Budget Planning as a Strategic Priority
How OMB & OFA Play Different Yet Critical Roles in UAF Budgeting
Adapted from the National Association of College and University Business Officers (NACUBO).
|Who Does What?
||Management & Budget
||Finance & Accounting
|Responsibilities||Managerial analysis, decision support, and process improvement||Financial accounting|
||Assessment process||Report card|
|Required by FASB/GASB?||No||Yes|
|Finance, economics, quantitative methods, project planning, and management||GAAP|
|Scope||All-inclusive, focus on elements||Entity-wide|
|Emphasis||Data flexibility and relevance||Data accuracy and timeliness|
Established in 2012, OMB serves as the budget development, analysis, and strategic management arm of Financial Services.
OMB is also the home of UAF Process Improvement, and spearheads process mapping and improvement implementation plans, in an effort to understand business complexities and facilitate efficiencies.
OMB collaborates with UAF Office of the Provost, Financial Services, and Planning, Analysis, and Institutional Research (PAIR) to produce and interpret data and reports necessary for UAF leadership to make strategic resource allocation decisions. OMB strives to build relationships with schools, colleges, institutes and administration in order to understand the business of UAF and provide useful reports and tools to campus leaders.