Faculty Diversity Incentive
Goal: To provide incentives to departments and programs which hire and retain faculty of racial and ethnic backgrounds under-represented in Medicine.
Races and ethnicities under-represented in medicine will be defined in accordance with the AAMC criteria as modified by the WUSM Faculty Diversity Committee (FDC)
Note: No disbursement of these funds will occur if School of Medicine Administration and the FDC have not approved eligibility for said faculty members.
The Associate Dean for Faculty Affairs will convey the approved package to the Assistant Dean for Finance. The Office of Resource Planning and Analysis (RP&A) will be responsible for transferring the funds to the department and tracking the status of all packages awarded under this initiative.
Distributions will be made in accordance with the funding commitment per the approved package with no adjustments for subsequent changes to the recruit’s salary or startup costs. The first transfer will be made to the department on or near the new recruit’s hire date. The first year’s funding will be prorated if the hire date falls in the middle of the fiscal year, with the balance transferred in the fourth year. (For example, if the new recruit starts in July, the entire first year’s funding will be distributed in that fiscal year. If the new recruit starts in November, eight months’ funding will be transferred in the first fiscal year, a full year’s funding in the second and third fiscal years and the remaining four months’ funding in the fourth fiscal year). This has the advantage of allowing both School and Departmental staff to reach agreement on the amounts at budget time. Funds will be transferred to a carryforward (93xxx) fund in the department via 9103/9104 transfer codes.
In the event the new recruit does not complete the full years’ employment, any unexpended funds will be returned to the pool and future distributions would be cancelled.