Budget

The Office of the Provost is responsible for sustaining academic excellence and sound budgetary practices across our colleges, schools, research centers, and institutes. As we move toward the next budget cycle, we remain committed to key strategic goals, clearly articulated by University President Stanley and Provost Bernstein: Enhancing Faculty Success, Enhancing Student Success, Enhancing Diversity and Inclusive Excellence, and Enhancing Institutional Effectiveness. To support these goals, we continue to implement an academic budget and planning process that is transparent, builds trust, and positions the Stony Brook University for sustainable growth.

Strategic Financial Goal

Implement an academic budget and planning process that aligns with the University’s mission and new budgeting process, provides transparency, builds trust, and positions the University for sustainable growth.

We have several objectives that will help lead us to this goal, including:

Financial Objective 1	Allocate resources strategically
Objective 1a.	Understand our current financial condition, including out-year projections
Objective 1b.	Identify areas for improving institutional effectiveness Academic cost modeling & data driven revenue projections Understand capacity (i.e. workload analysis)
Objective 1c.	Communicate our financial position to units in a transparent way
Objective 1d.	Identify mission-centric growth opportunities, establish buy-in, and allocate resources accordingly
Financial Objective 2	Implement policies and procedures to support sustainable growth
Objective 2a.	Create a system of checks and balances Decentralize budget transactions Set unit expectations and provide appropriate resources, including accountability for managing within budget constraints Implement a regular process for unit financial condition reporting (i.e. monthly, quarterly) and track variances
Objective 2b.	Implement a process for receiving, approving and recording financial commitments Build in budget flexibility, so that both the provostial area and university can respond timely to opportunities and/or challenges
Objective 2c.	Identify and implement policies/procedures/budget models that support growth and sustainable activities