University of Illinois at Urbana-Champaign

Carle Illinois College of Medicine

Financial Opportunities to Support the Academic Growth & Missions of Carle Illinois

Maintain a sustainable financial model that allows for achieving the Carle Illinois College of Medicine’s educational, research, innovation, and community impact goals.

Key objectives we will focus on over the next 5 years include

Improve unit budget transparency and accountability processes with quarterly updates.

Actions:

Implement online financial system implemented with MARS system.

Increase philanthropy and corporate funding to current centers/programs/scholarships as well as for creation of new centers and programs in the medical school.

Actions:

Increase philanthropy and corporate funding for centers and programs at the medical school, includes global consortium and translational tissue engineering center.

Explore funding opportunities from tuition through online programs and certificates, new post-baccalaureate programs, dual degree offerings and licensing curricular programs and certificates to international partners.

Actions:

Create IFG proposal to expand offering for additional programs.

Align our strategic plan with financial projections and current expenses to better prioritize efforts as well as predict expenses and growth strategy.

Actions:

Creation of citizenship and faculty expectations.
Align our strategic plan with financial projections and current expenses to better prioritize effort as well as predict expenses and growth strategy.

Establish an advisory board comprised of external stakeholders, including community leaders, corporate executives, and philanthropists.

Actions:

Establish an advisory board compromised of external stakeholders, including community leaders, corporate executives and philanthropists.

Create a forward-thinking memorandum of understanding (MoU) for sustaining and growing the academic mission between the college of medicine, the provost and chancellor, and Carle Health.

Actions:

Create a new MOU with the College, the University and Carle Health.

Adapt best practices from peer medical schools and review data available from AAMC and other sources to perform benchmarking as well as utilize AAMC resources and consultants to help align financial planning with mission prioritization and the college’s growth strategy.

Actions:

Connect with colleagues to learn more about best practices ad benchmarking utilizing AAMC resources.

Explore opportunities for increased state funding for Carle Illinois College of Medicine.

Actions:

Explore and create more core funding opportunities.