The Budget Transformation Initiative is an important project that will support and enable the university's strategic goals of developing a budget that reflects Rice’s values. This effort is led by Provost Amy Dittmar, Executive Vice President for Finance and Administration Kelly Fox, and Deputy CFO Katrina Spencer. The academic mission will guide the initiative. A new budget model will provide increased transparency while building incentives into the budget model to support schools’ and administrative units' increased ability to understand and leverage opportunities, growth, possibilities, and outcomes. The project is currently in the Model Design phase, which includes multiple opportunities to learn more about the current budget and various budget models that other universities have implemented.
- This is a university-led, consultant-supported engagement.
- The project is led by a partnership between the Provost and the Vice President for Finance and Administration.
We will begin implementing a new budget model by the start of the fiscal year 2025 (July 1, 2024). Throughout the initiative, there will be many opportunities to provide feedback (budgettransformation@rice.edu), engage with the project team and learn more about Rice’s financial structure.