UNM's Vice President for Research Julia Fulghum has succeeded in rebalancing the books in the office with the aid of faculty members across the university.
When faculty members receive grants from the federal granting agencies, a small portion of the money is withheld from the grant for facilities and administration costs and used to fund the Office of the Vice President, pay for staff to assist in grant applications and cover other expenses.
When the budget was put together for FY 2010, F & A costs were estimated at $18.3 million. But UNM faculty members were so successful in competitive grant applications that more than $19.2 million was generated.
The money has been spent to retire debt in the Office of the Vice President for Research, return money to schools and colleges and for research initiatives. The units received $452,000 in loan repayment money and another $300,000 for association research costs.
Another $150,000 will be used for new research initiatives. Fulghum plans to announce details in early in the fall semester.