2004 Special Session I

Budget Amendments - SB5001 (Committee Approved)

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UVA - VIA Base Adequacy Funding

Item 213 #11s

Item 213 #11s

First Year - FY2005 Second Year - FY2006
Education: Higher Education
University of Virginia FY2005 $7,686,315 FY2006 $7,686,315 GF
FY2005 $9,273,040 FY2006 $18,917,002 NGF

Page 162, line 8, strike "$362,362,301" and insert "$379,321,656".
Page 162, line 8, strike "$372,357,689" and insert "$398,961,006".
Page 165, line 35, insert:
"O.1.  Out of this appropriation, $7,686,315 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.
2.  Out of this appropriation, the University may allocate funds to attract and retain distinguished faculty clinicians associated with the School of Medicine and the University's related health professional programs."

(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.)