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
 


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 Forms (Appendix Z1, Z2, Z3) are sent to all eligible faculty on or around August 1 and December 1 with a due date of Sept 1 and January 1.
    • Projects
    • Conferences and Continuing Education
    • Practice Expense

Special Requests: A faculty member may have an unexpected need for funds outside of funding cycle. In that case, the faculty member will contact the Faculty Practice Committee chair and request permission to present the idea, including a full application, 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:

Scoring and Committee decision making process – All voting FPC members would independently score the application using the rubric (Appendix Z4). The committee would find consensus on the final score, rank the proposals, and finally decide which proposals would get funding.

Meetings for Award Decisions: Fall (Second week of September – special meeting if needed) and Spring (Standing January meeting)

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