Review and Assessment Services

The Vendor is required to provide review and assessment services for include:
1. Assess the current budget model
•    Evaluate structure, assumptions, allocation methodologies, and governance
•    Review revenue distribution, cost allocation, and incentive structures
•    Assess transparency, predictability, and usability
•    Assess governance structure
•    Assess budget development timeline
2. Benchmark against peer institutions
•    Compare the university’s model with comparable institutions
•    Identify best practices and emerging trends in higher education budgeting
3. Evaluate financial sustainability
•    Analyze risk exposure (enrollment volatility, state appropriations, research funding, etc.)
•    Assess structural deficits and cross-subsidization
4. Stakeholder engagement
•    Conduct interviews and focus groups with senior leadership, deans, department chairs, and finance personnel
•    Gather perspectives on strengths, weaknesses, and unintended consequences
5. Provide recommendations
•    Recommend improvements to the existing model and provide budget model alternative examples using university budget data from the last 3-5 years
•    Evaluate technology tools (i.e. Workday) for compatibility with proposed models
•    Identify implementation considerations, governance changes, and transition planning steps
•    Provide financial modeling scenarios.