Oversight
New and revitalized programs developed through the Program Incubator will be provided enrollment and financial oversight.
Enrollment Oversight
Enrollments and finances of the incubator will be carefully tracked, reviewed, and adjusted through quarterly meetings with the program development team, incubator coordinator, Enrollment Management, Academic Business Operations, and the Office of Finance representative. These meetings will discuss enrollment trends and projections, program content/delivery, and program expenses. Following discussion, these areas will be adjusted as needed. All program applications will contain a revenue-based sunset clause that will be agreed upon prior to seeking program approval. Failure to meet intended objectives within the specified time period may result in termination of the program at the discretion of the Provost.
Financial Oversight
A multi-year (not less than five-year) budget developed for incubator programs using a standard model will include all revenues and direct costs, and the projected net-operating surplus. Budget versus actuals will be maintained for these programs, as well as the outstanding loans and repayments. Net tuition may include a discount rate for scholarships. Direct expenses will be included in the projected budget, as well as facilities and administrative costs based on the nature of the program.
Leaving the Incubator
At the end of 5 years, a decision will be made on the program’s future. Programs that have met their targets will be placed into the home School/College’s regular budget. Until this point, all incubator program budgets will be controlled in the Provost’s office. As part of this budget regularizing process, the expenses needed to operate the program, and an estimate of revenue share will be added to the home School/College budget. Should the program later decline from anticipated enrollment, the home School/College budget will be reduced accordingly. Programs that have not met their targets will either be sunsetted or will be allowed to stay in the incubator for a longer period of time if it is thought that additional time and attention can result in expected program growth.
New and revitalized programs developed through the Program Incubator will be provided enrollment and financial oversight.
Enrollment Oversight
Enrollments and finances of the incubator will be carefully tracked, reviewed, and adjusted through quarterly meetings with the program development team, incubator coordinator, Enrollment Management, Academic Business Operations, and the Office of Finance representative. These meetings will discuss enrollment trends and projections, program content/delivery, and program expenses. Following discussion, these areas will be adjusted as needed. All program applications will contain a revenue-based sunset clause that will be agreed upon prior to seeking program approval. Failure to meet intended objectives within the specified time period may result in termination of the program at the discretion of the Provost.
Financial Oversight
A multi-year (not less than five-year) budget developed for incubator programs using a standard model will include all revenues and direct costs, and the projected net-operating surplus. Budget versus actuals will be maintained for these programs, as well as the outstanding loans and repayments. Net tuition may include a discount rate for scholarships. Direct expenses will be included in the projected budget, as well as facilities and administrative costs based on the nature of the program.
Leaving the Incubator
At the end of 5 years, a decision will be made on the program’s future. Programs that have met their targets will be placed into the home School/College’s regular budget. Until this point, all incubator program budgets will be controlled in the Provost’s office. As part of this budget regularizing process, the expenses needed to operate the program, and an estimate of revenue share will be added to the home School/College budget. Should the program later decline from anticipated enrollment, the home School/College budget will be reduced accordingly. Programs that have not met their targets will either be sunsetted or will be allowed to stay in the incubator for a longer period of time if it is thought that additional time and attention can result in expected program growth.