The Budget and Financial Analysis team serves as a reliable resource to individual units in planning, preparing, and monitoring budgets, and works with each unit to close out its books at the end of the fiscal year. They offer budgeting expertise and help the MIT community understand proper use and tracking of funds, provide training on the NIMBUS budgeting tool, and educate staff on how the overall Institute budgeting process works.
Each member of the B&FA team supports a collection of DLCs and develops specific content expertise—for example, in salaries and benefits or tuition and financial aid. This expertise is called upon often, as a major part of the team’s work is providing financial analysis to MIT on a wide range of interrelated financial issues on a recurring and ad hoc basis.
Some recurring assignments are connected to complex decisions that MIT makes every year and require deep analysis and monitoring on ever-changing conditions. Team members serve on committees that determine undergraduate enrollment and tuition rates and advise on the annual endowment payout to the budget. Yearly publications developed by this team include MIT’s annual Budget Book and Internal Report of Financial Results.
In addition, the team addresses many inquiries on an ad hoc basis, providing analytical insights and financial modeling on complex issues that arise from internal or external catalysts driving changes in MIT’s funding, operations, or strategies.
The B&FA team is focused on service to the Institute and strives to provide financial analyses and information to manage its annual budget and address bold plans for the future.