Inside Iowa State

October 21, 2005

Budget model forum is Nov. 1

by Anne Krapfl

As part of the process to develop a new budget model for Iowa State, the university community is invited to participate in an open forum from 3 to 4 p.m. Tuesday, Nov. 1, in the Memorial Union Gold Room.

The Budget Model Development Committee, charged last month by President Gregory Geoffroy with creating a new budget model, has completed an initial study and issued its first report. The report includes a preliminary list of objectives for the new budget model and presents issues and questions about allocating revenues and distributing expenses. The 5-page report is online at http://www.iastate.edu/~budgetmodel/05/octreport.shtml.

The forum is part of a larger input-gathering effort this month and next to help the committee refine the objectives and enure it has identified the key issues and questions.

"We need a more flexible and responsive budget model, one that is easy to understand, has a clear relationship between cause and effect, and makes the budgeting process more predictable," Geoffroy said. "I've asked the committee to develop a budget process for Iowa State that provides incentives to budget units and encourages alignment with the university's priorities and strategic plan -- and to do that in a very open, inclusive process that gives plenty of opportunity for input."

The goal is to create and test a new budget model by July 1, 2006, and use next fiscal year to prepare for full implementation by July 1, 2007.

Comments on the report also may be submitted electronically to budgetmodel@iastate.edu.

Tuesday, Nov. 1, 3-4 p.m., Gold Room, Memorial Union