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.