University of Vermont

University Communications

Strategic Plan, University Budget Top Agenda at Leadership Meeting

Ira Allen tower

As part of an ongoing effort to maximize transparency and information sharing across campus, the president and the provost recently hosted a half-day meeting for university leaders who received updates on the university’s overall position; the Fiscal Year 2015 budget and the Incentive-Based Budgeting model.

The meeting, which was attended by more than 100 members of the UVM community who hold leadership positions in both academic and administrative units, is a continuation of a process that began last fall with a smaller gathering, and continued throughout the academic year with dozens of small-group interactions.

President Tom Sullivan acknowledged the numerous contributions that members of the university community have made, which have allowed the university to continue to make steady progress on its strategic action plan:

  • “Access to Success”: promoting affordability, financial access, and academic support
  • Promoting a culture of advancing academic excellence and cultivating talent
  • Identifying necessary investments to ensure a bright future
  • Instilling an institutional commitment to efficiency and effectiveness that optimizes the use of facilities, technology, assets and shared services

Additional detail on the plan can be found at uvm.edu/president/?Page=strategicplan.html.

And a complete narrative of institutional accomplishments is contained in the President’s 2013/2014 Annual Report.

Provost and Senior Vice President David Rosowsky and Richard Cate, vice president for finance and treasurer, provided an update on the FY 15 budget. While some challenges remain, and there is continued uncertainty about the amount of net tuition revenue that will be generated, the university is currently showing a balanced budget that is not requiring the use of one-time funds nor additional unit budget reductions. However, they cautioned that some uncertainty about actual net tuition revenue will remain until after the start of the fall semester, and the budget is subject to further adjustments.

Budget materials that were presented at the meeting can be reviewed at uvm.edu/provost/FY15UpdateFinal.pdf

Rosowsky also provided an update on the Incentive-Based Budgeting model. He reported that work on the model is nearly complete and a final report will be submitted to the president in a couple of weeks. He also reported that the current budget model and the IBB model will run in parallel starting July 1 during the FY15 budget cycle, and a complete transition to the IBB model will take place July 1, 2015 for the FY16 budget cycle.

Additional information about the IBB model and process is available at uvm.edu/provost/IBB/.

Rosowsky also highlighted the Science, Technology, Engineering and Mathematics Initiative, a $100 million project that will bring a state-of-the-art complex of labs, classrooms and research facilities to campus. The project will establish a promising new academic and economic development vision for UVM.

The case for the STEM initiative is articulated at uvm.edu/provost/The%20Case%20for%20STEM.pdf.

The large gathering of vice presidents, deans, department chairs, administrative directors, governance leaders, IBB steering committee and members of the university business advisers also heard a presentation by Rich Bundy, president and CEO of the UVM Foundation, about the university’s comprehensive campaign. Bundy explained that the campaign is in its quiet phase, and it is being modeled and structured around a provisional $500 million campaign goal over eight years. Bundy said the first three years have proved to be among the best in all of UVM’s fundraising history, positioning the campaign on a promising path toward success.