For a better experience, click the Compatibility Mode icon above to turn off Compatibility Mode, which is only for viewing older websites.

Guiding Principles

As part of the redesign initiative, a project Steering Committee was assembled to oversee the new model’s design process and weigh in on the most critical decisions surrounding any new resultant processes and/or policies. This group was co-chaired by the Provost and the EVP for Finance, Treasurer & COO, and included three Deans, the Chair of the Faculty Senate, two college business officers, and other academic and administrative stakeholders. The Committee’s first charge was to develop a set of governing principles to guide the new budget model’s structure, set of incentives, and revenue and cost allocation methodologies. Each of the following principles was considered as all material decisions were made throughout the design process that led to the creation of the “Drexel Model” described at length in subsequent sections of this document.

The five primary principles developed by the Steering Committee state that Drexel’s budget model should:

  • Translate strategic goals into short- and long-term operating plans, focusing on advancement of the University’s academic mission.
  • Utilize equitable methods to align funding with operating plans, while providing justifications for strategic allocations.
  • Ensure that resource management, planning, and allocations are collaborative, data-informed, clear, transparent, and applicable to all funds.
  • Provide academic leaders with clear and fair connections between performance and rewards to ensure accountability and encourage entrepreneurship for University-wide revenue growth.
  • Promote exceptional stewardship over the University’s financial and physical resources, while providing leadership with flexibility to make informed strategic decisions.