I definitely second Jim's recommendations about conferences -- DETCHE is a great conference to attend!
An easy authoring tool is a must, but you would need to make certain that you can support it. Also, as someone else recommended -- start with a Camtasia license or two. A good microphone helps as well -- the Blue Snowball is a great and affordable tool that gives you very good results.
One thing that colleges do is they go overboard on tools. Maybe getting your faculty/DE Committee together to brainstorm what the campus really needs? Can you all vet a few tools and decide what would work best (and be most easily supported) by your current staff?
Another thing would be potential faculty stipends for training (or PD credit if your campus/HR folks grant it). If faculty, for example, are going to have external training, how would the campus support that?
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