Any future budgetary investments, irrespective of whether the source involves redirected internal funds or new revenues, will be prioritized to support the University’s foremost strategic plan goals. New funding allocations will be based on considerations that include the following factors:
· Fit with Strategic Plan priority(ies)
· Delineation of strategies for accomplishing proposed objectives and outcomes
· Demonstration that appropriate (i.e., assessable) progress indicators and accountability measures will be monitored
· Criteria/benchmarks for evaluating the success of the proposal
· Budgetary request and timeframe, including non-university sources of funding. If new revenues are forecast from the requested investment, such proposals must be accompanied by a long-term financial prospectus (i.e., budgetary pro forma) demonstrating financial solvency.
· If either new facility construction or a major renovation of an existing facility is involved, the proposal must be accompanied by a completed Program Statement.
Generally, a sunset provision not to exceed (5) years will apply to funding new initiatives and ventures. Future funding thereafter will depend on the effectiveness of the involved activity(ies), as determined by the progress, level of intended goal attainment and value creation achieved.