2004 Special Session I

Budget Amendments - SB5001 (Committee Approved)

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CWM - Faculty Salary Increase

Item 172 #6s

Item 172 #6s

First Year - FY2005 Second Year - FY2006
Education: Higher Education
The College of William and Mary in Virginia FY2005 $399,070 FY2006 $736,745 GF
FY2005 $925,720 FY2006 $1,709,022 NGF

Page 144, line 35, strike "$100,624,631" and insert "$101,949,421".
Page 144, line 35, strike "$100,285,985" and insert "$102,731,752".
Page 145, line 35, insert:
"E.  Out of this appropriation, $399,070 is provided in the first year and $736,745 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.)