Monthly IBB update
In January 2025, the IBB Executive Committee (EC) and Modeling Working Group, both charged by Provost Tricia Serio, had their first meetings to continue the work of implementing an incentive-based budgeting (IBB) model at the UW. The charge letter and committee membership are available on the website.
Both teams are in level-setting mode, including getting familiar with the current budget model, refining their charters, understanding their goals and mapping out a work plan for the year.
The Modeling Working Group will soon begin data preparation for analysis around how we incorporate cost pools into the budget model as directed by the EC.
This work will include refining model preferences and exploring risks; developing a timeline and transition plan for implementation; and assessing data availability and gaps. All MWG reports and proposals will be reviewed by the EC and ultimately submitted to the Provost and President for their review.