Budget Office

The Budget/Risk Management Office combines two complementary functions: We are responsible for developing and monitoring the budgets of the University, The College of Arts and Sciences, the Sawyer Business School and the Law School. At the same time, we work to identify and minimize financial and other losses for the University.

Setting Budgets

The Budget Office is responsible for the development of the annual budget, which will total more than $276M in fiscal 2010. Nearly half that budget consists of salaries and employee benefits, which we manage through a database of employee information that includes base salaries, budgeted hours, and other important data. The only exception to this is adjunct faculty, who are managed by the Deans of their respected schools.

To help set the budgets for the University, we work closely with the Enrollment Management Office to project enrollments and tuition revenue.  We also consult with the three academic deans, the dean of students and the Vice President of Advancement in the development and maintenance of their respective budgets.  

In addition to setting budgets, we also work closely with the schools to establish tuition rates for the coming year and with the dean of students to establish room and board rates. The Budget Office prepares three to five year budget forecasts and pro-forma calculations to determine the fiscal impacts of new initiatives.

Managing Risks

In our risk management function, we mange the University’s exposure to potential losses. That begins with the identification of the types of losses the University may face. Once identified, potential losses can be minimized through a combination of insurance, risk avoidance, and a variety of other tools including the effective management of any claims.  The Risk Manager is a member of the core Incident Command Team established to respond to emergencies.
 
The most common questions we’re asked are about 
• Property Damage / Theft
• Employee Use of Vehicles & Accident Reports
• Certificates of insurance
• Release of claims
• International Travel
• Study Abroad programs

We invite you to contact us regarding any questions about these and any other risk-related topics.