University Budgets and Strategy: A Survey of Current Practices in Canada

Abstract

There is a growing demand for policymakers to ensure that public funds are being spent wisely and effectively. In Canada, most universities are publically funded and face increased scrutiny and accountability for to show progress, budgets, and plans for the future. As a result, mission and strategy have become important in the post-secondary institution marketplace. There is a body of research that examines the relationship between budgeting and strategic planning but many questions remain, especially in the public sector. Our survey was designed to determine if there is a link between budgeting and strategic planning in universities. Administered to the Vice Presidents - Finance and Administration, our results identify a number of elements in the budgeting process that may lead to enhanced strategic planning. The results may influence choices made in how best to budget and how to relate the budgeting process to strategic planning and funding initiatives. In determining funding and assessing accountability, governments could be interested in a university’s budget model and may consider the budget model as one element to assess the ability of the institution to achieve its strategic goals.

Keywords: Budgeting, University, Survey, Strategic Planning