University will adopt a modified version of zero-based budgeting - Luigi Condina, St. Joseph's Hawk

As the rising cost of tuition and economic strain continues to affect institutions of higher education, Saint Joseph's University is refocusing efforts on improving financial efficiency. Departmental non-salary funding, which accounts for approximately 33 percent ($66,000,000) of the university's overall operating budget, is one area that is currently under examination. Faculty and administrators are moving forward with plans to alter the process through which departments receive funding. According to Louis J. Mayer, MBA, vice president for financial affairs and treasurer, St. Joe's will be adopting a modified version of "zero-based budgeting." With the new system, the university will determine the appropriate level of funding for each department. After the initial budget is established, department heads can negotiate with the Office of Financial Affairs to make changes as necessary. Mayer said that conversations regarding zero-based budgeting have been going on for years, but were brought to a close over the summer.