Objectives and Performance Measures
1. Accuracy/Validity of budget vs. actual - how close did we budget as compared to actual financial reports; not to exceed XX %; provide analysis of FY2003 budget as benchmark and aim to have a smaller and smaller percentage variance each year.
2. Number of quarterly budget v. actual reports generated and distributed; reports should include analyses as well as financial data; begin in FY2003 and target disbursement no later than 30 days after close of the quarter
3. Prepare annual revenue and expenses projections for presentation to Executive Cabinet no later than December/January in order to prepare for the following Fiscal Year budget; target January 2003
4. Prepare five-year revenue and expense projections for presentation to Executive Cabinet in conjunction with annual projections; target January 2003
5. Prepare special project financial/budgetary reports on selected areas on campus as part of our own campus' quest for financial freedom; provide impact reports on actions of state and local legislative actions, economic trends, etc. Target two special reports each year.
6. Devise and design helpful financial reports to assist units with their own budgetary analysis and budget building.
7. Assist Administration and Finance divisions with designing performance measurements and benchmarks that are trackable, measureable and link performance to resource allocation. Target January 2003.
8. Assist Administration and Finance divisions with identifying and quantifying core and non-core programs. Target January 2003.
9. Hold regular meetings on campus with budget managers to share information, provide training and improve communication about budget and financial issues. (Target October 2002)
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