In an earlier post, we advised that Sheridan is embarking on a process to develop a new resource management model called Activities Based Budgeting, or ABB.
ABB has been widely adopted by postsecondary institutions throughout North America. Under ABB, revenues generated by units of an organization are allocated directly to the unit responsible for the activity. ABB has been shown to provide greater transparency into the budgeting process and to create incentives for units to more effectively manage their resources and expenditures.
Sheridan has partnered with the management consulting firm Campus Strategies LLC to help us move forward in implementing ABB. Last week, four information sessions were held at our three campuses hosted by Larry Goldstein, our lead consultant. In these sessions, Larry provided a detailed overview of ABB and the principles that inform it.
If you were unable to attend one of the sessions, and would like to better acquaint yourself with the ABB model, Larry has kindly provided his Powerpoint slides. You can view them here.
The next step in this process is the creation of an ABB Task Force that will work collaboratively to determine the principles and model for an ABB framework that is specific to Sheridan. It is anticipated that this Task Force will be formed in the fall, and will include faculty, staff, administrators and students.
We will provide you with regular updates as this initiative moves forward.
Janet Morrison
Provost and Vice President, Academic
Wayne Steffler
Vice President, Finance and Administration