formerly known as Budget Review Team (BRT)

 

The Strategic Financial Planning Team (SFPT) is the fiscal oversight and planning committee for Loyola University Chicago.  It is primarily responsible for developing the university’s annual operating budget, which includes making recommendations for tuition and fee rates, enrollment projections, housing and food service occupancy and rates, any annual merit pool for faculty and staff, auxiliary services, and financially material changes to employee benefits.  The SFPT membership solicits input and recommendations from key university leaders in many of these areas to better understand the rationale and form recommendations that are achievable and aligned with Loyola’s Jesuit and Catholic identity.  Throughout the year, the SFPT will also engage with subject matter experts in areas such as risk and insurance, internal audit, research services, and select academic deans to understand and appreciate financial trends both within Loyola and across the higher education landscape.

 

While the SFPT discusses and votes on a variety of financial issues over the year, the President of the University can either accept or amend actions by the SFPT.

 

Membership of the SFPT consists of individuals whose roles and responsibilities contribute to the University’s financial health.  The Sr. Vice President and Chief Financial Officer and Chief Business Officer typically chairs the SFPT.

 

The SFPT typically meets twice monthly during the later summer and fall semester and monthly – or as needed – during the remainder of the fiscal year.