University Budgeting

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.

Services Provided:

  • 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 /analysis 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  analysis 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 FY2018 University budget totals $518.8 million, comprised of a $357.0 million unrestricted budget and $161.8 million in restricted program budgets and also includes NJII.

The FY2018 approved budget presentation and tuition and fee schedule, as well as updates about the budget process are posted on the President's website.