DePaul will begin its budgeting process for the 2015-16 academic year when the Strategic Resource Allocation Committee meets next month.
The goal of the committee, known as SRAC, is to propose a budget that continues to achieve the university's strategic objectives and further DePaul's pursuit of its mission. Committee members representing DePaul's faculty, staff and students will discuss broad financial decisions, such as tuition pricing and employee compensation, and recommend a comprehensive university budget.
"The committee doesn't approve or deny budgets for specific departments or make recommendations on the types of budget requests that are decided on the college or department level," says Bob Kozoman, executive vice president and chair of SRAC. "Rather, SRAC looks at DePaul's big-picture budget to balance our key costs - namely total compensation, facilities management and student financial aid - with the university's expected financial position in the coming academic year."
SRAC meets several times in November to hear budget presentations from the Offices of Academic Affairs, the President and the Executive Vice President. The committee considers enrollment projections and tuition pricing, fees and financial aid as proposed by the tuition pricing committee. They also consider the executive areas' presentations on proposed expenses and the university's projected financial position, which includes potential benefits and compensation costs and other expenditures for the coming year.
Before the end of November, SRAC's nine members will vote on a budget proposal to recommend to the Office of the President. The university president can approve or modify the recommendations before making a budget proposal to the board of trustees' finance committee.
In December, the board finance committee considers the president's recommendations for approval and may send the budget as proposed or a modified set of recommendations to the general board of trustees. At its meeting in early spring, the board votes on a final budget that will take effect July 1, 2015.
SRAC members are appointed by the president, including representatives who are recommended by Staff and Faculty Council and two dean appointments who are recommended by the provost. This year's voting members of SRAC include:
Bob Kozoman, executive vice president and SRAC chair
Bonnie Frankel, vice president for finance
David Miller, Interim provost
Thomas Mondschean, Faculty Council representative
Robert Ryan, Staff Council president
Matthew von Nida, Student Government Association president
Michaela Winchatz, Faculty Council president
Ray Whittington, dean, Driehaus College of Business
Paul Zionts, dean, College of Education