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2014 Special Session I

Budget Amendments - HB5002 (Committee Proposed)

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GMU HAC Access and Affordability

Item 162 #4h

Item 162 #4h

First Year - FY2015 Second Year - FY2016
Education: Higher Education
George Mason University FY2015 $6,463,752 FY2016 $8,660,013 GF

Language
Page 152, line 40, strike "$460,764,071" and insert "$467,227,823".
Page 152, line 40, strike "$460,788,835" and insert "$469,448,848".
Page 153, after line 47, insert:
"J. 1. Out of this appropriation, $6,463,752 the first year and $8,660,013 the second year from the general fund is designated for the following:
a. $826,006 the first year from the degree incentive pool for a one percent faculty bonus;
b. $1,053,870 the second year for a one percent faculty salary increase;
c. $1,009,683 the first year and $2,152,074 the second year for the operation and maintenance of new buildings;
d. $4,173,400 each year to increase the number of full-time teaching faculty;
e. $454,663 the first year and $1,280,669 the second year from the degree incentive pool.
2. George Mason 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 faculty and classified compensation actions."


Explanation
(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.)