President approves next steps in exploration of new budget model

President & Vice-Chancellor Mamdouh Shoukri announced today his support for proceeding with the next stage of the PRASE Working Group on Budget Modeling (WGBM) work. In early May, on the basis of reviewing recent trends in university budget modeling, the WGBM recommended a framework for the development of new budget model for the University – SHARP (Shared Accountability and Resource Planning Model) and undertook a six-week consultation with the York community. The feedback was constructive and provided strong support for moving forward. The WGBM has incorporated the input in the final Stage 1 Report and Shoukri is granting approval for the WGBM to begin Stage 2 work.

“I would like to thank everyone who took the time to participate in the community consultation process. The valuable feedback and suggestions received will help shape Stage 2 work and provided many important elements for consideration,” said Shoukri.

Based on the president’s approval, and with the full support of executive sponsors Vice-President Academic & Provost Patrick Monahan and Vice-President Finance & Administration Gary Brewer, the WGBM is now moving forward with SHARP – Stage 2, a further and deeper exploration of the recommended new budget model. “It is clear from the community consultations that there are still a number of elements of the new model that need to be developed and discussed, as we formalize the conceptual model to meet York’s specific budget and planning needs,” said Vice-Provost Academic & Co-Chair of the WGBM Rhonda Lenton. “These include the need to balance the advancement of the University’s organizational and academic goals, while still adequately supporting non-revenue generating units; as well as the development of a clear accountability framework essential for the successful implementation of SHARP,” Lenton continued.

“We need to ensure that we have a financially sustainable institution. I believe that SHARP will help us reach that important objective, but we still have a long way to go and a lot more work to do,” Shoukri added. “Community guidance will continue to play a big part in helping shape future deliverables for the WGBM and I have asked the Working Group to maintain its commitment to community involvement and transparency throughout the process.”

To view the Stage 1 Report and the Community Information Session presentation and video, click here. The PRASE executive sponsors will be providing an update on the details of Stage 2 in July, including the Terms of Reference and anticipated timelines, and there will be further consultation opportunities with the community as the new budget model progresses.