FAQs
This initiative will perform a comprehensive, campus-wide assessment of base budget funding allocations, and transform UConn’s budget model into a more modernized, equitable, and strategic process for allocating funds with the goal of simplifying the budget process, increasing transparency, and building incentives to create innovative and efficient strategies. This is a two-year process, with an anticipated go-live date of July 1, 2027.
UConn’s transformed budget model seeks to include:
- Alignment with UConn’s mission and priorities
- Academic excellence and innovation
- Rewards for enrollment growth
- Incentives for efficiencies
- Trust in decision making
- Guardrails for accountability
- Simplicity and transparency
The transformation project is designed to engage the entire UConn community. Interviews will be conducted in mid-September with leaders of all academic units, including regional campuses, and most non-academic units. Additionally, working groups will be convened to discuss and assess various options under consideration and provide feedback and recommendations in a group setting. Lastly, listening sessions and town halls will be conducted to give all faculty and staff the opportunity to ask questions and receive feedback.
The University recognizes a need to bolster financial transparency, accountability, and efficiency, beyond what the current budget model can support. The new model will encourage innovation, such as the creation of new programs and entrepreneurial activity, and provide incentives around enrollment growth, spending efficiency, and other institutional priorities.
No, the budget model does not solve the structural deficit that the University is facing. While the model will likely incentivize revenue generation and expense reduction, the primary purpose is to allocate existing operating funds (mainly tuition dollars and state support) across units in a transparent way based on a variety of metrics.
No, the organizational assessments are part of a separate initiative being conducted by Segal. They are not related to this initiative.
The current budgeting approach will be used for fiscal year 2027 (beginning July 1, 2026), although the new prototype model will operate concurrently to allow the project team to compare the old and new approaches and refine the model as needed. During this time, unit leaders will get an early look at the new model, and a Governance Plan will be put into place.
The new budget model includes all units within the Storrs and regional campuses. It does not include UConn Health.