CON Management of the Faculty Practice Fund

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Faculty Policies

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 (changes) Revised: November 2023 (changes)
Referenced Documents: Appendix Z Faculty Practice Fund

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 Policy 4.1.10 Faculty Practice Committee Rules of the Faculty Organization and have a contract through the Morehead Center for Nursing Practice (MCNP).

Policy

• Pending availability of funds, automatic approval will be granted for expenses required for practice activities of the faculty members such as DEA or professional certification necessary for the MCNP contract.
• 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.
• 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 (or equivalent) through the MCNP.
• TPP Administrator will work with division specific support staff to follow standard University reimbursement procedures. Special requests will be managed on an individual basis.

Management of the Funds

• The Fund is co-managed by the MCNP 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.

Faculty Requesting Funds

See Appendix Z for the procedure.