OD: Zero-Based Budgeting: Linking Expenditures to Strategic Goals
Recorded on: Wednesday, November 2, 2011 1:00 PM ET
After confronting several serious issues under its previous budgeting system, including effectiveness of funding to meet strategic goals and efficiency of spending, administrators at Colorado Mountain College decided to improve budget development for all campuses and central services by implanting a modified version of zero-based budgeting. Under zero-based budgeting, expenditures must be justified, and significant documentation and data review is required.
Additionally, all expenditures must advance the college’s goals. Discuss how the zero-based system more closely aligns funding with the strategic plan and provides transparency in budgeting. Find out how the new system offered an opportunity to identify best and worst practices across the college.
What You Will Learn
- Learn how to more closely tie resource allocation to strategic planning.
- Hear how the college used Excel as a budget analysis tool, while still using the budget module within its Datatel system.
- Find out how to uncover best practices and hidden costs in your institution.
Meet the Presenters
- Linda English, chief financial officer, Colorado Mountain College
- Mary Lehrman, budget manager, Colorado Mountain College
- Steve Boyd, purchasing and contract manager, Colorado Mountain College
- Moderator: Sue Menditto, director, accounting policy, NACUBO
Who Should Attend?
- Chief financial officers
- Budget directors/managers
- Purchasing officer
- Accounting staff
Course Level: Intermediate
Length: 100 minutes
FeesMember Site Fee: $189.00
Non-Member Site Fee: $219.00
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