Tenured, tenure track, and Continuing Contract Faculty awarded extramural grants may, in accordance with the terms and conditions of the award and at the discretion of the department chair and Divisional Dean build into the grant budget course teaching release for a given academic year. The cost of one course release is calculated as 1/6th (16.66%) of the faculty member's 9-month academic salary. (e.g.: $80,000 academic salary will translate into $13,333 plus fringe for the release.)
If the granting agency has its own specific formula for determining a one course buyout, the Dean may allow the faculty member to buy out one course at the granting agency's rate (e.g. NIH).
A faculty member is only permitted to receive this type of teaching release using extramural (non NYU) grant funds. The teaching release portion of the faculty salary will be charged to the grant. The released funds will be transferred to FAS and, if needed, used to support a replacement instructor for the course that the faculty member would have otherwise taught.
Faculty must maintain a minimum of a one course load. They cannot buy out all their courses, or through a combination of course buyout and course release for administrative work, reduce their annual course load to zero. Family caregiver or medical leaves are excluded from this rule.
Ample time must be given to the faculty members department(s) to plan accordingly for course coverage. It is expected that the chair will be notified of the application for course release from grants by November 1st of the academic year proceeding the period of course release (e.g. November 1, 2019 for course release in academic year 2020/21). If the grant is not successful, the chair must be informed immediately upon notification so that course assignments can be adjusted to fill out the faculty members teaching load for the academic year.
All external grant applications must be processed through the NYU Office of Sponsored Programs (OSP).
Request for course release are contingent on the review and approval of the faculty member’s department chair/program director and the appropriate Divisional Dean.
Upon receiving notification of approved grant funding to be applied to course buyout, the PI or the department administrator must notify the Director of FAS Fiscal Services, Joseph Wright (firstname.lastname@example.org) with a CC to FAS Payroll (email@example.com) of the amount, period, (fall/spring), and appropriate account number to be charged. The formal administrative mechanism to process the buyout is to submit a “Payroll Change Request” form to FAS Payroll with the accounting details and a copy of the approval attached.