Budget Optimization Initiative
Idaho State University’s Budget Optimization Initiative is a multi-year process led by the Budget Advisory Group to strategically balance Central University Fund revenues and expenditures.
This initiative will be led with the same agile and iterative, collaborative, and principle-driven approach used to develop ISU’s new budget model. It will involve extensive involvement with all units and stakeholder groups as we garner the collective best thinking of the campus community.
Areas of Focus:
- Continued growth in enrollment and net tuition revenue
- Growing and leveraging other revenue sources in alignment with ISU’s strategic plan and academic and research plan
- Scaling successes and best practices University-wide
- Examining our scholarship and discounting practices
- Evaluating organizational and financial structures
- Focusing on efficiencies and effectiveness
- Expanding our data set and looking at benchmark data from peer institutions
- Budget reallocations and reductions based on established parameters and criteria
- Short term measures to reduce draw down of central reserves
Timeline:
Recommendations will be brought to Leadership Council then Administrative Council for approval and will go into effect during the FY2025 and FY2026 budget cycles.
Review the background document link for more information about this initiative.
Contact:
Jen Steele, Chief Fiscal Officer, jennifersteele@isu.edu, 208.282.4277
Overall Progress Report:
Please review the Budget Optimization Initiative's progress report for the overall status of the initiative.
Budget Optimization Operating & Financial Structure - Early College Report
Transfers and Subsidies BOI Recommendation - Transfers & Subsidies Report
Project Leads:
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- Cody Fitch
- Cindy Hill
Project Initiative: Early College Operating and Financial Structures
Scope of Work:
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- Review Early College program mission, goals, and outcomes
- Review current operating and financial structure
- Review synergies and redundancies with Enrollment Management and other areas
- Review opportunities for increased matriculation
- Review pros/cons of having Early College roll up to Central University Funds
- Present recommendations for optimization
Kick-Off Date: March 2023
Review Dates:
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- Dean’s Council July 26th, 2023
- Budget Advisory Group August 25th, 2023
- Administrative Council September 13th, 2023
Project Leads:
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- Jen Steele
- Russ Mayer
Project Initiative: Transfers & Subsidies Operating & Financial Structures
Scope of Work:
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- Inventory current central transfers and subsidies, history, and agreements
- Review with unit leads and UBOs
- Present recommendations for any updates or changes
Kick-Off Date: March 2023
Review Dates:
-
- TBD
Project Leads:
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- Jen Steele
- Cody Fitch
Project Initiative: Online Program Fees Operating & Financial Structures
Scope of Work:
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- Review individual Online Program forming documents, goals, outcomes
- Review individual Online Program revenue and expenditure structures
- Review current revenue splits
- Explore opportunities for standardization
- Develop options for ensuring fiscal sustainability in both local and Central University funds
- Present recommendations for optimization, which could include a phase-in plan for any changes
Kick-Off Date: March 2023
Review Dates:
-
- TBD
Project Leads: Lisa Leyshon
Project Initiative: Purchasing, Shared Service Models
Scope of Work:
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- Review opportunities for shared contracts and cost savings within ISU and with peers
- Present options and recommendations for budget optimization
Kick-Off Date: July 2023
Review Dates:
- TBD
Project Leads:
- Jen Steele
- Megan Baskins
Project Initiative: Student Activity Fees, Operating & Financial Structures
Scope of Work:
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- Inventory current student activity fees
- Document fee purpose and uses in alignment with ISU’s mission and strategic plan
- Analyze trends: rates, revenue, expenditures, fund balances
- Present recommendations for optimization
Kick-Off Date: March 2023
Review Dates:
-
- TBD
Project Leads:
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- Jen Steele
- Fred Parrish
Project Initiative: Administrative & Service Unit Allocation Model, Operating & Finance Structures
Scope of Work:
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- Using the budget model data set, benchmarking data, and peer review, develop options for a budget allocation model for Administrative and Service Units
- Analyze options and impacts with unit and division leads
- Revise and refine model
- Present recommendations
Kick-Off Date: September 2023
Review Dates:
-
- TBD
Project Leads:
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- Jen Steele
- Megan Baskins
Project Initiative: Benchmarking, Data
Scope of Work:
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- Identify resource(s) for benchmarking academic and administrative support units
- Select resource(s) and submit the required data and information
- Apply and analyze benchmark results with unit and division leads
- Develop recommendations for utilizing benchmark data to develop a service unit budget allocation model and update college allocation model
- Identify additional opportunities for budget optimization
- Present recommendations
Kick-Off Date: March 2023
Review Dates:
-
- TBD
Project Leads:
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- Corey Zink
- Cathy Wooton
Project Initiative: Scholarship Practices, Operating & Financial
Scope of Work:
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- Review current scholarship grid, other internally funded scholarships, foundation scholarships, distribution practices
- Review best practices (UI, others)
- Ensure ISU scholarship practices align with and support the Strategic Enrollment Management plan.
