1

/ Initial Budgetary Forecast
(IBF) Form

The IBF form is required when proposing one of the curriculum actions listed below.

Please complete this form prior to the submission of Form 1 or Form 4 curriculum proposal to the Chair of the Faculty Curriculum Council (undergraduate) or Graduate Curriculum Council.

Select Action: / New Degree Program / New Major / New Concentration
New Cognate / New Stand-Alone Minor / New Certificate[1]
Title of New Degree Program, Major, Concentration, Cognate, Stand-Alone Minor, or Certificate:
College/School/Center or Department Initiating Change:
Originator of this Proposal:
Delivery Format: / Resident Online Both / Proposed
Implementation Date:
  1. New Courses required for implementation of the proposed program (include course number(s), title(s), credit hours).

List New Courses/Titles/Credit Hours:

  1. Faculty. Using the Faculty Roster form, include list of currently employed qualified faculty and credentials who are available to teach in the proposed program. Please note that faculty must have the required teaching credentials for course assignments.

List available credentialed faculty:

  1. Are new/additional faculty needed to offer the proposed program?

Yes No

  1. If yes, please explain.
  1. Provide a rationale (needs assessment) for the proposed program that includes:
  1. The potential to attract new students (defined as those who might not otherwise choose Liberty).
  1. How theproposed program aligns with the University Statement of Mission and Purpose.
  1. How theproposed program supports Liberty’s Strategic Plan.
  1. Attach a draft copy of a Degree Completion Plan (DCP) as appropriate.
  1. Project for the first three years the financial commitment required by the University to implement the program in each of the areas shown on the “Projected Statement of Activities for (Name of Program) Proposal” form (see Sample on last page). If a category of expenditure does not apply, simply insert DNA.

In order to take advantage of the embedded formulae in the form, please obtain an electronic copy of the form from the appropriate Curriculum Chair.

Submitted by:

Department Chair/Associate Dean Date

Comments:

Dean/Director Date

Comments:

Review by Vice Provost of College/School Submitting the IBF:
  1. What action is required by Liberty University for the proposed program according to SACSCOC requirements?
Refer to policy at:
Completion of the substantive change prospectus
Notification only
No action necessary
Vice Provost of College/School Date
Review by Vice Provost for Academic Operations:
Dr. Kevin Corsini Date
Comments:
Approval to Proceed with the Proposal:
Dr. Ronald Hawkins Date
Provost
Comments:
Mr. Jerry Falwell, President[2] Date
Comments:

Office of the Vice President for Academic Affairs/ProvostRevised 9/21/2015

1

SAMPLE SPREADSHEET

Liberty University
(Name of Program Department)
Projected Statement of Activities for (Name of Program) Proposal
First Year / Second Year / Third Year / Total
Assumptions:
Number of Students
Resident / 0 / 0 / 0 / 0
Online / 0 / 0 / 0 / 0
Number of Credit Hours per Year
Resident / 0 / 0 / 0 / 0
Online / 0 / 0 / 0 / 0
Tuition Credit Hour Rate
Resident / $0 / $0 / $0 / $0
Online / $0 / $0 / $0 / $0
Institutional Discount Rate / 0.0% / 0.0% / 0.0%
Revenue
Tuition / $0 / $0 / $0 / $0
Institutional scholarships / 0 / 0 / 0 / 0
Net tuition / 0 / 0 / 0 / 0
Lab fees / 0 / 0 / 0 / 0
Grants income / 0 / 0 / 0 / 0
Endowment income / 0 / 0 / 0 / 0
Donations / 0 / 0 / 0 / 0
Other income / 0 / 0 / 0 / 0
Net Revenue / $0 / $0 / $0 / $0
Expense
Faculty salaries / 0 / 0 / 0 / 0
Faculty Benefits / 0 / 0 / 0 / 0
Scholarships- GTA / 0 / 0 / 0 / 0
GTA stipend / 0 / 0 / 0 / 0
GTA Benefits / 0 / 0 / 0 / 0
Staff salaries & wages / 0 / 0 / 0 / 0
Staff Benefits / 0 / 0 / 0 / 0
Instructional materials and supplies / 0 / 0 / 0 / 0
Professional Development / 0 / 0 / 0 / 0
Library Resources / 0 / 0 / 0 / 0
Course Development / 0 / 0 / 0 / 0
Advertising and marketing / 0 / 0 / 0 / 0
Maintenance / 0 / 0 / 0 / 0
Space Constructions Costs / 0 / 0 / 0 / 0
Lecture Series / 0 / 0 / 0 / 0
Faculty Office Setup Costs / 0 / 0 / 0 / 0
GTA Office Setup Costs / 0 / 0 / 0 / 0
Total Expenses / 0 / 0 / 0 / 0
Revenue in excess of Expenses / $0 / $0 / $0 / $0
Break-even Analysis
Net revenue per credit hour / #DIV/0! / #DIV/0! / #DIV/0! / #DIV/0!
Number of students needed / #DIV/0! / #DIV/0! / #DIV/0! / #DIV/0!

[1] A new certificate is comprised of new unique courses that are not part of an existing program or major. Note that Financial Aid will not be available for a new certificate until the curriculum has been offered for one year.

[2] The President’s signature is required when a major financial commitment by the University is proposed.