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L&S Department Buyout Estimate for Faculty
The tool linked below is for use by L&S departments/programs to estimate the cost of a Faculty course buyout. A course buyout refers to Faculty using alternate funding to reduce their instructional duties. This tool is not meant to calculate the cost of other course releases (e.g., administrative assignments).
This tool references the L&S Buyout Policy Framework. The tool populates with default values based on the College’s framework, but also allows for custom values to be entered. If you have questions about your department’s framework, please contact Ben Weisse.
Download link: Buyout Estimate for Faculty
Disclaimer: This tool is for planning and budgeting purposes only. The actual cost of a buyout will change with any changes to the salary rate. The final fringe cost may also differ from the tool’s estimate.
Fields – Buyout Estimate
| Field Name |
Description |
|---|---|
| Full-time faculty teaching load |
Enter the full-time faculty teaching load for the department. Faculty with joint appointments should enter the full-time value in this field. This is a drop-down field with the following options:
If you select 'Other', you need to enter a value in 'Custom course buyout %' |
| Default Course Buyout % (no entry) | This field contains a formula. It the standard course buyout percentage, based on the full-time faculty teaching load entered above and the pre-approved L&S buyout %. |
| Field Name |
Description |
|---|---|
| Custom course buyout % | If you selected ‘Other’ for the full-time faculty teaching load, or if your department does not use one of the pre-approved L&S buyout %, enter the buyout percentage here. |
| Fringe Rate | The fringe rate from RSP (36.5%) is entered by default. This percentage may be adjusted if needed. |
| Field Name |
Description |
|---|---|
| Full-time Base Rate | Full-time base rate. This spreadsheet assumes that the rate is nine-month/C-Basis. |
| # of fall buyout | Planned number of courses bought out for fall. |
| # of spring buyout | Planned number of courses bought out for spring. |
Estimated Cost of Buyout (no entry)
- This table will calculate the cost of the buyout based on the values entered above.
- The ‘Buyout salary’ column will show the salary cost per semester, with a cost for the year in the bottom ‘Total Cost’ row.
- The ‘Buyout salary plus fringe’ column shows the total cost of the buyout per semester, using the ‘Fringe Rate’ entered above. The total for the year is listed at the bottom) with the ‘Fringe Rate’ from above applied.
L&S Contacts
- For funding related questions, contact Mary Beth Roberts, Assistant Dean for Finance-Budget, Planning & Analysis.
- For HR related questions, contact Ben Weisse, Assistant Dean for Faculty Human Resources.