Budget Model Redesign Timeline

Following the formation of the new university-level budget model, the IU Bloomington budget model is being designed in three phases: Conceptual, Prototype, and Functional. Please note that the new budget model will not be implemented on the Bloomington campus until FY 2027.  

1. The Conceptual Model is the basic methodology and incentive structure for how income and expenses will be allocated. It will continue to evolve, adapting to stakeholder feedback and data results. 
2. The Prototype Model refines the conceptual model through scenario modeling. It will be adjusted as the impacts of various components are more fully understood through predictive modeling and ongoing feedback from campus constituencies. 
3. The Functional Model will be implemented for the FY 2027 budget year (starting July 1, 2026). It will also be refined periodically based on continuous feedback. 

Budget Model redesign timeline

Conceptual Model: FY 2025 (fall 2024, spring 2025, summer 2025) Steering Committee identifies guiding principles for the Budget Model and develops the conceptual model. The Conceptual Model is shared with campus constituencies, and feedback is collected for review by the Steering Committee. 

Prototype Model: FY 2026 (fall 2025, spring 2026, summer 2026) The Office of Finance, Administration & Budget conducts ongoing predictive modeling and scenario-building to refine the conceptual model formulas into a prototype model. The Prototype Model runs parallel to the existing IUB Budget Model to assess impact and further refine the model’s components. Resources are developed for training and transitioning to the new model. 

Functional Model: FY 2027 (fall 2026, spring 2027, summer 2027) The Functional Model is implemented for FY 2027 across the campus, including a transition plan for easing units into the new model where needed. A robust set of training opportunities and resources familiarize campus constituencies with the new model, including training materials and workshops for fiscal staff and academic leadership. A new Budget Model Financial Advisory Committee reviews findings from the ongoing feedback loops.