Editor’s note: The following message was sent to the CSU community by Executive Vice President Rick Miranda and Vice President for University Operations Brendan Hanlon on Oct. 13.
Dear Colleagues:
Colorado State University recognizes a need to design and implement a new budget model that will further the financial prioritization of our mission areas as well as proactively support growth and success in the ever-changing landscape of higher education. However, such a foundational initiative cannot be successful without the broad engagement and participation of our University community.
A new model can enhance our ability to invest strategically in delivering on our mission of access and inclusive excellence, high-quality educational experiences, impactful outreach and engagement, and a research enterprise of exceptional standing. Furthermore, addressing the challenges with our existing incremental budget model affords us the ability to consider alternative models that are more flexible and responsive to external pressures.
Budget Model Redesign Open Forum
Seeking input and representation across our institution, CSU is embarking upon the process to design a new budget model that is future-focused, supports entrepreneurial thinking, and fosters adaptability to keep CSU competitive. We encourage you to lend your voice to this important initiative and invite you to attend the following open forum:
Wednesday, October 25
11:30 a.m. – 12:30 p.m.
Lory Student Center, 376-378
or join via this Zoom Link
This forum will provide opportunities to learn about the budget modeling process, anticipated timeline, governance structure, and offer feedback or ask questions. In addition to this forum, a series of Lunch & Listens and Coffee Chats will be held in November. More information is available at: https://operations.colostate.edu/budget-model-redesign/.
Governance Structure
The governance structure for the budget model redesign process will consist of an Executive Sponsor Committee, Steering Committee, and Technical Committee. The Executive Sponsor Committee is comprised of a cross-section of executive leadership charged to ensure the alignment of the budget model with the University vision and mission with a commitment to fostering innovation, transparency, and financial sustainability. The Executive Sponsor Committee, recently appointed by President Amy Parsons, includes President Parsons and current Executive Vice President Rick Miranda as well as:
- Brendan Hanlon, Vice President for University Operations and Chief Financial Officer
- Melinda Smith, Chair of Faculty Council and Professor of Biology
- Marion Underwood, Provost and Executive Vice President (effective January 1, 2024)
Steering & Technical Committees, Presidential Fellows
The Steering and Technical committees will be comprised of members from across the University to reflect a robust variety of CSU perspectives, roles, and experiences and promote balance and shared governance in the redesign process. The Steering Committee will collect and assess all campus feedback, and vet all budget model proposals presented by the Technical Committee.
The Steering Committee will work with the Technical Committee to develop and propose a new budget model to be presented to the Executive Sponsor Committee. Members of the Steering and Technical committees will include leadership of the Faculty Council, Administrative Professional Council (APC) and the Classified Personnel Council (CPC), deans, budget officers, and other members of the CSU faculty and staff to be announced. For information about nominating potential Steering or Technical committee members, please visit: https://operations.colostate.edu/budget-model-redesign/committees-and-governance/.
Presidential Fellows Professor Rob Mitchell in the Department of Management and Associate Professor and Extension Specialist Jennifer Martin in the Department of Animal Sciences – both members of the Faculty Council Executive Committee – will serve as advisors to all three budget model redesign committees and will help guide the process of gathering feedback from the campus community.
It is an exciting time at CSU but we must acknowledge the challenges that are ahead and the changing higher education landscape. The process of examining and revising our budget model can help promote financial sustainability and foster enhanced transparency, creativity, and entrepreneurial thinking. By acting strategically and with our characteristic commitment to excellence, we can position CSU and our University community for long-term success while remaining deeply committed to our land-grant mission.
Sincerely,
Rick Miranda
Executive Vice President
Brendan Hanlon
Vice President for University Operations
Chief Financial Officer
About CSU’s Budget Conversation Series
Colorado State University is inviting all faculty, staff, and students to engage in two different yet simultaneous series of campus conversations and listening sessions around the institution’s budget. The first series of conversations focuses on the University’s current budget for FY23-24 and FY24-25, referred to as the Incremental Budget. This series of conversations includes the Fall Budget Open Forum (October 18), the summer Budget Open Forum (June), and the Fall Budget Retreat (September).
The second series of conversations focuses on options for renewing our budget model for an innovative future in alignment with our land-grant mission and institutional priorities. The goal is to design a new budget model that enables greater creativity and increased agility while improving fiscal responsibility and transparency in our financial decision-making processes. This is what is referred to as the Budget Model Redesign.
