Mandate from Policy B2.0:
The Resource Allocation and Budget Committee shall be the faculty committee in all matters pertaining to university budget and finances. It shall also submit to the Academic Senate for review and approval academic priorities related to external academic funding. The Committee shall be responsible for presenting an analysis of the budget and other financial matters to the Senate for its review, and the Executive Committee shall forward that review in writing, as adopted by the Senate, to the President and to the Institute Council. The Committee shall serve as liaison for the Senate with the Vice President of Finance and Administration and with other appropriate administrators and administrative policy bodies of the university. The Committee shall consist of eight tenured faculty members, each elected by his or her collegial faculty, one member of the educational development faculty elected by that group, three members at large elected by the Academic Senate, and the Vice President of Finance and Administration or his or her delegate (ex officio, voting).
Charges for AY2017 -
- Investigate the Activity-Based Budgeting and Responsibility Center Management budget models, and develop modifications and processes to align the models with RIT’s needs and philosophies.
- Identify presently available funding, and gaps in funding, for implementation of refined tactics for the prioritized strategic plan. Make recommendations for budgetary prioritization and resource allocation.
- Build a 3-5 member steering committee, who will fully articulate the scope and membership of the Ad Hoc Committee to address the 50th percentile, overload and benchmarking for faculty compensation.