Ryan told board members that his biggest concern right now is figuring out where to start and the order in which to tackle the projects.

“We simply can’t start 40 projects all at once,” Ryan said.

In addition to donations, state dollars and other resources, the university’s Strategic Investment Fund will be a significant funding source for implementing aspects of the plan, according to Friday’s presentation.

The SIF — which was started in 2016 — is aimed at supporting transformational projects. On Friday, the Board of Visitors gave senior leadership more flexibility in spending money from the fund and to ensure it goes toward the strategic plan.

Under the new guidelines, the board will approve three-year funding plans at a strategic level, but the line-item allocations will be up to senior officials. Previously, board members would have approved those expenditures, as well.

Magill said those items still will be part of the annual budget. Ryan and other officials also will have the ability to adjust the funding plan by as much as $15 million without full board approval.