2004 Special Session I

Budget Amendments - SB5001 (Committee Approved)

View Budget Item
View Budget Item amendments

VT-E - Faculty Salary Increase

Item 246 #4s

Item 246 #4s

First Year - FY2005 Second Year - FY2006
Education: Higher Education
Virginia Cooperative Extension and Agricultural Experiment Station FY2005 $628,440 FY2006 $1,160,197 GF
FY2005 $170,102 FY2006 $314,034 NGF

Page 184, line 39, strike "$71,748,805" and insert "$72,547,347".
Page 184, line 39, strike "$72,023,805" and insert "$73,498,036".
Page 185, line 27, insert:
"E.  Out of this appropriation, $628,440 is provided in the first year and $1,160,197 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.)