Wichita State prepares an annual long-term budget forecast as a fundamental element of the budget process. The purpose of the forecast is to evaluate current and future fiscal conditions to guide policy and programmatic decisions. The forecast is a fiscal management tool that presents estimated information based on current and projected financial conditions to identify future revenue and expenditure trends that may have an immediate or long-term influence on university policies and strategic goals. The forecast assists in the formation of decisions that exercise fiscal discipline and deliver essential services as an integral part of the annual budgeting process. All information is presented on a budgetary basis.