Build a Dynamic Budget Model and Rebalance Budgets

 

Build a Dynamic Budget Model and Rebalance Budgets

As we move away from RCM, the University will implement a simplified, transparent hybrid model that is dynamic and focused on the future impacts of existing trends, enrollments, and investments. This streamlined model will provide more clarity about resource allocations to support strategic goals and ensure a sustainable financial future.

budget icon
  • Adjusted housing and culinary revenue expectations and reduced expenditures to ensure sustainable operations both today and into the future. 
  • Paused over 7 million in housing capital construction, in addition to other budgetary reductions, to offset the impact of 10.8 million in housing refunds.
  • Refunded just over $8.3M from dining to students and suspended $2.4M in capital investment as well as implementing several other budget reductions to minimize expenditures.
  • Saved $292,242 with opportunity-buy purchases, while maintaining a high-quality culinary program.
  • Raised external food and retail sales by $192,514, an increase of 37% over FY19.
  • Streamlined food cost to 24.3%. The National Association of College and University Food Services (NACUFS) benchmarks 25.5% for schools OHIO's size and 26.2% for the most efficiently operated contract schools.