2004 Special Session I

Budget Amendments - SB5001 (Committee Approved)

View Budget Item
View Budget Item amendments

VT - VIA Base Adequacy Funding

Item 242 #3s

Item 242 #3s

First Year - FY2005 Second Year - FY2006
Education: Higher Education
Virginia Polytechnic Institute and State University FY2005 $8,221,211 FY2006 $8,221,211 GF
FY2005 $8,638,192 FY2006 $17,708,294 NGF

Page 181, line 28, strike "$362,411,049" and insert "$379,270,452".
Page 181, line 28, strike "$361,243,110" and insert "$387,172,615".
Page 182, line 51, insert:
"J.  Out of this appropriation, $8,221,211 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.)