2014 Special Session I

Budget Amendments - HB5002 (Floor 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 $2,160,526 FY2016 $2,395,698 GF

Page 158, line 27, strike "$79,301,809" and insert "$81,462,335".
Page 158, line 27, strike "$79,347,342" and insert "$81,743,040".
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, $2,160,526 the first year and $2,395,698 the second year from the general fund is designated for the following:
a. $109,592 the first year from the degree incentive pool for a one percent faculty bonus;
b. $144,031 the second year for a one percent faculty salary increase;
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. $154,284 the first year and $263,877 the second 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 faculty and classified compensation actions."

(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.)