2014 Special Session I

Budget Amendments - HB5002 (Floor Approved)

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JMU HAC Access and Affordability

Item 166 #2h

Item 166 #2h

First Year - FY2015 Second Year - FY2016
Education: Higher Education
James Madison University FY2015 $4,179,365 FY2016 $5,073,781 GF

Page 155, line 2, strike "$269,179,442" and insert "$273,358,807".
Page 155, line 2, strike "$269,611,855" and insert "$274,685,636".
Page 156, after line 10, insert:
"J. 1. Out of this appropriation, $4,179,365 the first year and $5,073,781 the second year from the general fund is designated for the following:
a. $499,320 the first year from the degree incentive pool for a one percent faculty bonus;
b. $630,416 the second year for a one percent faculty salary increase;
c. $1,232,691 each year for the operation and maintenance of new buildings;
d. $487,535 each year to increase the number of full-time teaching faculty;
e. $297,926 each year to improve retention and graduation rates;
f. $264,000 the second year to expand the 4-VA public-private partnership;
g. $1,200,000 each year to complete the increase in access for in-state undergraduate students begun in the 2011 Session;
h. $461,893 the first year and $961,213 the second year from the degree incentive pool.
2. James Madison 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.
K. Out of this appropriation, James Madison University 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."

(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.)