APPLYING FOR FUNDING
Bring YOUR eco-idea to life!
The Green Revolving Fund is an initiative set up by the Office of Sustainability for the students and employees of the University of Alaska Fairbanks. The fund was established in the summer of 2015 to increase the effectiveness of the student sustainability fee by reinvesting in the University. Between 2010-2014 students have invested 1 million dollars in sustainability projects throughout the University. The Green Revolving Fund is a new tool to help recapture those savings and reuse them to fund more sustainability projects in future years.
>> OUR FUND
>> THE PROCESS
Proposals/applications are collected by the Office of Sustainability and then submitted to the RISE Board for evaluation. The RISE Board will submit recommendations for proposal funding through the Director of Sustainability, Vice Chancellor of Student and University Advancement to the Chancellor who will make the final decision on awarding funds to projects.
Upon notification of award, the managing unit must provide appropriate accounting to the UAF Office of Sustainability (OS). This accounting may include unrestricted (F1) or capital (91) fund types, depending on the nature of the approved project. OS will transfer funds, either in part or in full, to the project’s accounting. OS is responsible for monitoring all project budget balances and funding JV preparation and approval. All GRF disbursements must include the GRF project number, a copy of the award letter, and a list of project disbursement balances in the following (or similar) format:
GRF Project # Project Title Approved Budget Disbursed Undisbursed Balance
Management of the project funding vests with the project’s responsible unit. Loan repayments will occur on the scheduled basis, or sooner if funding allows, regardless of realized cost savings. The responsible unit provides the appropriate accounting at the time it accepts the award, and Office of Sustainability prepares a journal voucher once annually in August to transfer funds to the Green Revolving Fund. While expenditure of source funds from donations and sponsored programs are handled per the terms of those programs, required project repayments involving these sources vest with the GRF.
>> PROJECT CRITERIA
Green Revolving Funds finance projects that reduce resource use (e.g., energy, water, waste) or mitigate greenhouse gas emissions (e.g., renewable energy). Category 1 projects should have demonstrated and quantifiable returns on investment and a payback period of 15 years. Longer payback periods are acceptable if the project demonstrates large carbon emission offset. Cost savings resulting from the project are returned to the
Green Revolving Fund to fund future projects. Projects must be completed within one to three years of grant allocation. Category 1 projects represent a minimum of 80% of available funds awarded during each funding cycle.
Category 2 projects have non-quantifiable savings and result in progress on sustainability
goals. Projects must demonstrate positive economic or environmental impacts on future resources, ecosystem health, and human wellbeing. Projects in this category may support education, outreach, waste reduction, support utilities or support the operation of sustainability programs. Fund allocations to Category 2 projects will not exceed 20% of total funds awarded during each funding cycle and must be completed within one year of grant allocation.
Priority is given to projects that focus on energy efficiency and renewable energy. The Green Revolving Fund may also be used for a wide variety of proposals that address issues including transportation, purchasing, waste management, sustainable design, education and curriculum, food systems, social sustainability, and processes and institutions. The chart below shows a breakdown of past funded projects by type.
- Proposals of all sizes are welcome from $100 one-time purchases, to multi-year programs requiring tens of thousands of dollars
- Minimum Fund Balance –for the GRF is $ 5,000 at all times.
- Projects that would pay faculty, staff or student salary or wages, except in association with a revolving project, are prohibited.
- Any projects with any direct budgetary or monetary benefits for anyone in approval process, including the RISE Board, Director of Sustainability, VCUSA, Chancellor, and support staff of these offices are prohibited.
- Category 1 projects represent a minimum of 80% of total available funds.
- The maximum term of the loan is twenty-five years.
- Projects must be completed within one to three years of grant allocation.
- Category 1 proposals must provide data verifying cost savings.
HOW TO APPLY
Either .doc, .pdf, or hard copies are acceptable. Electronic copies are preferred due
to the levels of review and approval, which will be done electronically. Please review
the full submission guidelines carefully. We strongly encourage you to attend the
proposal writing workshop or consult with RISE board members or the
sustainability director. It is perfectly fine to ask for help before submitting a
Printable Version Pdf and word version
Online PDF Version Pdf version
Online Word Version Doc. Version
Indented Subtitle: Deadlines
Submission deadline …................................... Oct. 18
Submission deadline …................................... Feb. 28
Submission deadline ….................................... June 6
All proposal authors are invited to have a 5-minute discussion about your idea with the
RISE board. For proposals that exceed $10,000, the authors should provide a 10-minute
presentation about their proposal to the Board. All proposal authors should contact the
Office of Sustainability to arrange presentations.
>> TERMS OF REPAYMENT
100% of all cost savings will be paid back to the fund until 120% of the original loan
amount is repaid. Example: If a loan of $10,000 is granted and saves $2000 per year,
$2000 is paid to the fund until $12,000 is returned to the GRF in six years. The
percentages of the cost savings could be shrunk or expanded depending on the project.