Effective Date: January 1, 2003
Last Reviewed: March 10, 2021
Where a Department wishes to conduct targeted fund-raising, both the potential source(s)(individuals, corporations, foundations, etc.) of the revenue and the specific anticipated expense(s) (personnel, maintenance, service contracts, etc.) should be presented as part of the budget forecast.
Such revenue sources and expenses must first be approved by departmental and divisional managers before being placed in the forecasts.
Ideally, such proposals should be proposed at least 9-12 months before the beginning of the fiscal year in which the fund-raising is to occur, and the expenses are to be incurred. During this period, the Advancement Team and the Director of Academic Development will be available for consultation regarding the feasibility of the potential fund-raising Initiatives.
As a corollary to this, if these funds are not raised then the expenses cannot be incurred. In reality, the departmental manager must have alternative spending plans (i.e. if 80% is raised, if 60% is raised, etc.). If the issue cannot be resolved at that level, the director of development (or academic development) and the departmental manager will consult with their division head.
Either division head can approach the other to further discuss the issue and seek a resolution. If no resolution can be negotiated by the Vice President for Advancement and the other Vice President, then both divisional managers can meet with the President and the three will find a resolution. The material prepared for this meeting will include the targeted fund-raising proposal, the conflict identified by the Advancement Division, and any proposed alternatives.