Three initiatives related to Missouri University of Science and Technology’s new strategic plan will be fully funded through the University of Missouri system, UM System President Timothy Wolfe announced Aug. 30.
Missouri S&T will receive $3,202,000 in new funding to support the three initiatives, which will not be announced until Monday, Sept. 9, when Dr. Cheryl B. Schrader, chancellor of Missouri S&T, will discuss them in detail during her State of the University address.
That address is scheduled to be delivered at noon Sept. 9 in the Leach Theatre of Castleman Hall on the Missouri S&T campus, located at 10th and Main streets in Rolla.
“This is wonderful news for our campus, and I look forward to sharing more information during my State of the University address about how this funding will help us address many of the key actions of our strategic plan,” Schrader said.
“Since the summer of 2012, thousands of individuals – including our students and alumni, faculty, staff, and business and research partners – have been involved in developing a strategic plan that is highly focused on meeting the needs of our customers while demonstrating Missouri S&T’s high return on investment to these customers,” she said.
“Every individual who has been involved in our strategic planning process should take pride in knowing that your hard work has yielded this additional investment into our campus priorities,” the chancellor added.
“I am pleased at the progress made by our chancellors and their teams in articulating the strategic priorities for each of their campuses and reaching today’s (Aug. 30) major milestone of allocating dollars to assist them in furthering those priorities,” Wolfe said.
“Our strategic planning process was designed to enhance the plans of our campuses in their goal of retaining or enhancing best-in-class status. Today’s (Aug. 30) announcement is further evidence that we are now executing those plans,” he added.
Missouri S&T’s planning process was led by Provost Warren K. Wray and Dr. James Drallmeier, chair of mechanical and aerospace engineering.
Working with Schrader and other S&T leaders, they submitted the three strategic funding requests to Wolfe earlier this summer. Leaders of the other three University of Missouri system campuses and the system also submitted funding requests.
A total of $22,172,750 in new funding is being distributed to the other three UM campuses and system, including $13,610,000 to the University of Missouri-Columbia of which $10.67 million was appropriated specifically for a new medical school program and the College of Veterinary Medicine large animal program; $2,165,000 to the University of Missouri-St. Louis; $2,612,750 to the University of Missouri-Kansas City; and $583,000 to the UM system.
Each request was reviewed and analyzed through a process that involved input from each of the chancellors. Final decisions on funding were based on the criteria for strategic financial investment that were agreed upon by Wolfe and the chancellors in April.