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2012 Special Session I

Budget Amendments - HB1301 (Committee Approved)

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VCU HAC Package

Item 206 #1h

Item 206 #1h

First Year - FY2013 Second Year - FY2014
Education: Higher Education
Virginia Commonwealth University FY2013 ($1,082,168) FY2014 $1,096,838 GF

Language
Page 155, line 25, strike "$463,294,357" and insert "$462,212,189".
Page 155, line 25, strike "$463,309,750" and insert "$464,406,588".
Page 157, strike lines 19 through 30 and insert:
"N.1. Out of this appropriation, $3,529,842 each year from the general fund is designated for base operating support to increase the number of full-time faculty, support operations and maintenance of new facilities, and support increased library and technology costs.
2.  Out of this appropriation, $3,059,734 each year from the general fund is designated to address the projected growth in transfer students and efforts to improve retention and graduation through the University College initiative and enhanced advising.
O. Out of this appropriation, $560,025 each year from the general fund which shall be matched with a reallocation of $560,025 each year from current educational and general program funds is designated to achieve the goals of the six-year academic plan submitted by the Virginia Commonwealth University in the fall 2011.  Virginia Commonwealth University shall utilize these funds to implement development of the summer session as a "third semester" to reduce time to degree, expansion of undergraduate research opportunities, expansion of health career options through enhanced advising of pre-health and STEM majors, advancement of newly establish degree programs in the Center for Clinical and Translational Research.
P.  Out of this appropriation, $500,000 the second year from the general fund is designated for the Virginia Commonwealth University School of Pharmacy to support the Center for Compounding Practice and Research.
  The allocation will serve to purchase the compounding equipment necessary for this state of the art teaching and  research facility and will be leveraged as a matching gift with private funds.  The Center will train Pharm.D. students to meet technical compounding demands, provide continuing education to registered pharmacists and conduct ongoing research on compounded medications.
Q. Out of this appropriation, $1,679,006 the second year from the general fund is designated to support faculty and classified salary increases under the process authorized in Item 468.10 of this act."


Explanation
(This amendment reflects adjustments to higher education funding to allow colleges to achieve the goals and objectives contained in their six year academic and financial plans. Specifically, the funding will provide for enrollment growth, improving retention and graduation rates, targeted initiatives and incentives related to the Top Jobs for the 21st Century legislation and reallocation requirements within current resources. The funding provided to the colleges will also support an average two percent compensation increase for faculty and staff.)