2004 Special Session I

Budget Amendments - SB5001 (Committee Approved)

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RU - VIA Base Adequacy Funding

Item 208 #7s

Item 208 #7s

First Year - FY2005 Second Year - FY2006
Education: Higher Education
Radford University FY2005 $5,571,645 FY2006 $5,571,645 GF
FY2005 $1,214,496 FY2006 $2,477,573 NGF

Page 160, line 25, strike "$64,460,612" and insert "$71,246,753".
Page 160, line 25, strike "$65,754,529" and insert "$73,803,747".
Page 161, line 4, insert:
"D.  Out of this appropriation, $5,571,645 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.)