- Develop options for reducing internal scholarship expenses to include use of Foundation funds and sequencing of awards
- Present recommendations
Kick-Off Date: April 2023
Review Dates:
-
- TBD
Project Leads:
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- Marc Pino
- Sam Orme
Project Initiative: Transportation and Motor Pool, Operating & Financial Structures
Scope of Work:
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- Review current operating and financial structures, including revenue, expense, maintenance, capital repair, and replacement
- Meet with units to understand current transportation and motor pool practices, utilization, needs, issues, and opportunities
- Explore opportunities for partnering with the College of Technology
- Review best practices at peer institutions and benchmark data
- Develop options for improved efficiency, service, value-added activities, and budget savings
- Present recommendations for optimization
Kick-Off Date: August 2023
Review Dates:
-
- TBD
Project Leads:
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- Jen Steele
- Angie Dobbins
Project Initiative: Non-Academic Revenue Growth, Revenue Growth
Scope of Work:
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- Review current structures for non-academic revenue growth
- Research best practices
- Develop options for new or improved structures that:
- Incentivize units to grow revenue streams aligned with ISU’s mission
- Align with strategic plans and priorities
- Increase net revenue and resources for ISU
- Contribute to central university funds
- Present recommendations for optimization
Kick-Off Date: July 2023
Review Dates:
-
- TBD
Project Leads:
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- Jen Steele
- Cindy Hill
Project Initiative: Academic Program Growth, Revenue Growth
Scope of Work:
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- Review current structures for supporting academic program growth
- Research best practices
- Develop options for new or improved structures that:
- Incentivize program development to attract new students and/or markets
- Increase student enrollment, access, opportunity, retention, and success
- Align with strategic plans and priorities
- Increase net revenue and resources for ISU
- Present recommendations for optimization
Kick-Off Date: August 2023
Review Dates:
-
- TBD
Project Leads:
Project Initiative: Technology, Shared Service Models
Scope of Work:
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- Create a shared service model with information technology staff and resources housed under a central umbrella
- Research best practices in higher education information technology services and structures
- Inventory current information technology operations, resources, staffing, expenditures, and organizational structures at ISU
- Meet with units to identify information technology service and support needs, strengths, issues/gaps, and opportunities
- Identify opportunities for increased service, efficiency, efficacy, and budget savings to reach established budget goals while assuring optimal service and security needs
- Present recommendations
Kick-Off Date: Summer 2023
Review Dates:
-
- TBD
Project Leads:
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- Jennifer Steele
- Cindy Hill
Project Initiative: Continuing Education, Operating and Financial Structures
Scope of Work:
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- Define terms
- Inventory and review current operating and financial structures
- Review NWCCU standards
- Research best practices for continuing education structures
- Review opportunities for increased coordination, efficiency, enrollment, and revenue generation
- Marketing
- Registration and transcripting
- State reporting
- Staffing and student/customer service
- Revenue sharing
- Present recommendations for optimization
Kick-Off Date: October 2023
Review Dates: March 2024
Project Leads:
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- Patience Ternus
Project Initiative: Administrative Support Services, Shared Service Models
Scope of Work:
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- Research best practices in higher education administrative service models
- Meet with units to identify administrative support needs, issues, and opportunities
- Research consolidated and hybrid administrative support structures that emphasize shared services
- Evaluate workloads of positions
- Inventory current software solutions and applications and related technology resources
- Identify opportunities for increased service, efficiency, efficacy, and budget savings while assuring optimal coverage, support, and service
- Identify opportunities for professional and career development and progression for administrative staff
- Analyze costs, benefits, and resource allocation implications
- Present recommendations
Kick-Off Date: December 2023
Review Dates: June 2024
Project Leads:
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- Miriam Dance
Project Initiative: Marking and Communications
Scope of Work:
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- Meet with units to identify MarCommservice and support needs by examining strengths, issues/gaps, and opportunities
- Research best practices in higher education MarCom services and structures
- Inventory current MarCom operations, resources, staffing, expenditures, and organizational structures at ISU
- Identify opportunities for increased service, efficiency, efficacy, and budget savings while assuring optimal service and MarCom needs
- Present recommendations
Kick-Off Date: January 2024
Review Dates: Fall 2024
Project Leads:
- Patience Ternus, George Casper, Allyson Johnson
Project Initiative: University Events
Scope of Work:
- Inventory current events operations, resources, staffing, expenditures, and organizational structures at ISU
- Research best practices in higher education events services and structures
- Obtain stakeholder and customer feedback (internal and external)
- Identify opportunities for increased service, efficiency, efficacy, and budget savings
- Clearly define each venue's roles and responsibilities
- Present recommendations
Kick-Off Date: April 2024
Review Dates: TBD
Project Leads:
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- Mark Andersen
Project Initiative: Custodial and Grounds Services
Scope of Work:
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- Research best practices in higher education Custodial Services and Grounds Maintenance structures
- Inventory current operations, resources, staffing, expenditures, and organizational structures at ISU
- Collect stakeholder and customer feedback
- Identify opportunities for increased service, efficiency, efficacy, and budget savings
- Present recommendations
Kick-Off Date: March 2024
Review Dates: Fall 2024
Project Leads:
-
- Jennifer Steele
Project Initiative: University Administration
Scope of Work:
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- Define terms
- Research best practices in higher education administration models
- Analyze ISU trends in administrative and other managerial/leadership roles
- Review benchmarking data to compare ISU administration and related structures to peers
- Evaluate workload, roles, and responsibilities
- Meet with stakeholders to obtain feedback on current structures, efficiency, and effectiveness and suggestions for improvement
- Identify opportunities for increased service, efficiency, efficacy, and budget savings
- Perform cost measurement calculations (cost allocation using various methods such as direct distribution and step-down method) to clarify support centers versus mission cost centers.
- Present findings and recommendations
Kick-Off Date: March 2024
Review Dates: Fall 2024
Budget Optimization Work Teams coming soon:
- Shared Service Models
- Idaho Falls and Polytechnic