CON Management of the Faculty Practice Fund

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UNIVERSITY OF NEBRASKA MEDICAL CENTER
COLLEGE OF NURSING
Management of the Faculty Practice Fund Subsection: 4.2.8
Section 4.0 - Faculty Policies Originating Date: May 2017
Responsible Reviewing Agency:
Faculty Practice Committee
Executive Council
Revised: October 2018
Referenced Documents:


Purpose:

The purpose of this policy is to describe the process for management of the CON Faculty Practice Fund (hereafter, Fund). The purpose of this fund is to support faculty practice initiatives, especially scholarship and development for faculty who are part of the Faculty Practice Group of the College of Nursing

Scope:

  • The policy applies to all faculty of CON who are engaged in Practice (per the definition of practice in Faculty Practice Committee Rules of the Faculty Organization 4.1.10) and have a contract through the Morehead Center for Nursing Practice.
  • The Fund will cover expenses specific to the practice activities of the faculty members, for example, DEA, APRN licensure or certification.
  • The Fund will cover, based on requests and availability, faculty development and scholarship activities. These funds will be distributed based on the scholarly merit of the project or the contribution the activity will make to furthering faculty practice at the UNMC CON.
  • The Fund will cover expenses specific to the Faculty Practice Committee, e.g. the costs of the CNE for the Annual Fall Workshop.
  • Disbursement of funds to practicing faculty are NOT based on the revenue brought in to the account by any individual faculty member but are, instead, equally available to all faculty who are engaged in practice and have a “practice” contract (or equivalent) through the Morehead Center for Nursing Practice.

Procedure for Management of the Funds:

  • The Fund is co-managed by the Morehead Center for Nursing Practice and the Faculty Practice Committee.
  • The MCNP will present a summary of the budget of the Fund to the Faculty Practice committee at least every quarter and prior to the dates when requests for funds are submitted.
  • An Annual Report is prepared every May that will describe revenue and disbursements and will be submitted to the Dean and Executive Council at the May Meeting.

Procedure for Faculty Requesting Funds:

Application Form (Appendix Z1) is available to all eligible faculty with applications accepted on a rolling basis.

Special Requests: A faculty member may have an unexpected need for funds. In that case, the faculty member will contact the Faculty Practice Committee chair and request permission to present the request to the FPC at the next committee meeting. A decision would be made by a special vote of the FPC.

Procedure for Awarding of Funds:

Pending availability of funds, automatic approval will be granted for expenses required for practice (DEA, APRN licensure or certification). TPP Administrator will work with division specific support staff to follow standard University reimbursement procedures. Special requests will be managed on an individual basis.