Budget and Planning

Timeline and Calendar for FY2009 Budget Development

using the Resource Management Model

Each year, Iowa State University develops a budget for the next fiscal year. Beginning with fiscal year 2009, the budget development process will use the Resource Management Model, which is a change from the traditional method. FY2009 budget development began in Fall 2007. Executive Vice President and Provost Elizabeth Hoffman provided planning parameters and guidelines to ensure changes in direct expense budgets for FY2009 are fair for all units.

Budget development for the Resource Responsibility Centers involves developing both expense budgets and revenue budgets.

Expense budgets include direct expenses and allocated expenses. The major administrative and support units develop their expense budgets, which should be completed by December 2007, with input from their advisory committees. Those budgets will be allocated to all units.
Revenue budgets include tuition revenue projections and IDC revenue projections as well as the unit's share of the Resource Management Fund.

During FY2009, an online system will be used to distribute actual revenues and expenses under the Resource Management Model. Tuition and IDC revenues will be closely monitored both at the Resource Responsibility Center level and centrally.