C-124#1c (VSU) Provides additional maintenance reserve funds. HB1500 - Conference Report

State Budget

2005 Session

Budget Amendments - HB1500 (Conference Report)

Bill Order » Item C-124 #1c

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Provides additional maintenance reserve funds (language only)

Item C-124 #1c

Item C-124 #1c
Education: Higher Education
Virginia State University

Language
Page 520, line 45, before "It", insert "1."
Page 520, after line 48, insert:
"2. Virginia State University may use up to 50 percent of its maintenance reserve funds to address critical health and safety deficiencies in its Student Village residence halls."

Explanation
(This amendment provides Virginia State University the authority to earmark up to half of its maintenance reserve funds to address a recurring mold problem in some of its dormitories.)

Item C-124

Item C-124	First Year - FY2005	Second Year - FY2006
Improvements: Maintenance Reserve (12733)	~~$1,202,000~~ $3,606,000	$1,202,000
Fund Sources:
General	FY2005 ~~$1,202,000~~ $3,606,000	FY2006 $1,202,000

It is acknowledged that the second year appropriation of $1,202,000 was transferred administratively from the second year to the first year resulting in a total appropriation of $4,808,000 in the first year.