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CON Budget/Financial Principles and Practice: Difference between revisions
CON Budget/Financial Principles and Practice (view source)
Revision as of 14:02, September 27, 2013
, September 27, 2013→Indirect cost revenue
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====Indirect cost revenue==== | ====Indirect cost revenue==== | ||
<p style="margin-bottom:15px;"></p> | <p style="margin-bottom:15px;">Indirect cost return, also known as facilities and administrative (F&A) costs, results from extramural grants and contracts. F & A dollars are distributed to NU and UNMC, and the College receives a lesser portion. These funds are used by the Dean in service of the College’s research mission, and largely support the Niedfelt Nursing Research Center. </p> | ||
====Salary supplemental compensation==== | |||
<p style="margin-bottom:15px;">Faculty who hold an appointment of at least .5 FTE and the academic rank of instructor or above are eligible for NU’s Supplemental Compensation Plan. The Plan pertains to faculty who are PI, Co-PI, or Co-I of an extramural research grant or senior Project Director or Co-Project Director of an extramural training or practice grant/contract. The issue of supplemental compensation applies only when a portion of the person’s salary is compensated by the grant/contract. By NU policy, maximum salary supplement is 50% of freed up dollars, not to exceed 25% of base University salary. The award of supplemental compensation is at the discretion of the Dean and depends on such factors as workload adjustments and costs of the project to the College. Department Chairs and Division Assistant Deans recommend salary supplement percents to the Dean. In addition, they encourage faculty to allocate at least some of their supplemental compensation to a Professional Development Account, given the limited College dollars for professional development and travel.</p> | |||
====Faculty clinical practice revenue==== | |||
<p style="margin-bottom:15px;">The College has a Clinical Revenue Distribution Plan for faculty who are providing direct clinical nursing services within their faculty role as negotiated through the CON’s Morehead Center for Nursing Practice. Revenue distribution is based on revenue exceeding expenses to the College, as follows. Faculty are encouraged to allocate at least some of their compensation to a Professional Development Account.</p> | |||
<table align="center" cellpadding="5" cellspacing="0" width="80%" border="1"> | |||
<tr> | |||
<td width="50%">Faculty Member</td> | |||
<td width="50%">50%</td> | |||
</tr> | |||
</table> | |||
===Professional Development Accounts=== | ===Professional Development Accounts=== | ||