After Ohio University released the first drafted formula for its switch to a Responsibility Centered Management budget strategy last month, two forums will take place Tuesday to clear up any confusion surrounding the plans.
The formula aims to calculate individual colleges’ financial standing after the switch and allocates 15 percent of a college’s funds based on the number of students and 85 percent based on the amount of weighted student credit hours.
The open forums will be held from 12:10 p.m. to 1 p.m. and 4:10 p.m. to 5 p.m. in 124 Bentley Hall.
“There are still a number of things undecided in the model, but (the forum will provide) an overview of the model and how it was geared,” said Ann Fidler, chief of staff to OU’s Executive Vice President and Provost Pam Benoit.
Benoit and Steve Golding, vice president for Finance and Administration, will be attending both forums, which will feature conversation about how RCM is built by explaining elements of the model and clarifying the rationale behind the decisions, Fidler said.
The College of Arts and Sciences and the College of Business are expected to receive the greatest return because of their class sizes and general education requirements, while colleges such as Fine Arts and Scripps are subject to little or no returns because of the need for smaller class sizes.
The formula will be put to test next year by running both the current and RCM systems to examine and compare outcomes before making the official switch by 2016, said John Gilliom, Faculty Senate’s Finance and Facilities chair at last week’s meeting.
“(You) will be able to see the first introduction for basic principle and operating practices going into the model,” Gilliom said.
A previous forum in February focused on the key elements being used to construct a budget model, while Tuesday’s forum will focus more on the structure and incentives in the model consulted by the Huron Consulting Group.
For those unable to attend either of tomorrow’s forums, both will be available via webcast, and anyone may ask questions by emailing provost@ohiou.edu.
When: May 22
12:10 p.m. – 1 p.m.
4:10 p.m. – 5 p.m.
Where: 124 Bentley Hall
WebCast: www.ohio.edu/mediaserver/live.cfm?videoid=a6e0f044f906.
Powerpoint: www.ohio.edu/provost/rcm/documents.cfm
A copy of the presentation can be found here: www.ohio.edu/provost/rcm/documents.cfm
af234909@ohiou.edu
