TO: University of Idaho Students, Faculty and Staff
FROM: Scott Green, President
DATE: March 29, 2021
SUBJECT: Vandal Hybrid Budget Model
We have begun to formally roll out the new Vandal Hybrid Budget Model, culminating with a university-wide webinar on March 25.
While we did not take questions during the webinar, I encourage you to view the recording, read the working group's white paper, review the robust FAQs and submit new questions via the Sustainable Financial Model webpage. Questions are now evolving to be more specific to the units and, as such, are likely to be referred to the unit financial leadership. We are committed to actively answering all questions and will continue to grow the FAQs as appropriate.
My sincere gratitude to the working group for their dedication and efforts over the past 18 months in bringing us to this point. Thanks to their depth of experience and knowledge, we now have a budget model to help us sustain and further improve the tremendous progress in turning our finances around. We are well on our way to meeting reserve levels mandated by the State Board of Education and better protecting ourselves from external economic impacts. We will also be better able to invest and grow strategically.
The implementation of the model now rests in the hands of our capable financial team. Led by Brian Foisy, the plan now becomes action. Our financial managers across the university are being trained and can help units better understand and use the model. Metrics and targets for academic colleges will be finalized by July 1. Deans and Vice Presidents, who were involved in the development, will also be a great resource as rollout continues.
Thanks to each of you as you help move our university forward, keeping in mind our goal of providing the best educational experience for our students.
Scott Green
President
president@uidaho.edu
uidaho.edu/president