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Projecting & Managing Faculty Funds

Projecting & Managing Faculty Funds. Lisa Kopecky Assistant Vice President for Academic Operations & Finance. 2007-2008 Faculty Head Counts. 713.5 Tenured/Tenure-Track Faculty 165 Full-time Lecturers 1,203 Part-time Faculty 2,081.5 TOTAL. Academic Budget Breakout 07-08.

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Projecting & Managing Faculty Funds

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  1. Projecting & Managing Faculty Funds Lisa Kopecky Assistant Vice President for Academic Operations & Finance

  2. 2007-2008 Faculty Head Counts • 713.5 Tenured/Tenure-Track Faculty • 165 Full-time Lecturers • 1,203 Part-time Faculty 2,081.5 TOTAL

  3. Academic Budget Breakout 07-08

  4. What Can Go Wrong?

  5. Basic Process • What is the distribution of our faculty • How much should be available • How much is available • What are other “puts & takes” adding to or taking from the available amount • What are the commitments against available funds

  6. Faculty Headcount Distribution

  7. How Much Should Be Available?

  8. How Much Is Available?

  9. Adjusting the Baseline

  10. Baseline Budget Realignment • Original FT Faculty $9,072,100 • Original PT Faculty 2,100,915 • $11,173,015 • Revised FT Faculty $9,221,300 • Balance to PT Faculty 1,951,715 $11,173,015

  11. PT Faculty Dollars • Fund: • Part-time faculty hires • Part-time faculty settlements • Teaching Associates • Graduate Assistants • Faculty additional pay or releases

  12. How Much Is Available?

  13. Puts & Takes

  14. Faculty Leaves • FERP: Faculty Early Retirement Program (50% time base & 50% salary for 5 years) • DIPL: Difference in Pay Leave (faculty is paid difference between base salary and FT Lecturer Replacement Rate - $47,472 for 08-09) • Sabbatical: Fall or Spring – receive full pay; AY – receives 50% pay • LWOP: Leave Without Pay – 100% of salary savings during leave period available for PTF hiring • Release Time Reimbursements – Funding from grant or other activity buy out faculty time

  15. Release Time Reimbursements

  16. Difference-In-Pay Leave • Faculty AY salary $80,000 • FT lecturer • replacement rate - $47,472 • Paid to AY faculty • on Leave $32,528

  17. Part-time Faculty Salary Payouts • Part-time Appointment Types: • Academic Year: Paid 10 Months (Sept – June) in present year; 2 months in next (July & August) • Fall:Paid 6 Months in present year (Sept – Feb) • Spring:Paid 4 Months in present year (February – June); 2 months in next (July & August)

  18. PT Faculty Salary Payouts

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