PSU: “Dec.7 informational town hall event to explain budget allocation model”

[BobPSU92]

See the link below. From the article:

”UNIVERSITY PARK, Pa. — Penn State President Neeli Bendapudi will host an online informational town hall event at 9 a.m. on Dec. 7 at LiveEvents.psu.edu to share updates and an overview of the process to develop a new University budget allocation model.

Members of Penn State’s budget allocation model working group, which includes leaders and experts from across the institution, will discuss the University’s effort to modernize and transform its budgeting process. While the new model and allocations won’t be shared during the conversation, the meeting will provide a high-level overview of the model, background about the decision-making process and how the budget allocation model was developed.

The new budget allocation model will be used to determine the amount of funding — primarily from tuition and state funding — that the University allocates to administrative and student-supporting central units, colleges and campuses. Annually, Penn State provides an allocation to each campus, college and unit, which budget executives use to develop their areas’ budgets. The new budget allocation model will be implemented beginning in July 2023 for the upcoming fiscal year and is part of a broader effort by Penn State to achieve a balanced budget by 2025.“

https://www.psu.edu/news/administration/story/dec7-informational-town-hall-event-explain-budget-allocation-model/

Penn State has a budget? Who knew?

 

[91Joe95]

 

[BobPSU92]

Exactly what came to mind when I saw the date.

 

[Bob78]

I thought it was all fungible anyway....

 

[Nittany1865Farmer]

"achieving a balanced budget by 2025". Don't universities already plan out that far ahead normally? Everyone knows what is going to be sacrificed on the altar of the Ivory Tower: and it won't be upper management either...

 

[BobPSU92]

"achieving a balanced budget by 2025". Don't universities already plan out that far ahead normally? Everyone knows what is going to be sacrificed on the altar of the Ivory Tower: and it won't be upper management either...

Hiring freeze, except for…

 

[ApexLion]

See the link below. From the article:

”UNIVERSITY PARK, Pa. — Penn State President Neeli Bendapudi will host an online informational town hall event at 9 a.m. on Dec. 7 at LiveEvents.psu.edu to share updates and an overview of the process to develop a new University budget allocation model.

Members of Penn State’s budget allocation model working group, which includes leaders and experts from across the institution, will discuss the University’s effort to modernize and transform its budgeting process. While the new model and allocations won’t be shared during the conversation, the meeting will provide a high-level overview of the model, background about the decision-making process and how the budget allocation model was developed.

The new budget allocation model will be used to determine the amount of funding — primarily from tuition and state funding — that the University allocates to administrative and student-supporting central units, colleges and campuses. Annually, Penn State provides an allocation to each campus, college and unit, which budget executives use to develop their areas’ budgets. The new budget allocation model will be implemented beginning in July 2023 for the upcoming fiscal year and is part of a broader effort by Penn State to achieve a balanced budget by 2025.“

https://www.psu.edu/news/administration/story/dec7-informational-town-hall-event-explain-budget-allocation-model/

Penn State has a budget? Who knew?

 

[PSU12046]

See the link below. From the article:

”UNIVERSITY PARK, Pa. — Penn State President Neeli Bendapudi will host an online informational town hall event at 9 a.m. on Dec. 7 at LiveEvents.psu.edu to share updates and an overview of the process to develop a new University budget allocation model.

Members of Penn State’s budget allocation model working group, which includes leaders and experts from across the institution, will discuss the University’s effort to modernize and transform its budgeting process. While the new model and allocations won’t be shared during the conversation, the meeting will provide a high-level overview of the model, background about the decision-making process and how the budget allocation model was developed.

The new budget allocation model will be used to determine the amount of funding — primarily from tuition and state funding — that the University allocates to administrative and student-supporting central units, colleges and campuses. Annually, Penn State provides an allocation to each campus, college and unit, which budget executives use to develop their areas’ budgets. The new budget allocation model will be implemented beginning in July 2023 for the upcoming fiscal year and is part of a broader effort by Penn State to achieve a balanced budget by 2025.“

https://www.psu.edu/news/administration/story/dec7-informational-town-hall-event-explain-budget-allocation-model/

Penn State has a budget? Who knew?

 

[BobPSU92]

Bump. Call starts in seven minutes. I can’t join due to a work call.

 

[StamfordBridgeVikingatLeftOffensiveTackle]

It started!

 

[StamfordBridgeVikingatLeftOffensiveTackle]

"How are we going to slice up that pie?"

"We value you. I value you. Immensely."

She is more convincing and decisive with the teleprompter than our last president who is now a high paid consultant to our current president.

 

[PSUFTG]

Penn State Admins giving 'Town Hall" on changes to Budget Model.You can tune in here:

Live Events – (psu.edu)

 

[StamfordBridgeVikingatLeftOffensiveTackle]

Turning to local experts instead of hiring outside consultants. Have at it Professor Cheslock!

 

[PSU12046]

I have my Bingo Card out from above!

 

[StamfordBridgeVikingatLeftOffensiveTackle]

Penn State Admins giving 'Town Hall" on changes to Budget Model.You can tune in here:

Live Events – (psu.edu)

It's "data driven" and "truly collaborative," Barry. We await your analysis and hope that you're one of the "local experts" chosen to collaborate instead of outside consultants.

 

[PSUFTG]

I should mention - for those who couldn't tune in LIVE, the presentation is being archived, and should be available quickly (like, later this afternoon) and remain posted on the website linked above.

 

[Chatz5531]

 

[StamfordBridgeVikingatLeftOffensiveTackle]

I should mention - for those who couldn't tune in LIVE, the presentation is being archived, and should be available quickly (like, later this afternoon) and remain posted on the website linked above.

