Sustainability Initiatives Revolving Fund (SIRF): Committee

The SIRF committee is comprised of seven, ASU senior administrators from the following diverse disciplines:

  • Facilities Development and Management
  • Financial Services
  • Office of Planning and Budget
  • University Sustainability Operations
  • W.P. Carey School of Business Department, Economics Chair

The SIRF committee provides oversight and convenes

  • Monthly to review and approve project requests recommended by FDM and OPB
  • Quarterly to review project progress reports

The SIRF committee has the authority to approve projects up to $100,000.  For SIRF funding more than $100,000 the CFO approval is also required.  Engineering seed funds are evaluated on a project-by-project basis.

The SIRF committee approved minimum thresholds for the following financial metrics to obtain funding for Tier 2 and 3 projects:

  • NPV: Greater than $10,000
  • IRR: Greater than 8 percent
  • Payback: Less than 5 years for projects less than $500k; less than 10 years for projects more than $500k

To date projects have been funded on all campuses.  Approved project funding and benefit commitments are incorporated into ASU’s annual budget and multi-year planning.

ASU is a Founding Circle institution of the Billion Dollar Green Challenge hosted by the Sustainable Endowments Institute, a special project of Rockefeller Philanthropy Advisors.