2004 Session

Budget Amendments - SB30 (Committee Approved)

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VCU - Faculty Salary Increase

Item 225 #13s

Item 225 #13s

First Year - FY2005 Second Year - FY2006
Education: Higher Education
Virginia Commonwealth University FY2005 $1,521,646 FY2006 $2,809,193 GF
FY2005 $2,042,941 FY2006 $3,771,584 NGF

Page 168, line 43, strike "$316,689,832" and insert "$320,254,419".
Page 168, line 43, strike "$328,929,473" and insert "$335,510,250".
Page 173, line 8, insert:
"Q.  Out of this appropriation, $1,521,646 is provided in the first year and $2,809,193 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.)