Roles & Responsibilities
This group approves the biennial budget request
Board of Trustees
AU's overall rank in U.S. News & World Report (released 2022)
72
AU's budget process utilizes this time frame
Biennial or 2 year cycle
This is AU's largest category of revenue
Tuition and Fees
AU's strategic plan is organized into these three themes
Scholarship, Learning, and Community
This group is appointed by the president and makes recommendations during Budget Formulation and Approval Process
University Budget Committee
These two organizations provide credit quality ratings and in December 2020, affirmed AU's A1 and A+ ratings
Moody's and Standard & Poor's (S&P)
This stage of the budget process typically takes place in the fall of the preceding calendar year
Formulation or planning
This is AU's largest expense category and makes up roughly half of university expenses each year
Personnel
AU's classification according to the Carnegie Classification of Institutions of Higher Education
R2 - Doctoral: High Research Activity
This office includes Accounting, Accounts Payable, and Grants & Contracts Accounting
Controller's Office
This is the FY23 annual operating budget
$850.4 Million
This is a recurring, or permanent, part of a unit's operating funds
Base funding
AU's revenue and expense budgets must do this each year
Equal/Balance
These are the three main stages of the Budget Process
Planning / Formulation, Implementation / Execution, and Evaluation / Audit
This group, made up of division leadership, sets strategic and operational budget priorities
Cabinet
Name the three DC area "Market Basket Institutions" for AU's KPI
Catholic University, George Washington University, Georgetown University
This is a one-time, or temporary, allocation to fulfill a specific activity or strategic initiative
Cash funding
This percentage of the expense budget was allocated to financial aid in FY23
22%
AU's standard tuition discount ratio is approximately this percent
32%
This office coordinates and guides the budget planning/formulation stage on behalf of the President
University Budget Office (UBO)
This category (subset) of enrollment has doubled from Fall 2016 to Fall 2021
Masters/Graduate Online
This is AU's current budget model (hint: it's a combination)
Hybrid: Incremental + RCM
This division makes up over half of AU's expenditure budget
Academic Affairs
Two of the many ways we define the term "budget" at AU (hint: see slide 41)
Expression of the university’s strategic goals and funding
Plan which determines how the university’s resources will be deployed to achieve goals within a given fiscal year
Political process due to competition for limited resources
List of institutional/school/department priorities
Zero-sum game (budget needs to balance; revenue = expense)
Symbol of the financial integrity of the institution