McMaster’s budget model supports strategic priorities, review finds
McMaster University’s budget model structure works well and is appreciated for its transparency and for the incentives it presents to the university’s Faculties, a recent review concluded.
In its findings report, the reviewers also make five recommendations to address new challenges in higher education related to budgetary tightening in Ontario and to the lingering impacts of the COVID-19 pandemic.
The review was conducted in June 2023. It included extensive consultations with deans, university leaders (including senior budget leaders from across campus), faculty, staff, and students. In addition, more than 100 individuals from across the university attended a community consultation session on June 6 that included a presentation on the budget model followed by a question-and-answer session.
The report benefited from the deep experience of the review committee. Members included the vice-president, operations and real estate partnerships and vice-provost, academic operations at the University of Toronto and five representatives from McMaster. Of the five internal representatives, three are past chairs of McMaster’s budget committee, one is the current chair and the fifth member has been a budget committee member since 2018.
More information and the University Budget Model Review report is available on the Office of the Provost’s website.