Enterprise Account for Distance Learning (language only)

Item 242 #1c

Language
Page 194, after line 14, insert:
"Virginia Polytechnic Institute and State University is authorized to establish a self-supporting "instructional enterprise" fund to account for the revenues and expenditures of the Institute for Distance and Distributed Learning (IDDL) classes offered to students at locations outside the Commonwealth of Virginia.  Consistent with the self-supporting concept of an "enterprise fund," student tuition and fee revenues for IDDL students at locations outside Virginia shall exceed all direct and indirect costs of providing instruction to those students.  The Board of Visitors shall set tuition and fee rates to meet this requirement and shall set other policies regarding the IDDL as may be appropriate.  Revenue and expenditures of the fund shall be accounted for in such a manner as to be auditable by the Auditor of Public Accounts.  Revenues in excess of expenditures shall be retained in the fund to support the entire IDDL program.  Full-time equivalent students generated through these programs shall be accounted for separately.  Additionally, revenues which remain unexpended on the last day of the previous biennium and the last day of the first year of the current biennium shall be reappropriated and allotted for expenditure in the respective succeeding fiscal year."

Explanation
(This amendment allows the Board of Visitors at Virginia Tech to establish a separate, self-supporting fund for its distance education program and to set tuition for nonresident students at rates that account for all direct and indirect costs of providing instruction to those students.)