The Office of University Budgeting supports NJIT’s strategic objectives through a transparent budget development process by identifying, projecting, allocating, and managing the resources available for operating and capital expenditures. We provide high-quality, team-oriented service that anticipates needs, provides appropriate guidance, and produces accurate and timely information, while maintaining a courteous and professional attitude.
- Initiate and coordinate the development of the annual operating budget in a collaborative and transparent process
- On-going analysis of the operating budget including a comprehensive mid-year budget review
- Coordinate the Annual State Budget Submission to the NJ Office of Management and Budget
- Analyze various business proposals for financial viability and provide recommendations to senior administration
- Work with Department Chairs, Deans, Vice Presidents, and Board of Trustees to develop various financial models /analyses that inform managerial decision-making
- Provide access through the EBMS (Executive Budget Management System) to on-demand, up-to-date, managerial reports that inform departments on the status of their operating budgets
- Provide month-end analyses and reports to Senior Staff, raising any budget concerns in a timely manner
- Coordinate and provide Banner Finance training and budget workshops
- Manage security for more than 900 end-users of the Banner Finance module
The FY2016 University budget totals $427.5 million, comprised of a $310.5 Million unrestricted budget and $117 Million in restricted program budgets.
The FY2016 approved budget presentation and tuition and fee schedule, as well as updates about the budget process, are posted on the President's website.