2018/2019 Investment Fund for Core Needs

The President’s Cabinet has established an Investment Fund for Core Needs (IFCN) to make available one-time funds to support pressing unbudgeted or under-supported academic / operational / administrative needs, as well as initiatives that will build long-term capacity, such as staff development, investment in infrastructure, and risk management initiatives. The IFCN is not intended to replace a permanent loss of funds or eliminate an ongoing budget gap. 

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Funding is derived from the net-growth in year-end central reserve balances over the prior two years. Annual IFCN levels will be 10% of any net-growth or $250,000, whichever is lower.

A total of up to $250,000 is available in the current budget request cycle for funding in 2018 / 19.

PROCESS

Applications must be submitted through the Investment Funds Proposal MachForm. The application template is also attached for reference. Submitted applications are then forwarded to the unit head (Deans and/or Cabinet members) for prioritization/approval.

  • Cabinet members may submit for consideration up to five prioritized proposals.
  • Schools (with Dean approval) may submit up to the following number of prioritized proposals:
      • School of Business, 3
      • School of Education, Health & Human Services, 4
      • School of Arts & Sciences, 7
  • Schools may submit up to two additional compelling and high priority proposals with Provost approval.
  • Compelling and high priority cross divisional / school proposals require sign-off by the responsible administrative officers (Deans / Cabinet members) and do not count against a Dean’s or Cabinet member's quotas outlined above.
  • Proposals will be reviewed by the Campus-wide Joint Planning and Budget Committee (JPBC).
  • President’s Cabinet, informed by JPBC’s review, will make final funding decisions based on their professional judgement.
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GUIDELINES

  • The IFCN has been established to provide one-time funds to address unanticipated and unbudgeted or under-supported academic / operational / administrative needs, as well as initiatives that will build long-term capacity, such as staff development, investment in infrastructure or equipment, and risk management.
  • Any unit, academic or administrative, can apply for IFCN funding. Cross-unit proposals are encouraged.
  • Proposals must meet clearly documented needs, have identifiable outcomes and include implementation and assessment plans.
      • Consideration will be given to initiatives having a cost sharing component.
      • Proposals should specify why they cannot be self-funded at a division or school level.
  •  IFCN funds may not be used to fund faculty lines of any sort.
  • In general, funds may not be used for faculty and staff stipends. Exceptions to this rule require separate justification and Dean’s Council (for faculty stipends) or Cabinet member (for staff stipends) approval.
      • Authorization by Deans and/or Cabinet members must be indicated at the time of Dean / Cabinet member prioritization/approval/signature.
      • Deans / Cabinet members must indicate if a requested stipend is a legitimate expense (e.g., the work involved falls outside the applicant’s normal job duties) and if the requested stipend amount is reasonable given the work involved. Deans / Cabinet members may suggest an alternate amount. However, Dean / Cabinet member authorization of a stipend request does not guarantee funding.
      • Applicants wishing to include a faculty or staff stipend request in their budget are encouraged to consult with Deans / Cabinet members about the appropriateness of such a request before submitting their application.
      • More information on requesting a faculty stipend can be found in the Dean’s Council Policy on Stipend Requests.
  • All funding requests must include a detailed budget using the Budget Template (in Excel format). Applicants must upload the completed Budget Template with their MachForm application or their application will be considered incomplete.
  • Proposals may include a request for an Internal Loan. Please refer to the Internal Loan Fund for more information.
  • Before submitting an application, applicants should consult with appropriate supervisors regarding the appropriateness of their proposed project and to verify costs.
      • For proposals involving computer technology (e.g., computer software, networking, etc.), applicants must consult with The Chief Technology Officer (Bob Cushman or his designee) and submit with their application evidence of such consultation (e.g., e-mail or letter verifying costs).
      • For proposals involving facilities, applicants must consult with the Director of Facilities & Planning (John Osowski or his designee) and submit with their application evidence of such consultation (e.g., e-mail or letter verifying costs).
  • Because IFCN monies are state dollars, all purchases using IFCN funds must follow state procurement rules and must constitute valid state purchases.
  • Proposals will be evaluated on their alignment with the College’s four strategic goals, the completeness and quality of the written proposal, and the extent to which the request is supported by assessment data.
  • Funded proposals will be required to provide mid-year and year-end progress reports.

Last Updated 11/21/17

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