Why a New Model?
Our previous budget model had听a number of challenges.
In our previous model, funding allocations听were made each year based on legacy decisions made long ago, and at different times. Only a very small percentage of revenues might be听available in a typical year for investment in mission-aligned projects or activities. Interviews with deans, vice-chancellors and business听officers conducted in 2019 suggested that innovative teaching and research ideas and initiatives could be stifled by our previous听budget model. Our previous model lacked transparency and the听flexibility to respond to external factors.