FY2022 Funds pie chart

RMM

Iowa State University utilizes a decentralized financial management model for the development of its annual operating budgets. The Resource Management Model, a responsibility-centered and incentive-driven approach to financial planning and management, is utilized for the development of the university's General University Fund operating budget.

Background

Due to the dynamic environment in higher public education, budget leaders at Iowa State University worked with the university community to develop an alternative budget model that would be more flexible and responsive to the needs of the university.  On Jan. 24, 2007, President Geoffroy decided that Iowa State University will adopt the Resource Management Model, which was developed through a series of university committees with broad feedback from the university community.  The historical details on the development and implementation of the Resource Management Model are available upon request.