2005 Session

Budget Amendments - SB700 (Conference Report)

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VCU - Faculty Salaries

Item 225 #3c

Item 225 #3c

First Year - FY2005 Second Year - FY2006
Education: Higher Education
Virginia Commonwealth University FY2005 $0 FY2006 $697,289 GF

Page 206, line 7, strike "$369,458,572" and insert "$370,155,861".

(This amendment provides $697,289 from the general fund in the second year to supplement funding provided for faculty salary increases in the budget, as introduced. In an effort to bring average faculty salaries to the 60th percentile of peer institutions by the end of the decade, these funds will provide teaching and research faculty at the University with an average 4.5 percent increase in fiscal year 2006. This amendment also includes: (i) funding for a 4.0 percent salary increase for all administrative faculty, part-time faculty, and graduate assistants and (ii) funds for providing increases to faculty in the University's family practice program. Salary increases shall be effective November 25, 2005.)