2004 Special Session I

Budget Amendments - SB5001 (Committee Approved)

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VSU- VIA Base Adequacy Funding

Item 247 #5s

Item 247 #5s

First Year - FY2005 Second Year - FY2006
Education: Higher Education
Virginia State University FY2005 $536,564 FY2006 $536,564 GF
FY2005 $1,661,721 FY2006 $3,456,380 NGF

Page 185, line 43, strike "$46,022,902" and insert "$48,221,187".
Page 185, line 43, strike "$45,978,142" and insert "$49,971,086".
Page 187, line 1, insert:
"E.  Out of this appropriation, $536,564 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.)