Office of Budget

Our office is an interactive, high profile area within the Finance & Administration Division at RIT. Our primary responsibility is to develop, implement, and monitor the university's operating and capital budgets. The Budget Office also includes units responsible for financial and administrative support of RIT's Facilities Management Services, Information Technology Services, and RIT’s working capital portfolio.

Capital Budget

Capital projects consist of any building construction or renovation projects for $20,000 or more as well as large purchases of capital equipment. These large projects are authorized by the Board of Trustees and senior management.

budget

 

Capital Budget Process

Capital Project Requests >$20,000 must be submitted by each College or Division to the Budget Office as part of the annual Budget Hearings Process*.  All requests are prioritized by the Budget Committee, made up of the President, Provost and Sr. VP of Finance & Administration, in relation to the university's strategic goals. Only those projects that have been approved by the budget committee are submitted to the RIT Board of Trustees for final approval.

*The Capital/Equipment Project Request Form is used in conjunction with the annual Capital Budget Process. Please note: all projects that require FMS design and construction services must be reviewed and estimated by FMS prior to budget hearing submission.

Approved Capital Project Listing
  • Budget requests for $20,000 or greater construction/renovation projects must be presented by Deans or Vice Presidents to the Budget Committee after consultation with Facilities Management Services.
  • Prior to starting the lengthy and potentially expensive design process required for a detailed budget presentation, "preliminary concept approval" for requests of this nature must be obtained from the Provost and Senior Vice President of Finance and Administration. Facilities Management Services will assist in obtaining this preliminary concept approval.
  • Approval must be obtained for all construction/renovation projects over $20K regardless of funding source.
  • Requests are made as part of the Institute annual budgeting process.
  • Requests for preliminary concept approval can be made at any time and will be "turned around" very quickly.
  • Once preliminary concept approval has been obtained, and dependent upon the complexity of the project and its place in the queue, a six-month lead time prior to the Institute's annual budgeting process may be required by Facilities Management Services to properly assist in the preparation of a budget request. 
  • Once approved through the Institute budgeting process, dependent upon the extent of design work still to be completed and the complexity of the project, additional lead time may be required to complete design and/or bid a project.
  • Facilities Management Services will provide assistance resulting in the following deliverables:
  • A scope document (i.e. narrative or drawings of the proposed space)
  • A range of magnitude estimate of probable project costs
  • If applicable, a proposal from an external consultant to perform sufficient design work to produce a range of magnitude estimate of probable project costs
  • Depending on the size of the project the department may be charged for this design work.
  • The Requestor will be asked to submit the following qualitative and quantitative justification:
    • Description of how this request aligns with the College or Division mission/strategic plan.
    • Description of how this request aligns with the University's mission/strategic plan.
    • Additional known costs other than the construction estimate (e.g. furniture, fixtures & equipment budget and/or anticipated increased operating budget costs)
    • Specifics as to how this space will be used and by whom, including, for example:
      • Courses to be taught, anticipated enrollment and financial benefit to the Institute
      • Titles of individuals occupying offices and current location of same
  • Granting final budget approval shall mean that a not to exceed project maximum has been established.
  • Once bid, the project can be commenced only if the project maximum will not be exceeded; if the bids indicate that the project maximum will be exceeded, the requestor must seek approval for additional funding before the project can commence.

Staff Directory

Ross Koenig headshot
Assistant Vice President Budget and Financial Planning Services
Office of the VP of Finance and Administration
Finance and Administration
585-475-2956
Leanne Hill headshot
Director, Financial Planning and Analysis
Office of the VP of Finance and Administration
Finance and Administration
585-475-4286
Molly Johnson headshot
Financial Reporting Analyst
Office of the VP of Finance and Administration
Finance and Administration
585-475-2077
Christine Monaco headshot
Director University Budgets and Planning
Office of the VP of Finance and Administration
Finance and Administration
585-475-5982
Clarence Turner headshot
Financial and Cost Analyst
Office of the VP of Finance and Administration
Finance and Administration
585-475-7184

 

Wayne Alexander headshot
Senior FMS Business Analyst
Facilities Management Services - Administrative Services
Finance and Administration
585-475-5049
Kate Ostrosky headshot
Facilities Inventory Coordinator
Facilities Management Services - Administrative Operations
Finance and Administration
585-475-6475
Barbara Randall headshot
Project Accountant
Facilities Management Services - Administrative Operations
Finance and Administration
585-475-5916
Michael Yonko headshot
Director Financial and Administrative Operations
Facilities Management Services - Administrative Operations
Finance and Administration
585-475-6138