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Flexibility

7. The Faculty and Deans of the various schools should be given more flexibility in accumulating funds for entrepreneurial activities.

While maintaining budget integrity and staying true to core values, the schools should be given the freedom to re allocate resources to free funds for entrepreneurial investments.

As one example, the units should be allowed considerable control of salary savings that result from retirement of professors.

Another example would be the accrual of funds saved by the delayed replacement of a faculty member that had been mutually agreed by the Dean and Department/Unit faculty.

The Universities accounting policies should allow accumulation of funds over more than one fiscal year to encourage entrepreneurial projects or for purposes like obtaining start-up funds for new faculty.