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2014 Special Session I

Budget Amendments - HB5002 (Committee Proposed)

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UVA HAC Access and Affordability

Item 193 #4h

Item 193 #4h

First Year - FY2015 Second Year - FY2016
Education: Higher Education
University of Virginia FY2015 $2,527,418 FY2016 $3,447,029 GF

Language
Page 167, line 16, strike "$582,500,367" and insert "$585,027,785".
Page 167, line 16, strike "$582,735,492" and insert "$586,182,521".
Page 169, after line 31, insert:
"S. 1. Out of this appropriation, $2,527,418 the first year and $3,447,029 the second year from the general fund is designated for the following:
a. $706,302 the first year from the degree incentive pool for a one percent faculty bonus;
b. $887,821 the second year for a one percent faculty salary increase;
c. $861,733 the first year and $893,523 the second year for the operation and maintenance of new buildings;
d. $860,000 each year to complete the increase in access for in-state undergraduate students begun in the 2011 Session;
e. $99,383 the first year and $805,685 the second year from the degree incentive pool.
2. The University of Virginia 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.
T. Out of this appropriation, the University of Virginia may use up to $46,000 the first year and $175,000 the second year from the general fund to implement a consortium, coordinated by the State Council of Higher Education for Virginia, between James Madison University, Old Dominion University, University of Virginia, Virginia Tech and the Virginia Community College System.  The purpose of this consortium is to develop and administer a pilot program geared towards helping Virginia’s veterans and military members in applying previous military training and education towards completing existing bachelor’s degree and professional certificate programs."


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.)