Due to the nature of current conversations in the legislature and the uncertainty surrounding state funding for 2014-2015, extremely limited funds will be available for investment via the Strategic Planning and Resource Alignment (SPARA) process. Understanding the expected lack of available funding, the number of unfunded proposals from 2013-2014, and the amount of work that goes into the SPARA process, UWF will not engage in a full SPARA review process* this year.
However, you are encouraged to review and update proposals submitted last year in the event that the funding picture changes in the coming months. If funds become available, the vice presidents will call for updated SPARA proposals that are strategically aligned and quality-focused to be processed, reviewed and considered.
Investment Funding Available for SPARA
An initial estimate of investment funds available for SPARA is determined by the Chief Financial Officer in consultation with the President, Provost, and Vice Presidents. Factors considered in determining investment funds available for SPARA include:
Changes Impacting Income
- Two-year repeated growth in tuition collections in the Student Fee Trust Fund.
- Change in investment earnings dedicated to the Student Fee Trust Fund.
- Reductions/increases in State appropriations impacting the Student Fee Trust Fund.
- Impact of changes in tuition rates.
Changes Impacting Expenses
- Pre-existing commitments (e.g., promotion and tenure, contractual obligations, etc.).
- Cost to continue budget items (e.g., increases in utility costs, unfunded changes in benefits, etc.)
- Divisional initiatives in progress or on soft funding (accreditation requirements, equity funding, etc.)
- Statutory or regulatory restrictions on newly available funds.
- Statutorily mandated institutional reserve requirements.