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A
Policy on Dispersing Departmental Funds
from Gifts and Endowments
Departmental gift and
endowment funds should be spent, unless otherwise restricted by the terms of
their donation, at the discretion of the department to support collective or
individual teaching, research or other activities consistent with the mission of
the University. Departments must record procedures that describe how those
allocations will be made, and the Office of Academic Affairs must approve those
procedures. An approved procedure must, in particular, include provisions by
which a record of expenditures is maintained. Approved procedures need be
resubmitted to the Office of Academic Affairs only when substantive changes in
their content or application are under consideration. Copies of the records of
expenditure should, nonetheless, be part of the annual documentation of how the
funds were spent during each academic year, and that report should be submitted
to the Office of Academic Affairs by June 30th of every year.
Payment from departmental
gift and endowment funds that supplement the regular annual salary of any
Wesleyan employee must receive the prior approval of the vice president for
academic affairs.
Payment to faculty for
summer salary is allowed under this policy, subject to the annual limits imposed
by the University Policy on Extramural Summer Compensation. Summer compensation
to faculty in support of research requires prior approval by the vice president
for academic affairs, who will evaluate all requests in terms of how the moneys
will contribute to progress on a specific research initiative in the context of
external funding opportunities and long-term research initiatives. Any request
for summer compensation in support of research from gift or endowment funds
should, therefore, include a brief description of the activity to be undertaken
and some discussion of how it fits into the larger picture of individual or
departmental research programs. Requests for summer compensation in support of
teaching and other service in excess of a faculty member’s annual salary require
similar approval by the vice president for academic affairs. Requests in these
areas will be evaluated in the context of the department’s evolution and
improvement, so requests should include a brief description of the activity to
be undertaken and its connection to the larger picture of departmental needs and
aspirations. Brief reports of progress derived from summer activity that was
underwritten by departmental gift or endowment funds will be submitted to the
Office of Academic Affairs by October 30th of each year.
Any equipment purchased by
departmental endowment or gift funds will be the property of the department.
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