University of Vermont

Incentive-based Budgeting (IBB)

IBB Implementation Project Update - July 23, 2014

This is the first of what will be a series of regular updates designed to keep the UVM community informed about the status of the project to implement UVM’s new incentive-based budget (IBB) model.

The Implementation Work Groups have met several times to date, and we are making good progress toward our first milestone of preparing draft proposals for Provost Rosowsky’s review in September. Issues currently being discussed and addressed include the budget process for Fiscal Year 2016, business processes to support sharing of F&A revenue among two or more Responsibility Centers, and updated procedures for facilities space and income/expense and other revenue-generating activities.

Finally, members of the project’s Change Management Work Group, Leadership Committee, and Implementation Team will take part in a three-day Change Management Certification Program in late September conducted by ProSci, a leading change management research and training firm. Project sponsor and Change Management Work Group chair Richard Cate is pleased to be building both individual competency in and organizational capacity for a research-based change management methodology that will be essential to a successful implementation of IBB.

Last modified July 24 2014 06:56 AM