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Faculty Purchased Release Time
Statement:
- The control of funds for purchased release time rests with the college.
Deans should work with department chairs to:
Determine the expected external support (purchased release time); Plan the number of personnel that will be funded by external support; Indicate which personnel will be supported by external funds; Establish contingency plans for use of unanticipated funds or a shortfall
in external support; Monitor, at regular intervals, the flow of external funds and ensure the
effective use of funds.
The "line of credit" is established at the same time as the annual
budget and is presented in the budget cycle. The plan and the resulting "line
of credit" may be revised and amended as needed throughout the academic
year. Responsibility for establishing and meeting the external funds plan for
each college rests with the dean. Any budget adjustment moving funds from
or to the 4010 line must have the dean's or the dean's designee's approval. Since the Office of Academic Affairs oversees the budgets of the colleges,
that office serves as a "broker" to assist deans to meet their
respective commitments while fully utilizing all the external funds realized.
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