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2004 Session

Budget Amendments - SB30 (Committee Approved)

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CWM - VIA Base Adequacy Funding

Item 172 #5s

Item 172 #5s

First Year - FY2005 Second Year - FY2006
Education: Higher Education
The College of William and Mary in Virginia FY2005 $2,227,638 FY2006 $2,227,638 GF
FY2005 $2,484,176 FY2006 $5,002,503 NGF

Language
Page 144, line 35, strike "$100,624,631" and insert "$105,336,445".
Page 144, line 35, strike "$100,285,985" and insert "$107,516,126".
Page 145, line 35, insert:
"E.  Out of this appropriation, $2,227,638 is provided from the general fund each year to address base funding needs identified by the Joint Subcommittee Studying Higher Education Funding Policies and to mitigate the pressure on student tuition and fees.  These amounts reflect a portion of the additional general fund support needed to provide  adequate base support of the institution's core academic function. These additional funds will allow the institution to serve more students, retain existing students more effectively, increase the number of students receiving a degree or certificate, and enhance the quality and rigor of its academic programs.  The Secretary of Education shall monitor the institution's efforts to meet these objectives and other statewide needs."


Explanation
(This amendment reflects a portion of the more than $100 million earmarked annually through the "Virginia Investment Act" to begin closing the gap in base academic programs at Virginia's public colleges and universities.)