Investment for Growth Program
To enhance our scholarly excellence and to improve our financial viability, we believe it is important for our institution to invest discretionary resources to allow our university to address the changing demands of a premier land-grant institution.
The goal of the Investment for Growth Program is to be responsive to high and emerging demand programs that lead to financial sustainability and additional sources of revenue. In FY18, each college and research institute contributed resources to an investment pool of approximately $11 million. Each college and campus research institute was invited to submit proposals for funds to seed net revenue generating activities; to provide bridge funds for the expansion of existing revenue generating activities; to invest in automating processes; to motivate reorganization; and to co-invest in new instructional facilities and projects.
All college-level activity-based units are eligible to submit investment proposals that have the potential to provide additional net revenue. Activity-based units are defined as colleges, academic schools, and research institutes—those units that generate a significant share of their revenues through their direct activities.
Proposals are submitted during the annual unit review process and are evaluated using a defined set of criteria. Selected proposals receive funding during the next fiscal year.
The following criteria are used to assess investment proposals:
- contribution toward mitigating risk of reliance on state financial support;
- alignment with high/emerging demand;
- centrality to the scholarly mission of the unit or campus (teaching, research, outreach);
- likelihood of financial stability at the end of investment funding;
- potential to aid collaboration within the unit or across campus units; and
- potential to minimize redundancy across units.
The review and selection of proposals is managed by the Office of the Provost and includes members of the Council of Deans and Campus Budget Oversight Committee, as well as the Chancellor and Provost and their leadership teams.
Investment funds from the reallocation investment pool plus money from central resources will be directed toward these projects, with the expectation that the dollars will act as seed money to generate additional net revenue. Many of the proposals have multiple sources of investment, including other internal and external funding, in addition to the Investment for Growth seed money.
For more information about Investment for Growth Programs, contact Paul Ellinger, Associate Chancellor and Vice Provost for Budget and Resource Planning.