- Implementation Committee
- Participation in Decision Making
- Budget 101
- Budget 101 - Voice Over
- Budget 102
- Budget 102 - Voice Over
Advantages to MIRA
Why Incentive Based Budget Model?
Incentive based budgeting holds five main advantages.
- Activity level funding
- Decentralized resource allocation
- Inclusive decision making
- Flexibility in resource allocation
Activity Level Funding – Incentive based budgeting focuses on aligning funding resources with activity levels. Increases in student credit hour generation results in increased college/school funding. Increases in funded research activity results in increase unit funding. Decreased activity levels results in decreased funding. In other words, Primary units receive the revenue that they were responsible for generating.
Decentralized resource allocation – Revenue is being allocated to the Primary units that generate it, not being distributed on a historical base. For Academic Primary units, the allocations are at the College and School level (Deans). This allows for a greater flexibility at the College/School level. For Auxiliaries, Centers, and Institutes, allocations are made at the unit lead level.
Transparency – By placing all revenue, direct expenses, service unit allocation, and strategic investment information into statements that everyone can see, it makes all financial information very clear.
Inclusive decision making – To go along with transparency of decision making, there needs to be mechanism to create conversation. This high level process map illustrates the interactions of the participants and different committees that participate in MIRA decision making. The curved lines show the interactions between the different groups.
Flexibility in resource allocation – Having a model where everyone has an impact on the outcomes keeps UND heading in the same direction with everyone on the same page. A critical part of the model is having a planned strategic investment pool.