Dear Colleagues:
In April, I charged a Budget Model Redesign Task Force with rethinking our budget model to better align with our Hopes & Aspirations High. Over the past six months, many of you have dedicated your time and expertise to this critical work. I want to express my sincere gratitude for your contributions as we modernize our budget practices and strengthen our fiscal foundation to achieve our ambitious goals.
The task force established three workgroups - Academic Affairs, Administrative, and Technical – that have developed initial recommendations that address key decision points critical to shaping the new model. These reports have been submitted to the task force and are now currently under review.
To ensure our approach reflects best practices, we have partnered with the Education Advisory Board (EAB). The workgroup reports have been shared with EAB to incorporate insights from national models while tailoring the design to meet TXST’s unique needs. I encourage you to explore EAB’s roadmap to building a budget model to gain a deeper understanding of their framework.
In addition, we are building the necessary data infrastructure to implement and sustain the new budget model, ensuring that we have the tools and processes to effectively manage it.
A set of guiding principles (which include transparency, collaboration, and shared governance) remains at the core of this process. To engage the broader university community, we will host a campus town hall this spring to share updates, to answer questions, and to gather your feedback. In the meantime, we encourage you to visit our budget model redesign website to stay informed about our approach, progress, and the workgroup reports.
Thank you for your continued dedication to advancing our university’s financial sustainability and supporting this important initiative. Together, we are building a stronger foundation for TXST’s future.
Sincerely,
Kelly Damphousse, Ph.D.
President
