481#1s (VCSP) VCSP - Authorize NGF Positions and Funds for Compensation Plan. SB5003 - Committee Approved

State Budget

2014 Special Session I

Budget Amendments - SB5003 (Committee Approved)

Bill Order » Item 481 #1s

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VCSP - Authorize NGF Positions and Funds for Compensation Plan

Item 481 #1s

Item 481 #1s	First Year - FY2015	Second Year - FY2016
Independent Agencies
Virginia College Savings Plan	FY2015 $1,604,071	FY2016 $1,559,071	NGF
	FY2015 10.00	FY2016 10.00	FTE

Language
Page 416, line 7, strike "$9,714,752" and insert "$11,318,823".
Page 416, line 7, strike "$9,714,940" and insert "$11,274,011".

Explanation
(This amendment provides around $1.6 million NGF and 10.0 NGF positions in each year of the biennium to authorize additional NGF positions due to growth and fund the existing comprehensive compensation plan at the Virginia College Savings Plan (VCSP). Seven positions were authorized in the introduced budget.)

Item 481

Item 481	First Year - FY2015	Second Year - FY2016
Administrative and Support Services (79900)	$9,714,752	$9,714,940
General Management and Direction (79901)	FY2015 $9,714,752	FY2016 $9,714,940
Fund Sources:
Enterprise	FY2015 $9,714,752	FY2016 $9,714,940

Authority: Title 23, Chapter 4.9, Code of Virginia.

Out of the amounts appropriated to this Item, $650,000 the first year and $650,000 the second year from nongeneral funds are designated for a comprehensive compensation plan to link pay to performance.