The budget process is currently being developed. Please note that the timeline is subject
to change.
Date |
Action |
| 09/2009 |
The board of trustees charges President Lord with submitting a balanced budget for the fiscal year beginning July 2010—a budget where expenses do not exceed revenues. |
| 11/30/2009 |
President Lord completes his review of the current budget, operating expenses, the Naropa budget process and how decisions have been made in previous years. |
12/07/2009 |
President Lord announces the budget initiative to the Naropa community including the need to reduce the budget by approximately $1.2 million.
The website for communication and reporting is developed and the president’s communication is posted to the website.
Members of the University Budget Committee (UBC) are appointed by President Lord and budget initiative leaders. |
12/08/2009 |
The budget initiative leaders and senior staff work together to establish the timeline for submission of FY 2011 budgets. |
12/09/2009 |
The timeline created in the 12/08 meeting is posted to the communications
website. |
12/11/2009 |
A template is created for the submission of FY 2011 budgets. This template will provide department heads with a tool for summarizing and comparing the operational impacts of different budget cuts. |
12/2009 |
The UBC meets, establishes its charter, roles and identifies tasks for its future operation. The desired outputs from the first meeting of this committee are:
- A request to the Budget Resource Group for specific deliverables, data and assistance.
- Timelines, meeting dates, roles and agreement on how work will be completed by the UBC.
|
01/2010 |
UBC works on tuition, fees and financial aid and submits recommendations to senior staff and president. Senior staff prepares budget reduction scenarios of 5%, 10%, 15% and submits to Chief Financial Officer (CFO).
|
02/01/2010 |
University Budget Committee (UBC) receives budget proposals from CFO for administrative departments. |
02/15/2010 |
VPAA sends academic budget proposals to CFO; CFO sends to UBC. |
02/01–04/02/2010 |
Budget initiative leaders present the budgets prepared by senior staff to the UBC. |
04/02/2010 |
UBC sends recommended budget to senior staff and president. |
04/2010 |
President Lord reviews the final budget assembled from recommendations by the UBC and senior staff. |
05/2010 |
President Lord submits the final budget to the board of trustees for adoption. |
