Central Pool Committee Charge What pools of central funding will be needed in a new decentralized budgeting system? How do these requirements match up.

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Presentation transcript:

Central Pool Committee Charge What pools of central funding will be needed in a new decentralized budgeting system? How do these requirements match up against current funding for central reserves? How should we conceptualize State Capital funds within the new decentralized budgeting system? What is the appropriate cash reserve for the Central University, to ensure that we can ensure the University’s viability?

Potential uses of central pool funds Emergencies Utility spikes and maintenance beyond standard maintenance Teaching reserves to help quick growing units meet demand before funding from the activity- based budget catches up with enrollment. Opportunity hires Salary inequities Promotions Strategic investments

Types of Central Pool Funds Contingency funds for the unexpected Reserves for future expenditures (utilities and maintenance) Strategic investment funds Reserves for academic needs

’07 projected budget Current centrally held funds –Under the responsibility of the President, Provost, VP for Finance and Admin, or as centrally budgeted utilities or facilities costs –Dozens of accounts totaling $68,708,560

Proposed Central pool funds (transitory pools) General Fee (will be collected and allocated to the areas identified as being associated with the general fee) Central operating (will be collected centrally and distributed to academic support areas)

Proposed Central Pool Funds Central operating contingency – currently $2.1 million Central operating reserve Central utilities reserve Central maintenance reserve—currently $300,000 Strategic Investment Fund—currently $3.5 million Strategic Cash Reserve—currently $1.7 million