Historic Allocation of IRA Funds

In the past, IRA programs deemed of “University Interest” (typically programs having a broad community based appeal that enhances the reputation of the University within the community) have been given first priority for funding. Most of the remaining funds have then been distributed to the colleges and Student Affairs based on historical subsidy levels for allocation to individual IRA programs by the deans and the Vice President for Student Affairs (VPSA) in consultation with their Student Councils or equivalent. A small portion of the funds has been held back to supplement funding for newly recognized programs, to address special one-time needs, and for administration and contingencies.

The 2006 IRA fee increase stipulated that existing IRA programs would receive first priority for funding. After providing for reserves and contingencies (“Net Funds Available for Distribution”), 75% of the remaining funds available would be allocated to the colleges based on college student enrollments (headcounts). The colleges would then determine the allocation of these funds to recognized IRA programs within their college, depositing unspent funds in college-specific reserve accounts. The remaining 25% of Net Funds Available for Distribution would be retained by the IRAAC to provide funding for new or expanded University Interest programs, including IRA-eligible programs offered by Student Life and Leadership.