Idaho State University’s budget model creates a comprehensive budget structure for the University as part of a larger planning and institutional effectiveness framework. The budget model is designed to support and further ISU’s mission, values, and strategic goals and objectives.
- Trust, transparency and inclusivity in budget development and administration
- Maximization of University resources
- Budgeting and decision-making informed by data, strategic plans and priorities
- Budget structures that foster growth, innovation and stewardship
- Growth through mission-focused student recruitment and retention
- Empowerment, mutual accountability, responsiveness, and adaptation at the local level
Future Development Items
The following items have been identified for future review and consideration. These items will be developed by the Budget Advisory Group using the same principle-driven, agile and iterative, and collaborative approach, with recommendations presented to Leadership and Administrative Council for inclusions in future budget cycles.
Base Budget Review
Assess current base budgets against benchmarks and related resources to assure resources are optimally deployed across the University.
Service Unit Allocation Model
Develop a model for allocating and reallocating Central University funds to service and administrative units.
Establish central contingency funds for unanticipated issues and opportunities that arise over the course of a fiscal year.
Market and Equity Fund
Establish a central market and equity fund to more systematically and equitably address market and equity salary issues across the University.
Participate in Delaware and/or other benchmarking studies to analyze resource allocation and ensure units are adequately resourced to achieve ISU's mission.
Data Set Enhancements
Continue to refine current data set elements and add additional elements such as major data, service versus major courses, disaggregated enrollment data by student pay type, research awards and productivity, and graduate assistance metrics. Build data reports into financial reporting systems for increased validity and access.
The Budget Model Advisory Group presented Preliminary Budget Model Recommendations for ISU's comprehensive budget model to Leadership Council in October 2022. These recommendations were approved by Administrative Council in December 2022 for FY2024 implementation.
In Spring 2023, the Budget Model Advisory Group became the standing Budget Advisory Group, which will review and assess the effectiveness of ISU’s Budget Model and provide recommendations for future revisions and refinements.