2004 Special Session I

Budget Amendments - SB5001 (Committee Approved)

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VCU - VIA Base Adequacy Funding

Item 225 #11s

Item 225 #11s

First Year - FY2005 Second Year - FY2006
Education: Higher Education
Virginia Commonwealth University FY2005 $14,086,902 FY2006 $14,086,902 GF
FY2005 $6,469,808 FY2006 $13,263,107 NGF

Page 168, line 43, strike "$316,689,832" and insert "$337,246,542".
Page 168, line 43, strike "$328,929,473" and insert "$356,279,482".
Page 173, line 8, insert:
"Q.  Out of this appropriation, $14,086,902 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.)