Budget Model Working Group
In August 2023, the Budget Model Working Group completed its mandate. The second phase of the project is being led by the Budget Design Committee.
About the review
In fall 2022, the Vice-President Academic and Provost and Vice-President Finance and Operations initiated a review of UVic’s current budget model to assess its effectiveness and look for enhancement opportunities.
While there is no single best budget model that works for all universities, campus culture, budget history and economic circumstances can influence the right budget model for the times. Our budget model should align with our values as a university, and it should work for us.
At UVic, we've used an incremental/historical budget model for decades—this model’s advantages and disadvantages are worth revisiting given how much has changed at the institutional, provincial and national levels. In a challenging fiscal and enrolment environment, we need to ensure that the budget model provides the right incentives and funds to support great ideas and areas of growth as we emerge from the pandemic and prepare to implement our new strategic plan. We also need to ensure that we protect our areas of excellence, including those that differentiate UVic from other universities.
Exploring and potentially implementing any changes to our existing budget model will take time and it’s important to start from a place of understanding, particularly as we think about what we value as an institution. A working group was tasked with consulting deans and other campus leaders on what’s working well with our current model and what’s not, and generate ideas for improvement. At the same time, the working group identified advantages and disadvantages of different budget models and researching models and lessons learned from other institutions, including ones that have transitioned from one model to another.
Mandate
At UVic, budget decisions are currently made at the unit level and up to senior university leaders through the Integrated Planning process. UVic’s President and Board of Governors approve UVic’s annual Planning and Budget Framework.
The working group was not responsible for choosing a new budget model but instead began the review process to help senior university leaders determine if any changes should be made to the existing model. The working group drafted a project plan, conducted research, facilitated internal and external consultations, shared information, drafted a set of principles and values. A summary of findings and recommendations was provided to and endorsed by Executive Council in summer 2023.
Members
- Andrew Coward, Associate Vice-President Finance and Operations
- Tony Eder, Associate Vice-President Academic Resource Planning
- Ashley Fitterer, Project Coordinator, VPAC
- Lindsay Gagel, Director, Academic Communications and Projects
- Helga Hallgrímsdóttir, Deputy Provost
- Kathleen Sobie, Director, Budget Office