2004 Special Session I

Budget Amendments - HB5001 (Conference Report)

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VT Base Adequacy

Item 242 #5c

Item 242 #5c

First Year - FY2005 Second Year - FY2006
Education: Higher Education
Virginia Polytechnic Institute and State University FY2005 $4,182,727 FY2006 $8,257,349 GF

Page 181, line 28, strike "$362,411,049" and insert "$366,593,776".
Page 181, line 28, strike "$361,243,110" and insert "$369,500,459".
Page 182, after line 50, insert:
"J.1. Out of this appropriation, $4,182,727 the first year and $8,257,349 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.
2. Out of this appropriation, the University may allocate funds to support the mobile chemistry laboratory program."

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