2004 Session

Budget Amendments - SB30 (Committee Approved)

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VT - Faculty Salary Increase

Item 242 #5s

Item 242 #5s

First Year - FY2005 Second Year - FY2006
Education: Higher Education
Virginia Polytechnic Institute and State University FY2005 $1,234,679 FY2006 $2,279,408 GF
FY2005 $2,233,194 FY2006 $5,081,469 NGF

Page 181, line 28, strike "$362,411,049" and insert "$365,878,922".
Page 181, line 28, strike "$361,243,110" and insert "$368,603,987".
Page 182, line 51, insert:
"J.  Out of this appropriation, $1,234,679 is provided in the first year and $2,279,408 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.)