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Memo: L&S Buyout Policy Framework Effective FY23

Effective FY23, the College is solidifying the policy regarding faculty buyouts.

In order to have the possibility of converting regular, recurring savings from faculty buyouts to ongoing tally sheet base, each department must have a buyout policy approved by their Executive Committee as well as College Leadership.

Obtaining College Leadership approval requires that each department's policy contain these key elements:
  1. Buyout Rate

    In order to have the possibility of converting regular, recurring savings from faculty buyouts to ongoing tally sheet base, each department must have a buyout policy approved by their Executive Committee as well as College Leadership.

    Pre-Approved L&S Buyout Rates:
          4 course load: 20% per course
          3 course load: 27% per course
          2 course load: 40% per course

    There may also be cases where departments generally adopt the standard buyout rates but may need to authorize lower buyout rates for certain large research grants. College Leadership must be notified of those exception requests and provide approval for the modified rates in those unique cases.

  2. Required Teaching Policy

    Each buyout proposal sent to College Leadership for consideration must contain a statement approved by the department’s EC regarding how many courses a faculty member can buyout of versus teach each year. Statements can allow faculty to buyout of all courses for one year, but any consideration of an additional year of buying out of all courses needs to be approved by College Leadership.

  3. Percentage of Faculty Who Can Buyout in a Given Year

    Each buyout proposal sent to College Leadership for consideration must contain a statement approved by the department’s EC regarding the percentage of faculty that can buyout of courses each year. Any deviation from this stated percentage for a given year will need to be approved by College Leadership.
Questions regarding the approval process for buyout polices should be routed through your Academic Associate Dean and Jennifer Klippel, Associate Dean for Innovation and Strategic Budgeting.




Keywords:buyout, buy out, faculty budget, BSR, budget status report, tally sheet, course release   Doc ID:121335
Owner:Kesha W.Group:L&S KB
Created:2022-09-14 13:02 CSTUpdated:2022-11-09 07:07 CST
Sites:L&S KB
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