Budget and Finance
The University of Minnesota Crookston traditionally begins the budget planning process for the each fiscal year in November. The process is led by the Chancellor, the director of finance, and the Administrative Cabinet.
As part of the process, the Crookston campus submits a request each year in early spring to U of M Central Administration for additional operations and program dollars to supplement tuition revenues and the campus central allocation. This request addresses critical institutional and unit goals directly aligned with the Crookston campus Strategic Planning Report and actions. Leadership from the Crookston campus meets in person with Central Administration to present the request and answer questions and provide background details. This request is then considered amongst all the other unit requests submitted from throughout the system.
It is important to note that projects and initiatives may be partially funded or be left unfunded at the central level – depending on the number of system requests, system priorities and dollars allocated by the State Legislature.
*In even year cycles, the University solicits Compact requests from system units. The Compact process coordinates planning and accountability to achieve critical institutional and unit goals. The Compact document is a written agreement - available to the public - between the University's management and a campus, college, or support unit that aligns broad University goals with the directions, investments and actions of the unit.
Compacts are used to:
- Identify strategies and partnerships to achieve University-wide goals and priorities using available resources
- Identify areas for investment and/or reallocation
- Update long-range capital and space plans and priorities
- Provide a basis for accountability in evaluating performance.
The annual compact document includes:
- A summary of the unit's progress during the previous year
- Major goals for the coming year(s)
- Action plans to achieve the goals
- Descriptions of key University issues as they affect the unit.