Financial Planning Software

The vendor is required to provide comprehensive software solution to support long-range financial planning, budgeting, and forecasting.  
- The software must address university academic and healthcare operations, providing insights into budget development, cash flow, capital planning, and salary cost analysis.
- The system should be flexible enough to accommodate the complexity of university financial structure, enabling robust scenario modeling, with modules to address the following needs:
• Long-range (ten-year) financial planning
• Five-year operating budget
• Ten-year capital budget, including deferred maintenance
• Creditworthiness simulation & ratings management
• Enrollment and tuition revenue planning
• Salary & wage cost impact modeling
- The long-range financial planning module and the five-year operating budget module serve distinct yet complementary purposes within university financial framework.
- The long-range financial planning module provides a strategic, high-level outlook over a ten-year horizon, focusing on long-term financial health, solvency, and sustainability.
- It emphasizes scenario modeling to assess the impact of macroeconomic factors, enrollment trends, wage growth, and capital investments, allowing leadership to plan for future opportunities and risks.
- University operates across 16 schools and colleges, offering 342 degree and certificate programs, from undergraduate degrees to advanced doctoral and professional degrees.
- The colleges shall include:
• Applied health sciences
• Architecture, design, and the arts
• Business
• Dentistry
• Education
• Engineering
• Graduate college
• Honor’s college
• Law
• Liberal arts and sciences
• Medicine
• Nursing
• Pharmacy
• Public health
• Social work
• Urban planning and public affairs
- A variety of vice provost units collectively drive academic innovation, student development and success, and global partnerships.
- These units reflect university broad scope of academic and administrative functions, ensuring seamless coordination between academics, healthcare, research, and community engagement initiatives; these administrative units include: academic programs & effectiveness; administrative services; advancement; athletics; auxiliaries; cancer center; chancellor; equity & diversity; enrollment management; faculty affairs; finance; global engagement; government relations; graduate college; health affairs; honor’s college; innovation; libraries; provost; research; strategic marketing; student affairs; technology solutions.
- This new financial strategy is ensuring that non-recurring funds will not be used to cover recurring expenses, which has been a source of fiscal instability in the past.
- Collaboration across academic, administrative, and healthcare units will be essential to building a financially sustainable future.
- University financial structure is complex, with a wide range of revenue streams supporting its academic and healthcare missions.
- Contract Period/Term: 5 years