Paying For Excellence

There are six viable sources for funding the initiatives identified by this plan. Options from those sources include:

Redeployment of current internal resources:

• Redirecting as much as 2% of the resident instruction budget, which would provide roughly $8M annually ($100M over the decade) to help fund the mission-critical and institutional initiatives of this plan.
• The salaries of UGA personnel eligible for retirement over the next decade totals roughly $80M (in current dollars). These retirements will create a significant opportunity for strategic redirection. In addition, normal attrition will allow the University to reallocate another $5M to $10M annually ($50M to $100M over the decade) in vacant position salary dollars.
• Strategically targeting units for budget redirection or elimination to reallocate resources to areas of higher priority.

These actions and/or others will enable the University to create a redeployment pool of roughly $350M over the next ten years.

Student fees:

• A "technology fee," specifically called for by the Student Government Association strategic plan and widely in use on other campuses throughout the country, was implemented in the fall of 2000. Over the next decade, this fee (currently $75/student/semester) will provide roughly $50M to help meet the costs of creating a "24/7" campus fully supported by information technology.
• The University will explore the competitive opportunities of "differential tuition" of, roughly, $1000/year to reflect the aggregate costs and benefits resulting from study at a research university. Potential revenue would be, roughly, $30M annually, $300M over a decade.

Sponsored research:

• As a result of the strategic institutional initiatives launched through this plan, it is expected that UGA will increase its externally sponsored research by 50% by 2010.

Fundraising:

• In support of this plan, UGA will immediately carry out a campaign feasibility study on the strategic directions and initiatives identified, with an expectation of launching a capital campaign to support them in the range of $500M to $1B.

State Support:

• In order to continue to attract and retain the quality of faculty and staff required to offer nationally competitive programs and services, salary increases will continue to be the University's highest priority for state appropriations; estimated salary increase dollars required over the decade = $200M.
• New capital outlay dollars under current procedures should yield roughly $100M in new facilities in the coming decade.
• Renovation dollars are particularly important to a University with as many old and often historic buildings as UGA has; total renovation allocations should total roughly $80M over the decade.
• TRS to pick up retirement benefits for UGA retirees ($7M/ yr).

Special State Support:

• The University will explore with the state of Georgia opportunities for a special, one-time $350M appropriation or bond issue to build the requisite research facilities required for UGA to properly support the economic development Georgia deserves.
• The University will also work with the state leadership to create a lottery-funded Fellowship Program for graduate student support in areas of high priority for the state's economic and cultural development ($5-10M annually).

Summary: Additional Revenue/Redirection Support Goals

[ SEE THE NEW FUNDING OPPORTUNITIES / POSSIBILITIES / INITIATIVES CHART ]

Updated 12/09/2000