Following the examples of peer institutions like the university systems of Delaware and Michigan, UVM is making a major move to directly link its resources with the strategic plans of the University’s colleges and schools.
The new budgeting system, called Incentive Based Budgeting (IBB), would encourage departments to find new ways to bring in revenue and boost student retention, while also allowing them to keep part of what they bring in, said Provost David Rosowsky, who joined UVM’s administration in August.
“We are trying to empower the colleges and schools to develop and manage their resources strategically and efficiently,” Rosowsky said. “We are not looking for or trying to single out departments that are