2004 Special Session I

Budget Amendments - SB5001 (Committee Approved)

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RU - Faculty Salary Increase

Item 208 #9s

Item 208 #9s

First Year - FY2005 Second Year - FY2006
Education: Higher Education
Radford University FY2005 $311,173 FY2006 $574,473 GF
FY2005 $411,649 FY2006 $759,967 NGF

Page 160, line 25, strike "$64,460,612" and insert "$65,183,434".
Page 160, line 25, strike "$65,754,529" and insert "$67,088,969".
Page 161, line 4, insert:
"D.  Out of this appropriation, $311,173 is provided in the first year and $574,473 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.)