2014 Session

Budget Amendments - HB30 (Committee Approved)

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NSU HAC Access and Affordability

Item 174 #4h

Item 174 #4h

First Year - FY2015 Second Year - FY2016
Education: Higher Education
Norfolk State University FY2015 $2,224,455 FY2016 $2,389,660 GF

Page 158, line 27, strike "$79,301,809" and insert "$81,526,264".
Page 158, line 27, strike "$79,347,342" and insert "$81,737,002".
Page 159, line 12, after "year." insert
"Norfolk State University may expend any prior year end balances to support its educational and general activities."
Page 159, after line 42, insert:
"J. 1. Out of this appropriation, $2,224,455 the first year and $2,389,660 the second year from the general fund is designated for the following:
a. $219,184 the second year from the degree incentive pool for a two percent faculty bonus;
b. $182,686 the second year from the degree incentive pool for a two percent classified bonus;
c. $91,140 the second year for the operation and maintenance of new buildings;
d. $931,650 each year to increase the number of full-time teaching faculty;
e. $615,000 each year to improve retention and graduation rates;
f. $350,000 each year for in-state undergraduate tuition moderation equivalent to about two percentage points;
g. $327,805 the first year from the degree incentive pool.
2. Norfolk State University shall reallocate up to two percent of its fiscal year 2014 general fund appropriation for educational and general programs to cover the nongeneral fund share of the two percent bonus for faculty and classified."

(This amendment provides general fund money to support faculty and staff compensation, in-state undergraduate enrollment, the operations and maintenance of new buildings, additional full-time faculty, retention improvement, institution-specific initiatives and in-state undergraduate tuition moderation.)