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2005 Session

Budget Amendments - SB700 (Committee Approved)

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VCU - Redirect Gov's Base Adequacy

Item 225 #4s

Item 225 #4s

First Year - FY2005 Second Year - FY2006
Education: Higher Education
Virginia Commonwealth University FY2005 $0 FY2006 ($453,578) GF

Language
Page 206, line 7, strike "$369,458,572" and insert "$369,004,994".
Page 210, line 21, strike "$15,864,756" and insert "$15,411,178".
Page 210, line 29, after "students" strike "," and insert ";".
Page 210, line 30, after "effectively" strike "," and insert ";".
Page 210, line 31, after "certificate," insert:  "particularly in fields where the Commonwealth faces critical workforce shortages;"


Explanation
(This amendment provides for a reduction of $453,578 from the general fund in the second year in order to redirect those funds to raising average faculty salaries at Virginia's public colleges and universities to the 60th percentile of peer institutions nationally by the end of the decade. The Governor had earmarked these funds in Senate Bill 700, as introduced, to reflect an increase in the number of graduates at the institution over the last two years. Language has been added to clarify the General Assembly's intention that the institution should place a priority on increasing the number of students graduating with degrees, particularly in fields, such as nursing and education, where the Commonwealth faces critical workforce shortages.)