The task force, which was formed last spring, is composed of 24 faculty members, administrators, staff members and students.
Once a final draft has been written, the proposal will be submitted to several administrative review boards.
Chancellor James Moeser has asked the task force to have a final plan by the end of October. The group's next meeting is slated for Oct. 21.
Committee members broke the plan into seven areas: academic strengths; intellectual climate; interdisciplinary education, research and service; faculty development; engagement; international affairs; and diversity.
"The committee is elaborating (on the seven areas) and identifying measurable goals, which will track the University's progress toward realizing the plan," said Professor Darryl Gless, co-chairman of the task force.
Several members of the task force seemed satisfied with the overall size of the University but raised concerns about the student-teacher ratio, which is 15-1.
Richard Superfine, professor of physics and astronomy, said he believes the University needs more faculty. But to attract additional faculty members, UNC would need more undergraduates, Superfine said.
One goal of the committee is to bring the intellectual life closer to the students to overcome the sense of isolation between "living and learning."
Suggestions include placing classes in the South Campus residence halls, expanding the Honors Program and re-evaluating the strategic placement of students in residence halls.