Mission

The College Budget Planning Committee (CBPC) is a campus-wide advisory committee that is a key participant in guiding the College’s budget development process. The committee reviews the operating and capital budgets as well as long-range financial planning models, considers issues that arise during the preparation of the budget, and represents and communicates with the many constituencies of the College. The Provost and the Executive Vice President for Finance & Administration co-chair the committee.

Committee Charge

The CBPC will educate themselves on the budgets and competing pressures for limited resources, the general financial position of the College, and about significant policy and priority aspects of budget decisions in order to recommend general funding priorities to the President and senior leadership for consideration. It will also stay informed of the status of the current fiscal year budget as well as the development of the budget for subsequent fiscal years. The committee may also be asked by the President to review the adequacy of resources allocated to existing programs, and also about the financial implications of proposed changes in programs and the creation of new programs consistent with the strategic plan or priorities.

The CBPC will advise the President and senior leadership team regarding:

  • The establishment of the College’s financial priorities, both short-term and long-term, and ensure their alignment with strategic planning and priorities
  • The development of the College budget processes, particularly relating to financial planning and coordination across the divisions of the College
  • Key assumptions in the annual operating and capital budgets including, but not limited to enrollment management (retention, first year class size, financial aid), tuition, room and board rates, faculty and staff salary increases, fringe benefits, funding for new strategic initiatives, and capital projects

To ensure that those recommendations consider the full range of competing needs across the campus, the committee will always strive to understand those needs and make recommendations that align the College’s operating and capital budgets with Lafayette’s strategic plan and priorities.

The CBPC will prioritize communication with the Lafayette community. Members will represent the voices and values of colleagues and provide avenues to receive input and questions from the campus community. They will also provide timely reports on their recommendations to the President and the College’s financial position to the faculty and staff, and also communicate with the Board of Trustees.

Membership

The CBPC is co-chaired by:

  • Provost
  • EVP for Finance & Administration

The membership is comprised of:

  • Four faculty members, who will serve five-year terms and who are elected to the committee via elections run by the faculty’s Governance Committee
  • The faculty representative to the Board of Trustees’ Financial Policy Committee
  • Five staff members appointed by the President for five-year terms, including one also representing Admin Council

The ex officio members* of the committee are:

  • Assistant Vice President, Budget & Analytics
  • Director of Academic Operations
  • Director of Institutional Research
  • President’s Chief of Staff
  • Senior Director of Athletic Compliance & Student Athlete Development
  • Vice President for Enrollment Management
  • The committee is staffed by the Associate Vice President for Finance and Business, Assistant Vice President Budget and Analytics, and the Director of Institutional Research. Other community members may be asked to meet with the committee on select issues.

Other members of the community may be asked to meet with the committee when their expertise will be helpful (e.g. HR, enrollment, study abroad, senior leadership member, etc.)

While the five-year terms of service are relatively long compared to Lafayette’s normal appointment cycles, the time needed to become reasonably informed about the College’s business processes, and financial matters for higher education more broadly, is considerable. The CBPC’s work benefits greatly from having members who are informed and positioned to make thoughtful recommendations.

Meeting Frequency

Generally, the committee meets frequently as needed but no less than 1x/month. to complete its business. The co-chairs may call additional meetings as appropriate.

Annual Review

The charter and membership will be reviewed annually prior to the start of the fiscal year.

*consists of non-voting membership that inform conversations and provide additional detail