2003 Session

Budget Amendments - SB700 (Committee Approved)

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2% Salary Increase

Item 511 #3s

Item 511 #3s

First Year - FY2003 Second Year - FY2004
Central Appropriations
Central Appropriations FY2003 $0 FY2004 $52,450,000 GF

Page 476, line 26, strike "($16,723,273)" and insert "$35,726,727".
Page 479, after line 52, insert:
"J.1.  This appropriation includes $52,450,000 to provide a 2 percent increase in base compensation on November 25,  2003 and December 1, 2003, respectively for:
2. State classified employees, as established in subparagraphs 2 a through 2 d of paragraph B of this item;
3.  Teaching and Research and Administrative faculty of state-supported institutions of higher education, and;
4. State-supported local employees as set out in subparagraph 2 e of paragraph B of this item.
5. Included in the amounts provided in this paragraph is $16,200,000 which shall be transferred to the Department of Education.  It is the intent of the General Assembly that these funds be combined with half of the additional Lottery profits over the amount in Chapter 899, 2002 Acts of Assembly, estimated at $8,132,356, for a total of $24,332,356. The $16,200,000 appropriated in this paragraph shall be provided to school divisions which certify to the Department of Education, no later than March 1, 2004, that salary increases of 2 percent for instructional and support staff employed by local school divisions effective on January 1, 2004 have been granted in FY 2004.
6. Not later than August 15, 2003, the Governor shall prepare a revised general fund revenue forecast for the fiscal year 2003-2004, as provided for in section 2.2-1503 of the Code of Virginia, based on actual general fund revenue collections for fiscal year 2002-2003 and the most recent data on the national and state economic outlook for fiscal year 2003-2004.  Following the preparation of this forecast, the salary actions authorized in Paragraphs J.1, J.2, J.3, J.4 and that portion of the amount in paragraph J.5. that is provided in this item, may be decreased as one of the actions taken to reduce the general fund budget by the amount that is required to offset a further downward revision of the 2003-2004 revenue estimate prepared subsequent to February 22, 2003."

(This amendment provides for a second year salary increase of 2 percent for state classified employees, faculty, state-supported local employees, and teachers.)