The following procedure has been developed for the distribution of funds generated by the release of faculty to participate in externally funded grants and contracts. This funds distribution procedure has been implemented to encourage growth in the extent of externally funded grant and contract activity and the extent of faculty participation in these activities on a released-time basis. The amount of net funds generated by the release of faculty will be calculated as follows:
NFA = CHR x (SAL/24) - RCOST - SCOST
Where:
NFA |
Net funds available |
Once the amount of net funds available has been identified, allocation will be based on one of the two following formulae:
Formula 1:
25% to University administration
25% to College administration
50% to the departmental unit providing the faculty released-time
Formula 2:
25% to University administration
25% to College administration
30% to Department
20% to Center
Formula 1 will be used in those cases where the grant or contract was obtained without assistance from a research or program center or institute. Formula 2 will be used in those cases where a center or institute participated in the development or administration of the grant or contract.
As an example, if a released faculty member earns $35,000, and if his/her replacement (adjunct or overload) costs $1,500 per course, and if search costs equal $175 per course, then net funds available per 3-credit-hour course release would be $2,700. A half-time equivalent faculty release for a year would, therefore, generate $10,800 in net funds available For each half-time equivalent faculty member released, the distribution of those funds by Formula 2 would be:
$2,700 to University administration,
$2,700 to College administration,
$3,240 to the Department providing the release, and
$2,160 to the research or program center.