It's worth the listen. Whatever one's opinion is of the content, this president is quite a bit better organized and more adept at the presentation part of things. She is comfortable delivering a message, and she's in charge. The previous president, who is now a paid consultant to the current president, always seemed skeptical of what he was saying.

 

[StamfordBridgeVikingatLeftOffensiveTackle]

These admins are so optimistic. I'm getting pumped up for the balanced budget of 2025!

 

[PSU12046]

So, I believe Sara (after all her corporate gipperish) is saying that PSU is increasing salaries across the board (3-4%) and increasing tuition to offset that cost.

 

[StamfordBridgeVikingatLeftOffensiveTackle]

"Good times ahead." I'm sold.

 

[PSU12046]

"Good times ahead." I'm sold.

We have to wait until July 2023 until the Allocation Model is resolved . . .

 

[WVilleLion]

To be fair to new president, we know that office has been filled with jokers since at least late 2011. I cannot imagine following those two crappy empty suits.

 

[StamfordBridgeVikingatLeftOffensiveTackle]

To be fair to new president, we know that office has been filled with jokers since at least late 2011. I cannot imagine following those two crappy empty suits.

She is so much more prepared to at least try than either one of those guys. Makes you wonder what the conversations are between the current president and the former president, who is now a paid consultant to the current president, are like.

 

[BobPSU92]

She is so much more prepared to at least try than either one of those guys. Makes you wonder what the conversations are between the current president and the former president who is now a paid consultant to the current president are like.

So We Are Better?

 

[StamfordBridgeVikingatLeftOffensiveTackle]

So We Are Better?

We will be, Bob! We will be!

 

[Bison13]

So, I believe Sara (after all her corporate gipperish) is saying that PSU is increasing salaries across the board (3-4%) and increasing tuition to offset that cost.

If it wasn't already, I believe that 3% will push tuition alone to over $20K for a year at PSU. 13K for room and board and you have 33K for one year, ugh

 

[BobPSU92]

Penn State Admissions:

”Give me your tired, your poor wealthy,
Your huddled masses yearning to breathe free,
The wretched refuse of your teeming shore.”

Yes, they see us, and people who look like us, as wretched refuse.

 

[GrimReaper]

She is so much more prepared to at least try than either one of those guys. Makes you wonder what the conversations are between the current president and the former president, who is now a paid consultant to the current president, are like.

Makes one wonder whether there are any conversations between the current president and the former president.

 

[BobPSU92]

Makes one wonder whether there are any conversations between the current president and the former president.

Of course there are. Otherwise, why would Penn State pay barren $900k/year?

 

[J.E.B]

Saw Barron and Molly in town on the weekend before Thanksgiving… just wondering around on Beaver by Local Whiskey.

 

[TiogaLion]

If it wasn't already, I believe that 3% will push tuition alone to over $20K for a year at PSU. 13K for room and board and you have 33K for one year, ugh

That's freshman year, but you forgot books, fees, etc. which will add about $3,000 to the bill. Oh, and some having "fun" money is also required. The quoted tuition is 1st year only and goes up depending on year and major. Plan on spending about $37,000 the first year and add a grand or two for each year thereafter for in-state students.

 

[GrimReaper]

Of course there are. Otherwise, why would Penn State pay barren $900k/year?

I can think of a number of reasons and all of them involve distance from Old Main.

 

[BobPSU92]

I can think of a number of reasons and all of them involve distance from Old Main.

Neeli on day one (and every day since):

*sniff* *sniff* ”What’s that smell?!”

 

[StamfordBridgeVikingatLeftOffensiveTackle]

Neeli on day one (and every day since):

*sniff* *sniff* ”What’s that smell?!”

 

[WVilleLion]

Makes one wonder whether there are any conversations between the current president and the former president.

She is probably thinking: “why the f did they think I need any consultation from this empty suit?” And, “who the f balls did he kiss to get paid another year for doing basically nothing except bothering me?”

 

[GrimReaper]

She is probably thinking: “why the f did they think I need any consultation from this empty suit?” And, “who the f balls did he kiss to get paid another year for doing basically nothing except bothering me?”

And, "I don't know what's a bigger pile of ****, Fat Eric of the fu@king mess I inherited from him?"

 

[Bwifan]

Of course there are. Otherwise, why would Penn State pay barren $900k/year?

PSU laughs at budgets... Tuition will kept being raised to cover whatever additional monies are needed...

 

[PSUQbKeeper]

did they get to the part yet where employees working from home will now have snow days off with full pay?

that just seems kind of funny, don't want them risking walking to the computer when its bad outside

 

[BobPSU92]

Event recap:

https://www.psu.edu/news/administration/story/penn-state-leaders-provide-overview-budget-allocation-model-town-hall/

”Penn State’s previous budget model, called an incremental budget model, made small changes year over year and is not informed by current data.

“Our current model is outdated,” Thorndike said. “Many of our peer institutions have moved away from incremental budget models to something that’s more data driven, like we’re moving toward.”

The new budget allocation model — which will be shared with the Penn State community early next year — will be implemented in July 2023 for the upcoming fiscal year, and is part of a broader effort by Penn State to achieve a balanced budget by 2025.

The model won’t inherently balance the budget but will help the University in long-term planning and in prioritizing key priorities such as student success; research; diversity, equity, inclusion, and belonging, and more.”

Sounds like Penn State is behind its peers. No matter. They have heaping piles of got-thisness on the case now.