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Review Committee

Learn about the proposed budget process, strategic planning, and revenue generation to ensure financial stability and alignment with organizational goals. Includes hiring actions and budget allocation approvals.

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Review Committee

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  1. Review Committee November 7, 2018

  2. Agenda • Approval of Minutes • Hiring actions • Update on Middle States & Strategic Plan • Students, Majors, Revenue and Cost by Division– Kevin Foster • Proposed Budget Process • AOB

  3. Hiring Actions Since Last Plenary • Approved Search in BME (covered by recent vacancies) • Search for HR expert in GSP (funded by IDC) • New urgent hire in Admissions (covered by vacancy + $temp) • Replacement HEa in SSA to fill two advisors->Travia (covered by recent vacancies) • Two HEO positions in Computer Science (HEa, aHEO) funded by CUNY 2x Tech grant • Two HEO reclassifications, pending RC approval: • Jason Redman (Math) -> HEA (covered by vacancy $ in DoS) • Tamara Smalling (Diversity & Compliance) ->HEA (+ $4362)

  4. Proposed Budget Process • The Strategic Plan includes the College-wide OKR for revenue generation in FY19 as well as the longer-term plan for fiscal independence • Included in the Strategic Plan is a detailed budget process/model designed to align our finances with our strategic priorities • Step 0: Unit self-studies to establish adequate funding levels (for non-Academic units see e.g. FIT Task Force report) • Step 1: Annual 5-year budget projection • Revenue: Includes Tax-levy, IDC, philanthropy • Vacancies: Includes retirement, separation projections • Costs: Includes step increases & other known costs

  5. Proposed Budget Process (continued, part 2) • President, Provost, CFO develop year-to-year funding trajectories for each unit based on strategic priorities Sum of units’ funding = total College projection for each year $

  6. Proposed Budget Process (continued, part 3) • Each year CFO develops preliminary budget allocations, guided by funding trajectories • Provost, CFO meet with each campus unit to review proposed allocations • Review Committee approves budget allocations • 5 year budget projection is revised each year

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