CON Faculty Practice Fund: Difference between revisions

         <td width="60%"><big>'''Faculty Practice Fund'''</big></td>

         <td valign="top" width="40%"><big>'''Policy:''' '''1306 (4.2.8)'''</big></td>

         <td width="60%">Faculty Policies</td>

         <td width="40%">Originating Date: [[Special:PermanentLink/10319|May 2017]]</td>

         <td valign="top" width="60%">Responsible Reviewing Agency:<br /><div style="margin-left:3em; line-height:1.2;">Executive Council</div></td>

                 <td>Revised: [[Special:PermanentLink/13980|October 2018]] ([[Special:Diff/10319/13980|changes]])<br />Revised: [[Special:PermanentLink/18074|November 2023]] ([[Special:Diff/13980/18074|changes]])<br />Revised: [[Special:PermanentLink/18275|August 2025]] ([[Special:Diff/18074/18275|changes]])<br />Revised: June 2026 ([[Special:Diff/18275/{{REVISIONID}}|changes]])</td>

     <td colspan="2" valign="top">Referenced Documents:

        <div style="margin-left:3em; line-height:1.2;">[[CON Requesting Funds from Faculty Practice Fund|1306-PR Requesting Funds from Faculty Practice Fund]]</div>

        </td>

==Purpose==

<p style="margin-bottom:15px;max-width:70em !important;">The Faculty Practice Fund operates as a practice-based scholarship dissemination and professional development support mechanism for eligible faculty practitioners.</p>

 

==Scope==

<p style="margin-bottom:15px;max-width:70em !important;">This policy applies to all College of Nursing (CON) faculty who maintain an active faculty practice appointment through the Morehead Center for Nursing Practice (MCNP) and whose practice activities result in sustained contribution to the Faculty Practice Fund for the majority of their contracted faculty practice period. </p>

 

<ul style="margin-left:3em; margin-bottom:15px;max-width:67em !important;">

    <li style="margin-bottom:15px;">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 CON. </li>

    <li style="margin-bottom:15px;">Faculty are eligible for up to $1500 over a three-year period, which is tracked by the transformational practice and partnerships (TPP) administrator. </li>

    <li style="margin-bottom:15px;">Disbursement of funds to practicing faculty are not based on the revenue brought into 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 with contributions to the Fund. </li>

<p style="margin-bottom:15px;max-width:70em !important;">The Faculty Practice Fund is to support the dissemination of practice‑based scholarship, with additional support for ongoing, equitable professional development and continuing education for faculty practitioners engaged in practice through the MCNP, in alignment with the mission and practice priorities of the CON.</p>

<p style="margin-bottom:15px;max-width:70em !important;">Faculty are eligible for Faculty Practice Fund support if they:</p>

<p style="margin-bottom:15px;max-width:70em !important;">Faculty Practice Fund support is not prorated based on faculty rank, FTE, or percentage of practice allocation, provided eligibility criteria are met.</p>

    <li style="margin-bottom:15px;">Eligible faculty practitioners are also eligible for an additional $ 1,500 over 3 years for professional development support. </li>

===Ownership and Separation of Funds===

<ul style="margin-left:3em; margin-bottom:15px;max-width:67em !important;">

    <li style="margin-bottom:15px;">Faculty Practice Fund monies are owned by the MCNP, not the individual faculty member. </li>

              <li style="margin-bottom:15px;">May not be paid out upon resignation, retirement, or separation from the CON </li>

    <li style="margin-bottom:15px;">If a faculty member leaves the CON, discontinues practice through MCNP, or changes their practice allocation such that they are no longer eligible, any unused Faculty Practice Fund balance remains with the MCNP for continued support of active faculty practitioners. </li>

 

===Allowable Uses of Funds===

<p style="margin-bottom:15px;max-width:70em !important;">Fund prioritization will focus on practice-based scholarship, innovation, and outreach. </p>

<p style="margin-bottom:15px;max-width:70em !important;">Faculty Practice Fund monies may be used to support activities that advance practice-connected scholarship, innovation, and community or clinical outreach, provided they are directly related to the faculty member’s practice role through MCNP. Examples include: </p>

    <li style="margin-bottom:15px;">Practice-based research dissemination (e.g., open-access fees, poster printing, abstract submission fees) </li>

    <li style="margin-bottom:15px;">Development of clinical innovations, protocols, toolkits, or pilot initiatives arising from faculty practice </li>

<p style="margin-bottom:15px;max-width:70em !important;">Use of funds under this category must maintain a clear connection to faculty practice activities and align with CON and MCNP priorities. </p>

<p style="margin-bottom:15px;max-width:70em !important;">Faculty Practice Fund monies may also be used to support professional development and continuing education expenses related to faculty practice, including but not limited to: </p>

<ul style="margin-left:3em; margin-bottom:15px;max-width:67em !important;">

    <li style="margin-bottom:15px;">Professional certifications and renewal fees not already covered by the MCNP budget, but that support practice excellence. (BLS, ACLS, PALS, TNCC, WOC, etc...)

              <li style="margin-bottom:15px;">MCNP directly supports licensure and certification costs that directly impact the faculty members’ authority to practice. (RN and APRN state licensure, National RN and APRN Certification, and licensure for prescriptive authority) </li>

    <li style="margin-bottom:15px;">Other specialty certifications and certification maintenance </li>

    <li style="margin-bottom:15px;">Continuing education courses and programs </li>

    <li style="margin-bottom:15px;">Conference registration associated with practice scholarship dissemination or professional development </li>

    <li style="margin-bottom:15px;">Travel-related expenses associated with professional development (e.g., airfare, lodging, ground transportation) </li>

</ul>

 

<p style="margin-bottom:15px;max-width:70em !important;">Expenses may be covered through either of the following methods: </p>

    <li style="margin-bottom:15px;">Reimbursement following submission of appropriate documentation and proof of receipts, in accordance with university financial procedures. </li>

 

    <li style="margin-bottom:15px;">The Associate Dean for Transformational Practice and Partnerships has final oversight of any program funds utilized by the MCNP </li>

    <li style="margin-bottom:15px;">The Faculty Practice Fund is intended to support the ongoing vitality, visibility, and effectiveness of faculty practice within the CON, and funds will be stewarded to ensure continued availability for current and future faculty practitioners. </li>

    <li style="margin-bottom:15px;">The MCNP is responsible for administering the Faculty Practice Fund and tracking eligibility, accrual, and balances. </li>

    <li style="margin-bottom:15px;">The MCNP oversees this policy in collaboration with the Associate Dean for Transformational Practice and Partnerships and the Executive Council to ensure appropriate stewardship of funds and alignment with CON priorities.</li>

    <li style="margin-bottom:15px;">Questions regarding the appropriateness of specific expenditures not explicitly listed in this policy will be reviewed and determined by the Director, MCNP or designee, in alignment with CON and University policy. </li>

</ul>