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1997 Session

Budget Bill - SB700 (Introduced)

Virginia College Building Authority

Item 264

Item 264

A. The purpose of this program item is to defray costs of establishing, administering, and implementing an ongoing program for the acquisition and replacement of instructional and research equipment to be leased or sold to state-supported institutions of higher education in accordance with the provisions of Chapter 597, Acts of Assembly of 1986, and Item 343.1, Chapter 723, Acts of Assembly of 1987.


B.1. Pursuant to the provisions of Chapter 597, Acts of Assembly of 1986 the State Council of Higher Education shall develop procedures through which institutions of higher education apply for allocations of equipment made available under the program, and shall develop guidelines and recommendations for the apportionment of such equipment to each state-supported institution of higher education.


2. Approval by the Governor or his designee of allocations of equipment made through this program shall be made to only those institutions that (1) are in full compliance with the directives of the State Comptroller regarding equipment inventories, (2) have fully implemented the Fixed Assets Accounting and Control System, and (3) have entered into leases approved by the Governor or his designee as required by Chapter 597, Acts of Assembly of 1986. The State Comptroller shall certify such compliance and implementation to the Governor or his designee.


3. Pursuant to the provisions of Chapter 597, Acts of Assembly of 1986, the Authority shall acquire equipment for educational institutions according to terms and conditions as approved through the Commonwealth's budget and appropriation process. Each institution shall make available such additional detail on specific equipment to be purchased as may be requested by the Governor or the General Assembly. If emergency acquisitions are necessary when the General Assembly is not in session, the Governor may approve such acquisitions. The Governor shall report his approval of such acquisitions to the Chairmen of the House Appropriations and Senate Finance Committees.


4. Since 1987, funding has been provided through the Higher Education Equipment Trust Fund to Virginia's colleges and universities to address deficiencies in eleven academic disciplines, including obsolete equipment. These disciplines, for which deficiency studies have been completed, use approximately 80 percent of the equipment.


5. Amounts for lease payments shall be provided pursuant to Item 529 of this act.


C.1. Allocations of $39,650,004 will be made the first year and $39,649,994 the second year of the 1996-98 biennium to support the Governor's Education Technology initiative. Item 529 of this act includes $9,200,000 to support lease payments in the second year of the biennium.


2. Transfer of the appropriation in Item 529 of this act to the Virginia College Building Authority shall be subject to the approval of the Secretary of Finance. An allocation of $50,000,000 made in 1994-96 biennium brings the total amount of equipment acquired through the program to at least $215,690,000. The lease payments in the first year will be $17,649,104 and $25,031,546 the second year. Allocations and lease payments are as follows:


FY97 FY98
Prior FY97 Total Lease FY98 Total Lease
Insts. Allocations Allocations Payment Allocations Payment
GMU $7,904,621 $5,185,190 $718,795 $5,185,189 $1,748,550
ODU 16,091,566 2,548,260 1,385,098 2,548,259 1,690,364
UVA 37,770,243 5,987,179 3,370,084 5,987,178 5,039,583
VCU 24,842,374 4,171,786 1,724,350 4,171,785 2,224,514
VPI 50,716,375 7,558,200 4,308,400 7,558,199 6,148,189
W&M 7,399,745 1,317,012 718,348 1,317,012 950,188
CNU 1,879,379 527,946 140,170 527,945 201,358
CVC 1,208,046 199,928 75,332 199,927 75,358
JMU 6,339,715 1,157,881 574,950 1,157,881 784,035
LC 2,667,228 262,255 184,932 262,255 130,463
MWC 2,617,055 666,309 199,645 666,308 238,419
NSU 4,606,649 1,146,657 271,217 1,146,657 381,385
RU 6,204,506 965,181 453,221 965,181 473,662
VMI 3,558,719 338,927 237,950 338,927 259,203
VSU 3,127,372 1,026,350 253,283 1,026,350 462,729
RBC 257,076 176,024 19,844 176,023 55,223
VCCS 38,499,331 6,414,919 3,013,485 6,414,918 4,168,323
TOTAL $215,690,000 $39,650,004 $17,649,104 $39,649,994 $25,031,546

Authority: Chapter 597, Acts of Assembly of 1986.