We work with the campus academic and administrative units to guide the annual budgetary process, embrace efforts of process simplification, create an open budget environment, and develop innovative solutions.
Serving as stewards of institutional resources, the Institutional Planning and Budget Office is responsible for:
- Forecasting revenue and expense and providing analytical context for planning assumptions and budget policies.
- Allocating resources, monitoring their use, and reporting on results against plan.
- Modeling the impact of program, policy, and process changes.
The Office of Institutional Planning and Budget works with units across the campus to develop, report, and implement the University of Washington Bothell operating plan. Operational planning is dictated by institutional priorities, policies, and metrics related to the University’s core mission activities.
A key component of achieving a plan’s goal is effective communication between the finance team and central administration regarding financial and nonfinancial performance. In order to assess our financial viability and to strategically align our resources for sound decision making, the campus must establish key performance indicators that make sense within the context of the budget. One of our goals is that our selected data can be used to compare to peer institutions.
Financial analysis can measure success factors against institution-specific objectives and provide the campus with tools to improve its financial profile to carry out its mission. Four key financial questions to measure success include:
- Are resources sufficient and flexible enough to support the mission?
- Are resources, including debt, managed strategically to advance the mission?
- Does asset performance and management support the strategic direction?
- Do operating results indicate the campus is living within available resources?
UW Bothell will analyze the strategic ratios that help respond to these questions in assessing our financial health.
The Office of Institutional Planning and Budget participates in the following committees in order to have cross-unit collaboration when developing the budget for the campus.
- Provide policy advice and recommendations to the Chancellor on matters that pertain to UW Bothell budget planning and development process.
Chancellor’s Leadership Council
- The Chancellor’s Leadership Council (CLC) is an advisory body, with membership reflecting UW Bothell constituencies. The CLC advises the Chancellor on a wide range of key strategic matters.
Campus Council for Planning & Budgeting (CCPB)
- The inclusive nature of this committee (GFO, GSO, ASUWB, and Administration) is to encourage focused budget discussions, sharing of ideas/perspectives, reviews of budget proposals/processes/allocations/metrics, and provide specific planning advice and budget reports to the GFO Executive Committee.
Chancellor’s Advisory Committee for Students (CACS)
- An inclusive committee of undergraduate and graduate students, this group advises the chancellor on campus-wide budgets and major initiatives, including budget, tuition, enrollment management and campus planning.