Project Key Values

The Funds Management Project has established a set of key values that will influence the work of the committee. These values are important to the academy and will be foundational to the design and implementation of the funds management strategies developed through the FMP.

OVERARCHING VALUE

Enhancing and sustaining excellence in the academy is the most worthy focus of our attention, priorities and efforts.

KEY VALUES

  1. The committee fosters open communication with stakeholders, including faculty, deans, department heads, Directors of Financial Affairs, the provost and the treasurer, to gather input from those affected by funds management strategies, to ensure that all stakeholders are well served by the committee’s work and to capture, develop and disseminate effective cash management strategies for the academic units.
  2. Resources within the academy are managed with the highest return on investment (ROI) and impact for our students, faculty and staff and the programs they support.
  3. Unit leaders have resources to capitalize on emerging opportunities in learning, discovery and engagement resulting in investments in excellence, in student success, in research discoveries and in stakeholder impact.
  4. Consistent funding sources that assure that excellent programs are sustained and that excellent faculty and staff are retained in the face of annual fluctuations in available revenues from gifts, grants, and revenue generating programs.
  5. Faculty have access to opportunities to secure discretionary resources to invest in new areas of teaching, research and engagement through travel, equipment purchases or graduate student assistance; to have assurance that their research programs can be bridged during breaks in funding; or for use in other areas of discretionary importance.
  6. Faculty start-up funds are available to attract highly talented faculty in all disciplines who will bring national and international recognition to Purdue.
  7. Availability of merit or need based financial aid for eligible students is maximized.
  8. Whenever possible, funds management strategies should be simple to communicate and implement, respect incentives of the people involved (avoid unintended consequences), and minimize administrative costs.
  9. Donors receive the highest level of stewardship for their gifts, both in meeting the intent of each gift and in deploying the resources in a timely manner.

 

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