2004 Special Session I

Budget Amendments - SB5001 (Committee Approved)

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ODU - VIA Base Adequacy Funding

Item 204 #6s

Item 204 #6s

First Year - FY2005 Second Year - FY2006
Education: Higher Education
Old Dominion University FY2005 $11,660,544 FY2006 $11,660,544 GF
FY2005 $2,827,035 FY2006 $5,767,152 NGF

Page 157, line 26, strike "$145,939,158" and insert "$160,426,737".
Page 157, line 26, strike "$149,163,120" and insert "$166,590,816".
Page 159, line 21, insert:
"K.  Out of this appropriation, $11,660,544 is provided from the general fund each year 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 reflects a portion of the more than $100 million earmarked annually through the "Virginia Investment Act" to begin closing the gap in base academic programs at Virginia's public colleges and universities.)