2004 Special Session I

Budget Amendments - HB5001 (Conference Report)

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VCU Base Adequacy

Item 225 #9c

Item 225 #9c

First Year - FY2005 Second Year - FY2006
Education: Higher Education
Virginia Commonwealth University FY2005 $7,202,141 FY2006 $15,097,866 GF

Page 168, line 43, strike "$316,689,832" and insert "$323,891,973".
Page 168, line 43, strike "$328,929,473" and insert "$344,027,339".
Page 173, after line 7, insert:
"Q. Out of this appropriation, $7,202,141 the first year and $15,097,866 the second year from the general fund is provided 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."

(This amendment provides additional general fund support to address base operating needs and increased student enrollments. The corresponding nongeneral fund share is included as part of a separate amendment.)