Background
In 2022, FAU began a process to modernize its budget model to better align financial planning with the University’s strategic goals and academic mission. Led by University President Adam Hasner and Jayson Iroff, Chief Financial Officer, this initiative was launched to increase transparency, improve decision-making, and empower faculty and university leaders to advance the academic mission and student outcomes.
Several important developments have continued to shape this effort. With the arrival of Adam Hasner as the new University President and the development of a new strategic plan, FAU has renewed its commitment to aligning resources with institutional priorities.
FAU continues to build a budget model that allocates resources transparently, provides a single source of truth for financial information, and enables continued investment in academic, research and student success priorities.
What We Have Completed
Phase 1: Current State Assessment
- Identified strengths and weaknesses of the current model.
- Assessed readiness for transformative change.
- Outline goals and key needs for the future model.
- Conducted a budget maturity assessment.
Phase 2A: Budget Model Design & Consensus Building
- Facilitated Steering Committee decisions to produce a revenue distribution model that supports FAU’s institutional goals.
- Built a flexible test model that allows FAU stakeholders to review multiple output scenarios.
- Socialized the redesigned model with shared governance groups (e.g., Dean’s Council, Faculty Senate, Executive Leadership Team) and gathered campus feedback.
- Developed an implementation Plan for the new model.