2004 Special Session I

Budget Amendments - HB5001 (Conference Report)

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VSU - NGF Authority Reporting Language

Item 247 #2c

Item 247 #2c

First Year - FY2005 Second Year - FY2006
Education: Higher Education
Virginia State University FY2005 $1,534,896 FY2006 $2,900,709 NGF

Page 185, line 43, strike "$46,022,902" and insert "$47,557,798".
Page 185, line 43, strike "$45,978,142" and insert "$48,878,851".
Page 186, after line 53, insert:
"E. Virginia State University 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.)