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2012 Special Session I

Budget Amendments - HB1301 (Conference Report)

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VCU Conference Package

Item 206 #1c

Item 206 #1c

First Year - FY2013 Second Year - FY2014
Education: Higher Education
Virginia Commonwealth University FY2013 ($1,065,668) FY2014 ($1,065,668) GF

Language
Page 155, line 25, strike "$463,294,357" and insert "$462,228,689".
Page 155, line 25, strike "$463,309,750" and insert "$462,244,082".
Page 157, strike lines 19 through 30 and insert:
"N.1. Out of this appropriation, $3,565,354 each year from the general fund is designated for base operating support.
2.  Out of this appropriation, $2,916,627 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.1. Out of this appropriation, $684,120 each year from the general fund 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, and the advancement of newly established degree programs in the Center for Clinical and Translational Research.
2. Virginia Commonwealth University shall reallocate $2,150,379 the first year and $2,867,172 the second year from current educational and general program funds either to support the initiatives identified in paragraph O.1. and / or to address programs and strategies that serve to advance the objectives of the Higher Education Opportunity Act of 2011."


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 amendment also reflects a reallocation requirement of 1.5 percent in the first year and 2.0 percent in the second year.)