In 2013, the University of Vermont’s (UVM) budgeting system was not meeting the diverse needs of the campus community. The university wanted to improve financial decision making by better integrating planning and reporting, and making financial information more transparent, accessible, and consistent.

In 2015, the university moved to an incentive-based budgeting model—responsibility-centered management (RCM). The following year, UVM implemented an integrated financial management process, which Kaufman Hall automated through a new platform for financial reporting, multiyear budgeting, and multiyear salary planning.

Learn how the introduction of a system solution for strategic financial planning, which placed RCM in the context of the university’s overall resource risks and opportunities, led to informed decisions and accountability for those decisions.

Topics:

  • Enterprise performance management
  • Reporting
  • Budgeting
  • Labor planning
  • Integrated planning

This case study was originally published in an article entitled “Financial Fix,” which appeared in the June 2018 issue of Business Officer, the monthly flagship magazine of the National Association of College and University Business Officers in Washington, D.C.

 

 

University of Vermont Case Study