IBF Revised 20150910 - Liberty University



Initial Budgetary Forecast (IBF) FormThe IBF form is required when proposing one of the curriculum actions listed below. Please complete this form prior to the submission of Form 1 or Form 4 curriculum proposal to the Chair of the Faculty Curriculum Council (undergraduate) or Graduate Curriculum Council.Select Action: FORMCHECKBOX New Degree Program FORMCHECKBOX New Major FORMCHECKBOX New Concentration FORMCHECKBOX New Cognate FORMCHECKBOX New Stand-Alone Minor FORMCHECKBOX New CertificateTitle of New Degree Program, Major, Concentration, Cognate, Stand-Alone Minor, or Certificate: FORMTEXT ?????College/School/Center or Department Initiating Change: FORMTEXT ?????Originator of this Proposal: FORMTEXT ?????Delivery Format: FORMCHECKBOX Resident FORMCHECKBOX Online FORMCHECKBOX BothProposed Implementation Date: FORMTEXT ?????New Courses required for implementation of the proposed program (include course number(s), title(s), credit hours). List New Courses/Titles/Credit Hours: FORMTEXT ?????Faculty. Using the Faculty Roster form, include list of currently employed qualified faculty and credentials who are available to teach in the proposed program. Please note that faculty must have the required teaching credentials for course assignments.List available credentialed faculty: FORMTEXT ?????Are new/additional faculty needed to offer the proposed program? FORMCHECKBOX Yes FORMCHECKBOX NoIf yes, please explain. FORMTEXT ?????Provide a rationale (needs assessment) for the proposed program that includes: The potential to attract new students (defined as those who might not otherwise choose Liberty). FORMTEXT ?????How the proposed program aligns with the University Statement of Mission and Purpose. FORMTEXT ?????How the proposed program supports Liberty’s Strategic Plan. FORMTEXT ?????Attach a draft copy of a Degree Completion Plan (DCP) as appropriate.Project for the first three years the financial commitment required by the University to implement the program in each of the areas shown on the “Projected Statement of Activities for (Name of Program) Proposal” form (see Sample on last page). If a category of expenditure does not apply, simply insert DNA.In order to take advantage of the embedded formulae in the form, please obtain an electronic copy of the form from the appropriate Curriculum Chair. Submitted by: FORMTEXT ????? FORMTEXT ?????Department Chair/Associate Dean DateComments: FORMTEXT ????? FORMTEXT ????? FORMTEXT ?????Dean/Director DateComments: FORMTEXT ?????Review by Vice Provost of College/School Submitting the IBF:What action is required by Liberty University for the proposed program according to SACSCOC requirements?Refer to policy at: FORMCHECKBOX Completion of the substantive change prospectus FORMCHECKBOX Notification only FORMCHECKBOX No action necessaryVice Provost of College/School DateReview by Vice Provost for Academic Operations:Dr. Kevin Corsini DateComments:Approval to Proceed with the Proposal:Dr. Ronald Hawkins DateProvostComments:Mr. Jerry Falwell, President DateComments:SAMPLE SPREADSHEETLiberty University(Name of Program Department)Projected Statement of Activities for (Name of Program) ProposalFirst YearSecond YearThird YearTotal Assumptions:Number of Students Resident0000 Online0000Number of Credit Hours per Year Resident0000 Online0000Tuition Credit Hour Rate Resident$0$0$0$0 Online$0$0$0$0Institutional Discount Rate0.0%0.0%0.0%RevenueTuition$0$0$0$0 Institutional scholarships0 0 0 0 Net tuition 0 0 0 0 Lab fees0 0 0 0 Grants income0 0 0 0 Endowment income0 0 0 0 Donations0 0 0 0 Other income0 0 0 0 Net Revenue $0 $0 $0 $0 ExpenseFaculty salaries0 0 0 0 Faculty Benefits0 0 0 0 Scholarships - GTA 0 0 0 0 GTA stipend0 0 0 0 GTA Benefits0 0 0 0 Staff salaries & wages0 0 0 0 Staff Benefits0 0 0 0 Instructional materials and supplies0 0 0 0 Professional Development0 0 0 0 Library Resources0 0 0 0 Course Development0 0 0 0 Advertising and marketing 0 0 0 0 Maintenance0 0 0 0 Space Constructions Costs0 0 0 0 Lecture Series0 0 0 0 Faculty Office Setup Costs0 0 0 0 GTA Office Setup Costs0 0 0 0 Total Expenses0 0 0 0 Revenue in excess of Expenses$0 $0 $0 $0 Break-even Analysis Net revenue per credit hour#DIV/0!#DIV/0!#DIV/0!#DIV/0! Number of students needed#DIV/0!#DIV/0!#DIV/0!#DIV/0! ................
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