University Budget Committee Allocates $24 Million
Updated May 31, 2016
The University Budget Committee, comprised of faculty, administrators, and a student representative, recently completed its annual review of exceptional funding requests. This newly established process is helping align our funding priorities with metrics and strategies embedded in our new Collective Impact Strategic Plan and 5-year path toward preeminence.
This year’s allocations will allow us to continue growing our faculty and supporting them with infrastructure and technology, as well as growing research and graduate programs and helping our students with additional financial aid and learning support services.
These allocations do not include collectively bargained articles, such as in-unit faculty salaries, which are currently under negotiation.
After careful consideration and deliberation, the committee allocated just over $24 million in recurring and non-recurring funds. This total also includes $5 million UCF received in new and recurring emerging preeminence funds. The total breakdown is as follows:
- $6 million for 45 new faculty lines (information regarding allocation to colleges, clusters, etc. is forthcoming)
- $3 million for the development and recruitment of National Academy members and additional strategic initiatives to advance UCF to preeminence
- $4 million for the implementation of research administration technology, as well as IT and facility infrastructure needed to support our faculty as we grow our research
- $4 million to grow doctoral and post-doctoral programs, as well as increase graduate waivers and stipends
- $2 million for student support initiatives, including scholarships, programs aimed to improve academic progress and graduation rates, and library materials
- $2 million to improve building and IT security for the protection of our faculty, staff, and students
- $3 million to be distributed at the division level to align fiscal authority with those closest to local strategic and operational decisions
The Office of Budget, Planning, and Administration will continue working with deans, vice presidents, and their delegates to ensure that all available resources are being utilized to their fullest potential. By doing so, we have reduced the number of requests evaluated by the University Budget Committee and directed new resources to collectively advance our academic mission.
Thank you to each of you who prepared requests and presented to the University Budget Committee. We appreciate your continued efforts toward good fiscal stewardship.