the school, including specific reasons why the pro-forma was not be approved and providing the opportunity for the college/school to revise and re-present at the next Committee meeting. If approved, The AVP of Academic Finance will notify requesting department that the school should commence the state and faculty approvals processes as necessary. 5 Pro-forma Timeline, Process Steps and Deliverables The process below outlines the components of developing new academic programs. Specific steps within the faculty governance processes, NY State processes, etc. are not fully included except in reference to the pro-forma process. Timeline Process Step Related Info Input or Approval? Deliverable or Supporting Materials June/July (or any time prior to this, assuming the program would not start until the next fiscal year) Deans (and/or Program Developer) and Budget Reps arrange meeting(s) with Enrollment Management & Admissions Budget Office may be consulted during this step for guidance on discount or retention rates Meeting should focus around the program offering, market viability, enrollment targets (for 1st year and or growth rate), etc. The school should also have thought through a financial aid target to be further solidified in this meeting. Input New Program Business Case Proposal Pro-forma should be partially complete once meeting(s) with EM are over EM should document issues, risks, and recs regarding program “Standard Rates” supporting document will include typical rates (discount, tuition, and retention) that budget reps could reference
June/July (or any time prior to this, assuming the program would not start until the next fiscal year) Deans (and/or Program Developer) and Budget Reps arrange meeting(s) with Financial Aid & OSA Meeting should focus on financial aid implications of program, complexity of program, and needs of OSA/FA to administer program Input New Program Business Case Proposal and (refined as necessary) OSA/FA should document issues, risks, and recs regarding program June/July (Note: If a significant amount of capital is then this entire process must start earlier (Fall or Spring semester) Deans (and/or Program Developer) and Budget Reps arrange meeting with Administration Meeting(s) should define capital needs and “rough order” estimates based on input provided by program Input New Program Business Case Proposal (refined as necessary) Pro-forma updated (specifically Capital tab) ; Should outline capital needs/budget over 5 years and include depreciation Administration should document issues, risks, and recs regarding program
August Deans (and/or Program Developer) and Budget Reps arrange meeting(s) with AVP – Academic Finance; Budget reps revise based on feedback and build a consolidated set of pro-formas for their individual school Finance inquires about revenue and cost estimates; Checks for completeness and reasonable assumptions; Provides guidance on issues or open items in Input Consolidated pro-formas (should include issues, recs, and recommendations identified by supporting departments) August AVP-Academic Finance develops consolidated pro-forma across University This deliverable should be reviewed to understand potential resources needs across schools Input Consolidated university-wide (should include issues, recs, and recommendations identified by supporting departments) August / September AVP – Acad Fin meets with Budget and Planning for initial Budget provides input in terms of issues, risks, and recs; If there is no input to provide, then Budget Office provides that abide by guidelines and are complete Input Budget Office should document issues, risks, and recs regarding program
September AVP – Acad Fin meets with Provost and follows-up with schools/colleges to update if needed Input Updated pro-formas September Preliminary Capital approval in consultation with Finance, provides prelim capital approval for items over $50K Approval Updated pro-formas and communication to the Schools. September 14th Initial sign-off from Provost Initial Approval This deadline is critical for the Budget Office to develop the University Budget October Pro-Forma presented to Review Committee by program for recommendation for approval Rec for Approval Supporting Materials: New Program Business Case Proposal Pro-forma Documented issues, risks, and recs from department meetings