VMI Base Adjustment

Item 215 #1c

Language
Page 184, line 22, strike "$28,096,739" and insert "$28,206,994".
Page 184, line 22, strike "$28,347,911" and insert "$28,515,091".
Page 184, line 33, before "This" insert "A."
Page 184, after line 38, insert:
"B. As Virginia’s public colleges and universities approach full funding of the base adequacy guidelines and as the General Assembly strives to fully fund the general fund share of the base adequacy guidelines, these funds are provided with the intent that, in exercising their authority to set tuition and fees, the Board of Visitors shall take into consideration the impact of escalating college costs for Virginia students and families.  In accordance with the cost-sharing goals set forth in § 4-2.01 b. of this act, the Board of Visitors is encouraged to limit increases on tuition and mandatory educational and general fees for in-state, undergraduate students to the extent possible."

Explanation
(This amendment adjusts the amounts provided in the introduced budget to reflect the General Assembly's higher education base funding guidelines. The introduced budget did not allocate funding with the methodology that has been adopted by the General Assembly.)