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2012 Special Session I

Budget Amendments - HB1301 (Committee Approved)

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VSU HAC Package

Item 229 #2h

Item 229 #2h

First Year - FY2013 Second Year - FY2014
Education: Higher Education
Virginia State University FY2013 $196,434 FY2014 $396,834 GF

Language
Page 169, line 41, strike "$68,559,111" and insert "$68,755,545".
Page 169, line 41, strike "$68,560,482" and insert "$68,957,316".
Page 170, strike lines 36 through 50 and insert:
"G.1. Out of this appropriation, $447,955 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, $930,907 each year from the general fund is designated to address the projected growth in transfer students and efforts to improve retention and graduation through enhanced advising, summer bridge programs the VSU Cohort Program.
H. Out of this appropriation, $430,033 each year from the general fund which shall be matched with a reallocation of $203,590 each year from current educational and general program funds is designated to achieve the goals of the six-year academic plan submitted by Virginia State University in the fall 2011.  Virginia State University shall utilize these funds to restructure the summer session and create a hybrid trimester system in order to decrease time to degree and
to develop a center of logistics research at Fort Lee in cooperation with the University of Virginia and Longwood University.
I. Out of this appropriation, $200,400 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.)