University of Vermont

Incentive-based Budgeting (IBB)

Project Scope

There are a number of operational issues to be addressed as part of implementing IBB at UVM.

  • Annual budget process and timeline
  • Business process and system changes
    • Definition and integrity of the data that drives the IBB algorithms
    • Method for distributing revenues and expenses to responsibility centers based on the IBB algorithms
    • Changes to specific processes or systems as necessary to support IBB
  • Financial (budget-to-actual) reports for senior management, responsibility centers, and cost centers
  • Tools for financial analysis, modeling, and projections
  • Impacts on the University’s balance sheet and accurate reconciliation of revenue and expense to the general ledger and UVM’s annual audited financial statements
  • Transition support, communication, and education/training
  • Documentation of UVM’s IBB model

 

Last modified December 02 2014 12:20 PM