Budget

This page was last updated Feb. 14, 2025

FY26 Budget Planning: Stabilize. Heal. Transform.

Dear Colleagues,

We stand at a defining moment for Fitchburg State University—one that requires us to shift our mindset from scarcity to possibility, from constraint to creation. We are not here merely to sustain; we are here to build.

The budget is more than a financial document; it is a declaration of our values and our collective ambition. It reflects how we invest in our people, how we expand opportunities for students, and how we secure our future. With that in mind, I want to personally thank each of you for your commitment to our mission and your role in shaping the next chapter of Fitchburg State’s legacy.

Since July 1, our work around university finances has focused on bringing greater transparency and strategic oversight to our fiscal planning. This effort would not have been possible without the work of our Finance team, who have each been instrumental in laying the foundation for a more transparent and strategic financial model. Our team has worked diligently to gain a clear understanding of our complex banking and real estate portfolio, ensuring that we make informed, strategic decisions moving forward. Additionally, we have been preparing to launch a CFO search—a process that requires extensive refinement and level-setting within our financial operations. This work continues, and I am deeply grateful for the guidance and institutional knowledge brought to this process by Heidi Swift, who returned to lend her talents and expertise to move us toward the next step.

While the work is not yet complete, we are proud to outline the FY26 process with a firm commitment to clear priority setting and a forward-looking strategy for growth.

A Commitment to Strategic Growth

For too long, higher education has operated from a place of contraction—cutting, conserving, reacting. That is not our path. Our path is one of deliberate expansion, strategic investment, and bold action.

This means:

Prioritizing People – Our greatest resource is our faculty and staff. The budget reflects our commitment to supporting you as we strengthen our institution.
Growing Enrollment – We are laser-focused on expanding our in-person undergraduate and graduate programs, ensuring that our strategies align with the future we are building.
Investing in Smart, Strategic Change – Every dollar must serve our students and our mission. We will make the necessary investments—not in excess, but in intentional, data-driven growth.
Maximizing Our Assets – We will evaluate university-owned properties to ensure that every asset contributes to our long-term success.

Beginning in FY26, we will no longer have an Extraordinary Budget Request process. This change is not just about eliminating a process but about creating a more effective and transparent approach to budgeting—one that ensures strategic investments are fully integrated into our financial planning. To better align our long-term budgets with our long-term strategic goals, we are ending the Extraordinary Budget Request process in FY26. This shift will allow us to refine our approach over the coming year, ensuring a more nuanced and collaborative budget process by the end of FY26. These non-base-building, one-time funds rarely sustained long-term strategic additions to our portfolio. Instead, we will elevate bold, new program ideas through the Provost’s leadership, ensuring that innovation is embedded in our academic strategy. Dr. Marshall and her team are finalizing a full academic portfolio review with Eduventures, with my full support, now. Other emerging needs will be managed with a clear focus on enrollment growth and student retention, ensuring that every investment directly strengthens the university’s future.

FY26 Budget Submission Guidelines

To ensure clarity and efficiency in this process, all departments should follow these key guidelines:

Baseline Budgeting – Departments should start with a level-funded budget and optimize existing resources before requesting additional allocations.
No Extraordinary Budget Requests – Strategic investments (including Academic Innovation) will be embedded within academic planning and managed with a focus on enrollment and retention.
Personnel Considerations – New positions will be considered based on growth, enrollment needs, and evolving student support requirements. These must go through divisional leadership and be reviewed by Cabinet before my consideration. Full-time salaries remain centrally managed.
Budget Development – All budget development for each cost center will be managed by Cabinet-level leadership and their delegated team leads. Each Cabinet member will be responsible for overseeing and aligning budget submissions within their respective divisions.
Cabinet Leadership – Finance will be available to work one-on-one with divisions to ensure submitted budgets accurately reflect current FY25 actual baseline budgets.
One-Time Needs – These one time needs will continue to be managed centrally on a case-by-case basis through FY26.
Submission Deadline – Budget entries must be completed in Banner by Friday, March 14.
Questions? Please contact your Cabinet-level supervisor or reach out to Heidi Swift at hswift@fitchburgstate.edu or x3131.

A Unified Effort Toward a Stronger Future

I need each of you—not just to manage budgets, but to actively contribute to our shared future. Our success will not be defined by what we lack, but by what we build. This means:

Recruiting students and reinforcing retention efforts
Bringing innovative ideas forward
Working together to make strategic, bold decisions that benefit the entire university

We are not in the business of scarcity. We are in the business of transformation. That requires discipline, yes—but also vision, courage, and belief in what we are creating together.

Board of Trustees Meeting – February 18

I encourage you to join us for the Board of Trustees meeting on Tuesday, February 18, at 1 p.m. in Hammond Hall (also available via live stream). This meeting will include an update on the FY25 budget and an overview of the FY26 planning process. Your engagement in these discussions matters.

Thank you for believing in what we are building. Thank you for your unwavering commitment to our students and to one another.

Onward,

Dr. Donna Hodge
President

FY26 Budget Information

Budget Development Schedule

February 17 (week) – Issue letters, instructions, and budget timeline
February 17 (week) – Department/Division budget Banner data entry opens
March 14 – Budgets Due – Entry complete in Banner, including required documentation for budget requests
March 17 – March 28 – Reconciliation of Banner budget entry with Division Heads
March 31 – April 11 – Cabinet-level leader review of budget submissions
April 14 – April 25 – President’s review of final budget submissions
April 28 – Budget Proposal Package issued for Board of Trustees Finance Committee
May 5 – BOT Finance Committee Meeting – Budget Proposal Review and Vote
May 12 – BOT Meeting – Budget Proposal Review and Vote
May 19 – FY26 Budget Letters issued to Departments

Budget Training and Support

No formal training sessions will be held this year. Instead, deans, directors, and cost center managers should direct budget-related questions to their Cabinet-level leader (President’s direct reports), who will either address them at Cabinet or escalate them to Heidi Swift, Executive in Charge of Finance as needed.

Budget Resources

Virtual Budget Training Video (Requires a Google login and is only for Fitchburg State employees)
Budget Training Slideshow (PPT) (Fiscal 2024)
Department Instructions for Entering Budgets (PDF)
Federal Work Study Proposal Form (MS Excel)

Budgeting Forms

Budget Transfer Form (Dynamic Forms)
Trust Fund Deposit Voucher (PDF)
Revenue and Expense Form (Dynamic Forms)
Revenue/Expense Adjustment Form (MS Excel)

Banner Help

Budget Balances (FGIBAVL) and Detailed Budget Information (FGIBDST) (PDF)
Enter an Online Requisition (PDF)
Run Budget Queries Using Finance Self-Service (PDF)
Enter Budget Transfers in Self Service Banner 9 (PDF)
Budget Transfer Process - Signature Authority (MS Word)
Helpful Budget Banner Screens:
- FGIBAVL (Budget Availability Status Form): This inquiry form provides summary information by a FOAPAL's account pools.
- FGIBDST (Organization Budget Status Form): This inquiry form allows the user to select the FOAPAL in whole or in segments to gather data. This screen also displays detail information and allows the user to drill down to see the documents associated with a particular account.