Becoming more strategic in resource allocation at Sinclair Community College
How might we increase operations flexibility, leadership reserves to be more strategic in our resource allocation and financial operations?
- Facilitated decision-making at the lowest level to finalize budget
- Offered top-down guidance (e.g., allocated dollars to expense categories, provide guidance around tradeoffs)
- Allowed budget managers to see the full budget, enhanced decision-making for student success
- Brought department chairs together to discuss resource allocation
- Enhanced data-driven decision-making (e.g., invested in data warehousing to create capability to access data and to drive decisions)
- Explored alternative models as a way to enhance student success goals (e.g., performance-based budgeting)
Sinclair’s high Financial Responsibility Composite Score, a 4.8 of 5.0 according to the Federal Department of Education, is driven by its responsible debt ratio, lack of debt and safe reserves.