2004 Session

Budget Amendments - SB30 (Committee Approved)

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ODU - Faculty Salary Increase

Item 204 #8s

Item 204 #8s

First Year - FY2005 Second Year - FY2006
Education: Higher Education
Old Dominion University FY2005 $623,720 FY2006 $1,151,484 GF
FY2005 $893,567 FY2006 $1,649,662 NGF

Page 157, line 26, strike "$145,939,158" and insert "$147,456,445".
Page 157, line 26, strike "$149,163,120" and insert "$151,964,266".
Page 159, line 21, insert:
"K.  Out of this appropriation, $623,720 is provided in the first year and $1,151,484 is provided in the second year from the general fund for the state share of a three percent salary increase for all faculty, effective November 25, 2004.  In combination with these funds, the University, with approval from its governing board, may use nongeneral fund revenues to support up to an additional 1.5 percent salary increase for teaching and research faculty, effective November 25, 2004.  This additional authority is provided to assist the institution in addressing issues of faculty retention and recruitment and to begin raising average salaries for teaching and research faculty to the 60th percentile of peer institutions by the end of the decade."

(This amendment is self-explanatory.)