Talking Stick - July/August 2009 - 24
business Budget 101: A Journey from Concept to Consumer by Chris McKenzie Willenbrock UNiversity of idaho UNiversity of illiNois at UrbaNa-ChamPaigN Open for business: The University of Idaho (L) and the University of Illinois at UrbanaChampaign (R). Say the word “budget” and likely the first thought will be balancing a checkbook or poring over online account information. For most people, maintaining a personal budget involves the delicate balancing of income with expenses. Beyond that, however, personal budgets vary according to salaries, types of expenditures, size and location of households, and financial priorities. The same can be said for housing budgets. Each institution utilizes a budget to maintain a balance between revenue and expenditures; however, budgets vary according to occupancy, unique expenditures, institution size and location, and departmental priorities. This begs the question: If no two housing budgets are the same, how can an efficient budget be created and maintained year after year? The answer: Departments must acknowledge that budgeting is a process, a journey that begins with guiding concepts, develops into concrete figures, and concludes by meeting consumer needs. tHe buDget as ConCept Ask any chief housing officer about the budget process, and many will begin not with the numbers, but with the big picture – the strategic plan. Jack Collins, director of university housing at the University of Illinois at Urbana-Champaign, has offered numerous workshops and sessions on the budgeting process, and during each he stresses that the budget should be used as a strategic instrument. “A budget should start as more of an abstract concept. The strategic plan and mission are used to identify priorities, and then resources can be allocated.” Ultimately any housing budget should be in line with the department’s mission and/or strategic plan. (See “Mastering the Mission Statement” on page 25.) These guiding principles can help ground financial decisions while illustrating the relevance and importance of the work being done. If something is touted as a priority, this should be reflected on paper in the budget. In essence, a budget should be transparent, reflecting the values of a housing department. 2 Talking STick
Talking Stick - July/August 2009
Table of Contents for the Digital Edition of Talking Stick - July/August 2009
Talking Stick - July/August 2009
Contents
Online Now
Vision
Just In
Your ACUHO-I
Transitions
Res Life
Facilities
Business
Calendar
The Other Side of the Street
Courting Change in Judicial Affairs
Conversations
First Takes
Reporting Out
Welcome
Snapshot
Talking Stick - July/August 2009 - BB1
Talking Stick - July/August 2009 - BB2
Talking Stick - July/August 2009 - Talking Stick - July/August 2009
Talking Stick - July/August 2009 - Cover2
Talking Stick - July/August 2009 - 1
Talking Stick - July/August 2009 - 2
Talking Stick - July/August 2009 - Contents
Talking Stick - July/August 2009 - Online Now
Talking Stick - July/August 2009 - 5
Talking Stick - July/August 2009 - Vision
Talking Stick - July/August 2009 - 7
Talking Stick - July/August 2009 - Just In
Talking Stick - July/August 2009 - 9
Talking Stick - July/August 2009 - 10
Talking Stick - July/August 2009 - 11
Talking Stick - July/August 2009 - 12
Talking Stick - July/August 2009 - Your ACUHO-I
Talking Stick - July/August 2009 - Transitions
Talking Stick - July/August 2009 - 15
Talking Stick - July/August 2009 - Res Life
Talking Stick - July/August 2009 - 17
Talking Stick - July/August 2009 - 18
Talking Stick - July/August 2009 - 19
Talking Stick - July/August 2009 - Facilities
Talking Stick - July/August 2009 - 21
Talking Stick - July/August 2009 - 22
Talking Stick - July/August 2009 - 23
Talking Stick - July/August 2009 - Business
Talking Stick - July/August 2009 - 25
Talking Stick - July/August 2009 - 26
Talking Stick - July/August 2009 - Calendar
Talking Stick - July/August 2009 - The Other Side of the Street
Talking Stick - July/August 2009 - 29
Talking Stick - July/August 2009 - 30
Talking Stick - July/August 2009 - 31
Talking Stick - July/August 2009 - 32
Talking Stick - July/August 2009 - 33
Talking Stick - July/August 2009 - 34
Talking Stick - July/August 2009 - 35
Talking Stick - July/August 2009 - Courting Change in Judicial Affairs
Talking Stick - July/August 2009 - 37
Talking Stick - July/August 2009 - 38
Talking Stick - July/August 2009 - 39
Talking Stick - July/August 2009 - 40
Talking Stick - July/August 2009 - 41
Talking Stick - July/August 2009 - 42
Talking Stick - July/August 2009 - 43
Talking Stick - July/August 2009 - 44
Talking Stick - July/August 2009 - Conversations
Talking Stick - July/August 2009 - 46
Talking Stick - July/August 2009 - 47
Talking Stick - July/August 2009 - 48
Talking Stick - July/August 2009 - First Takes
Talking Stick - July/August 2009 - Reporting Out
Talking Stick - July/August 2009 - 51
Talking Stick - July/August 2009 - 52
Talking Stick - July/August 2009 - 53
Talking Stick - July/August 2009 - Welcome
Talking Stick - July/August 2009 - 55
Talking Stick - July/August 2009 - Snapshot
Talking Stick - July/August 2009 - Cover3
Talking Stick - July/August 2009 - Cover4
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20190506
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20190304
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20190102
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20181112
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20180910
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20180708
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20180506
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20180304
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20180102
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20171112
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20170910
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20170708
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20170506
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20170304
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20170102
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20161112
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20160910
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20160708
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20160506
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20160304
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20160102
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20151112
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20150910
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20150708
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20150506
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20150304
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20150102
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20141112
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20140910
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20140708
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20140506
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20140304
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20140102
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20131112
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20130910
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20130708
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20130506
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20130304
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20130102
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20121112
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20120910
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20120708
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20120506
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20120304
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_201201
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20111112
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20110910
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20110708
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20110506
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20110304
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20110102
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20101112
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20100910
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20100708
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20100506
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20100304
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20100102
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20091112
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20090910
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20090708
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20090506
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20090304
https://www.nxtbook.com/nxtbooks/acuho/talkingstick_20090102
https://www.nxtbook.com/nxtbooks/acuho/talkingstick1108
https://www.nxtbook.com/nxtbooks/acuho/talkingstick0908
https://www.nxtbook.com/nxtbooks/acuho/talkingstick0708
https://www.nxtbook.com/nxtbooks/acuho/talkingstick0508
https://www.nxtbookmedia.com