POLICY ON USE OF THE UNIVERSITY OPPORTUNITY FUND
Approved November 18, 1977
Updated September 22, 2005

1. That beginning in 1979-80, the University Opportunity Fund be used to enhance the quality of University programs through projects which continue to meet the following objectives:

a. extend research opportunities;
b. encourage instructional innovation and improvement;
c. promote sound administrative planning; and
d. meet mandated and other recognized University responsibilities

2. That maximum expenditure levels for each of the above-listed four objectives be established annually by The Regents on the recommendation of the President as a part of the regular budgetary process, and that allocation of Fund income be made by the President subject to Regental review of progress toward the objectives;

3. That Fund income be used so as to minimize support of programs which are considered to be the legitimate responsibility of the state or federal government; and

4. That unexpended University Opportunity Fund balances be reserved annually until the University develops an adequate capacity to meet fluctuations in Fund income resulting from changes in levels of contract and grant activity, appropriate reservation levels to be established in the annual budget discussion with The Regents.