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Oct. 24, 2023
As fiscal-year 2025 budget planning shifts into high gear over the next few months, I want everyone in the Metropolitan State University of Denver community to be invested in the process. Now is the time to confer with your supervisor, chair or University Planning and Budget Advisory Committee (UPBAC) representative as you prepare to provide input into divisional budget proposals!
To guide this process, I have set our overall budget priorities for next fiscal year. These priorities are aligned with our 2030 Strategic Plan and the investments needed to ensure the future success of the institution. The departmental budgets that you develop likewise should align with the University’s Strategic Plan while keeping the following tenet top of mind.
All budget decisions at MSU Denver should recognize the importance of keeping the cost of education affordable for our students. This is critical to carrying out our mission, boosting degree-completion rates and improving upward social mobility. It is incumbent on us to spend our money as efficiently as possible to best serve our students. This includes providing faculty and staff with the tools and resources necessary to most effectively support students. Departments are charged with focusing on operational efficiencies and supporting students and faculty while returning savings or directing them to strategic priorities.
I’ve identified five spending priorities for the FY25 budget. Each of these priorities continues ongoing work to advance the objectives of the University’s Strategic Plan.
In addition to designing budgets around these priorities, budget owners should review priorities from previous years (such as Stuff That Works) and incorporate into the FY25 budget only those proven effective. Please plan to sunset initiatives that have been less effective or consist of temporary activities.
Any requests for limited additional funding must be selected, ranked and proposed to University leadership and UPBAC based on the priorities outlined above.
Budget owners will receive a budget circular from the Office of Budget in early November. The document will include specific assumptions and instructions on preparing budget proposals.
Special thanks to the budget team, led by Chief Financial Officer Jim Carpenter. Powered by upgrades to our systems via Workday along with revamped processes, the team’s efforts to modernize our budget are already resulting in a more transparent and inclusive model. I hope that this direction for evaluating budget priorities helps you align priorities with your departmental budget proposals and with our mission of preparing our students for Colorado’s modern workforce.
Janine Davidson, Ph.D.