Strata’s Axiom™ Allocations solution empowers higher  education leaders to develop allocations of revenue and expenses to support the annual budget process. These capabilities are critical for universities that analyze margins at a school/program level or run a responsibility centered management (RCM) budget model. The data associated with budget allocations are stored in Axiom’s centralized database for efficient reporting and analysis, and can be easily rolled over from year to year. Once allocations are calculated, the data directly integrate into the departmental budgeting process, reducing effort and speeding the budget process.

 

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Manage complex allocation rules and associated metrics (e.g., FTE, square footage, student credit hours, major, minor, etc.)

 

Increase data transparency for allocation rules across the institution

 

Provide a cost allocation mechanism for indirect expenses

 

Automatically incorporate allocation calculations into departmental budgeting processes

Manage Complex Resource Allocation Methods

Axiom Allocations supports both metrics-based and incremental-based allocations. 

Metrics-Based Allocations

Resources are distributed based on trend data for any number of metrics including, but not limited to, enrollment, credit hours, FTE, research funding, and square footage. This method allows resource allocation to flex based on shifts in university metrics.

Incremental-Based Allocations

Start with a base, either last year’s budget or actuals, make central driver-based assumptions for growth, and pair that with department-driven budget requests for additional funding to support strategic initiatives. 

Track Data to Increase Transparency

Axiom Allocations improves transparency, data integrity, and financial accountability across the institution. With a range of reports that track allocation rules, colleges and universities can increase trust and gain buy-in for the RCM model:

  • Metric Reports – View RCM metrics for Responsibility Centers

  • Drill-Down Reports – Drill into the details of metrics by Responsibility Center

  • Allocation Reports – Easily create, manage, and view results of allocation model

  • Shadow Income Statements – Provide units with a comparison view of the RCM allocation model versus previous budget model

 

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An Allocations Solution Built on Industry Best Practices

Strata’s Axiom™ Higher Education Suite delivers industry best practices in a flexible, easy-to-use software to help you overcome challenges and fuel your mission. Inspired by years working in university finance roles, we have designed our software to deliver strategy-based performance solutions that help you think boldly and surpass your goals. Top institutions across the country rely on our performance solutions to manage billions in revenue and endowments.