2004 Special Session I

Budget Amendments - SB5001 (Committee Approved)

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MWC - Faculty Salary Increase

Item 194 #7s

Item 194 #7s

First Year - FY2005 Second Year - FY2006
Education: Higher Education
Mary Washington College FY2005 $156,959 FY2006 $289,771 GF
FY2005 $266,590 FY2006 $492,166 NGF

Page 153, line 24, strike "$36,497,598" and insert "$36,921,147".
Page 153, line 24, strike "$36,494,738" and insert "$37,276,675".
Page 154 line 1, insert:
"C.  Out of this appropriation, $156,959 is provided in the first year and $289,771 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.)