2004 Special Session I

Budget Amendments - HB5001 (Conference Report)

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MWC - Increase NGF Authority

Item 194 #2c

Item 194 #2c

First Year - FY2005 Second Year - FY2006
Education: Higher Education
Mary Washington College FY2005 $3,635,823 FY2006 $5,048,456 NGF

Page 153, line 24, strike "$36,497,598" and insert "$40,133,421".
Page 153, line 24, strike "$36,494,738" and insert "$41,543,194".
Page 153, after line 52, insert:
"C. The University of Mary Washington shall report to the State Council of Higher Education for Virginia no later than May 1 of each year its tuition, fee, and all other nongeneral fund revenues, in a manner as prescribed by the State Council of Higher Education for Virginia.  The report shall include revenues from the current fiscal year and a projection of anticipated revenues for the next fiscal year."

(This amendment, in conjunction with the nongeneral fund appropriation included in the introduced budget, provides for the nongeneral fund share of support needed to begin moving towards full funding of the base adequacy guidelines adopted by the Joint Subcommittee Studying Higher Education Funding Policies, to make progress on returning average faculty salaries to the 60th percentile of peer institutions nationally, and to provide funding needed to meet anticipated operating cost increases over the biennium.)