The EMU Budget Council is a group of faculty, staff, administrators and student representation from key areas who are formally assigned to provide guidance and recommendations to the Strategic Operations council (SOC) on the process, procedures and development of the university budget. It is charged with:
- Understanding the elements of the budget
- Reviewing historic budget and actual revenue and expenditure information
- Reviewing strategic planning priorities in context with the budget process
- Ensuring that the annual budget represents all major revenues and expenditures, is balanced, and is consistent with long-range financial projections based on careful analysis of program, enrollment, market, compensation, and other relevant trends
- Recommending university macro budget and priorities
- Identifying standards and processes to be followed by the areas responsible for budget development
- Obtaining and disseminating accurate, timely budget information
- Ensuring that adequate communication about budgetary issues and procedures occurs within the university community
Membership
Faculty, staff and students will have representation on the Council. The EMU Budget Council should represent a cross section of university stakeholders while representing all divisions and colleges. As such, membership has been carefully considered to evaluate university priorities and direct limited resources in furtherance of those priorities.