to the institution and encourage entrepreneurialism among units.