Board of Regents discusses new budget model, recognizes student scholars

Matt Smith, a member of the Huron Consulting Group, gives a presentation on how a new budget model for WKU. 

Emily DeLetter

A potential budget model for WKU was presented at the Board of Regents meeting today.

The Resource Allocation, Management and Planning (RAMP) was presented to the board by the Finance and Budget Committee as a potential model for WKU’s budget.

According to a report at the meeting, effective resource allocation “leads to the distribution of useful information, data-informed decisions, and the effective utilization of institutional resources.”

WKU partnered with Huron Consulting Group to come up with RAMP. Huron offers management consulting in higher education, health care, life sciences and commercial industries.

Although the RAMP structure was presented, Senior Vice President for Finance and Administration Ann Mead said WKU’s budget model will not be ready until she can “engage with new deans and the provost.”

Mead estimated they were more than halfway finished with the new budget model. Both the steering committee and the joint budget council are involved in the process.

“It’s an intense, important process,” Mead said.

Mead said an open forum on campus for the model will be held in early May, with a panel discussion following in June. Representatives of universities that transitioned to the resource allocation model will make up the panel to give WKU an idea of how the transition took place.

Additionally, 10 scholars were recognized at the meeting through the Office of Scholarship Development for recently received awards.

Recipients included Student Regent and Student Government Association President Andi Dahmer, the first WKU student to become a Harry S. Truman Scholar.

“What a great day to be a Hilltopper,” Regent Julie Hinson said.

President Timothy Caboni also expressed his “congratulations and individual pride” in the scholars.

“There is no better example of the fact that this institution remains one of opportunity and access,” Caboni said.

News reporter Emily DeLetter can be reached at 270-745-6011 and [email protected] Follow her on Twitter at @EmilyDeLetter.