Board of Trustees Budget Approval Processes at Private Institutions

Communicating Relevant Peer Benchmarking Data to the Board of Trustees

Topics: Budgeting, Administration and Finance, Executive Dashboards, Data Driven University

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Research Questions

  • What is the role of the Board of Trustees in the budget approval process at peer institutions?
  • What level of detail does the Provost’s office provide to the Board in budget documents at each approval phase (e.g., capital planning, allocations for each school/college, and strategic planning)?
  • What benchmarking information do peer institutions provide to the Board in order to enhance the context for assessing and approving the budget?
  • What limitations and challenges do peer institutions face when communicating benchmarking information to the Board?

Summary

In order to enhance the context for assessing and approving the budget, administrators typically provide internal and external benchmarking information to the Board of Trustees. This report examines the role of the Board of Trustees in the budget approval process at private institutions, the level of detail provided to the Board in budget documents, including peer benchmarking data, and limitations or challenges faced when communicating with the Board.