Faculty/Staff Professional Development Accounts

External Funding Sources.    The College does not deposit honoraria or other funds from external entities, paid for services provided by faculty/staff outside of their regular assigned duties, into fund 240 professional development accounts.  The funds are considered taxable income to the individual performing the service and that individual should accept payment directly from the external entity.  Professional development accounts that are already in existence as of July 1, 2009, may be used to fund professional development activities of the faculty member whose work generated the funds, following the regular approval process for expenditures of College funds.  Allowable professional development expenses include travel to professional conferences, professional memberships, and subscriptions.  These funds may not be used to purchase equipment.  The funds remain the property of the College and if the faculty member for whose benefit the funds were designated leaves the College, the funds remain with the College.

Internal Funding Sources.    The College of Nursing may designate College funds as professional development funds for use by a particular faculty member.  Examples of such situations include awards given by the College and incentive payments based on practice revenue.  In those instances, the funds may be used for professional development expenses including travel to professional conferences, professional memberships, and subscriptions, following the regular approval process for expenditures of College funds.  These funds may not be used to purchase equipment.  The funds remain the property of the College and if the faculty member for whose benefit the funds were designated leaves the College, the funds remain with the College.