Martha K. Hirst, senior vice president, chief financial officer, and treasurer of Fordham, will share insights into the University’s budget process at a pair of forums open to all members of the Fordham community this month.
The events, which follow a similar pair held in the fall, are meant to demystify the revenues and expenditures within the University’s budget, which in the 2018 fiscal year was $791 million.
The format will be similar to the forums held November, but this time, Hirst plans to also address next years’ budget, which was approved by the Board of Trustees last month. She said she hoped this years’ gatherings will facilitate a baseline understanding of the budget process so that next year, panel discussions can delve even more deeply into specific areas.
“We talked a lot in the fall about building a budget, what goes into the decision-making around it, what our critical expenses are, what our discretionary expenses are, and how we think the budget’s going to flow in the course of the year, with enrollment always the uncertainty,” she said.
“So part of the discussion is to say ‘Well, it’s almost the end of fiscal year ’18. How’d we do?’ And then to turn our attention to next year.”
Ultimately, Hirst said it’s helpful to think of a budget as an organism that evolves over time and as a tool the University uses to accomplish its objectives.
“Whether it’s your family budget or your institutional budget, it’s always helpful for folks in the mix to understand it and understand the resources inside and out,” she said.
Spring Budget Forums:
Monday, May 14
3 p.m.
Flom Auditorium, Walsh Family Library, Rose Hill Campus
Tuesday, May 15
11:30 a.m.
McNally Amphitheatre, Lincoln Center Campus
RSVP: ajowallace@fordham.edu or 718-817-3120
