A Budget Model is a quantitative system or approach used to support resource management within an institution. Budget models are not financial accounting systems and neither create nor diminish capacity. The budget model is a management tool and the university community must understand the model, be willing to operate within its parameters, and have planful discussions with academic and administrative leadership to realize the benefits it is designed to provide. Note: the budget model at UVA is called UFM (see UFM definition).
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