2004 Special Session I

Budget Bill - HB5001 (Chapter 4)

State Council of Higher Education for Virginia

Item 164

Item 164

First Year - FY2005Second Year - FY2006
Financial Assistance for Educational and General Services (11000)$6,662,028$6,524,208
Eminent Scholars (11001)FY2005 $6,277,568FY2006 $6,277,568
Regional Grants and Contracts (11003)FY2005 $334,460FY2006 $196,640
Outstanding Faculty Recognition (11009)FY2005 $50,000FY2006 $50,000
Fund Sources:  
GeneralFY2005 $6,612,028FY2006 $6,474,208
SpecialFY2005 $50,000FY2006 $50,000

Authority: Regional Grants and Contracts: Discretionary Inclusion; Eminent Scholars: Discretionary Inclusion; Outstanding Faculty Recognition Program: Discretionary Inclusion; Graduate and Undergraduate Assistance; § 23-38.19:1.

A. No amount, or part of an amount, listed for any subprogram in this appropriation shall be expended for any other subprogram in this appropriation.

Appropriations in this Item are subject to the conditions specified in paragraphs B, C, and D hereof.

B. Eminent Scholars

1. Out of this appropriation, $6,277,568 the first year and $6,277,568 the second year from the general fund is designated for attracting and retaining eminent scholars in institutions of higher education.

2. These sums shall be apportioned, in accordance with plans approved by the Secretary of Education, to institutions of higher education, to match the interest earned by endowments created for this purpose after June 30, 1966. This plan shall include provision for the inclusion of an allocation to match investment earnings on endowments established in accordance with Item 230 D. of this act.

3. However, this stipulation shall not prohibit the appropriation and expenditure of interest earned on these endowments that exceed the match for the state appropriation.

C. Regional Grants and Contracts

1. Out of this appropriation the following sums for regional education and scholarships are made available, to be expended in accordance with agreements between the Commonwealth of Virginia and the Southern Regional Education Board and for additional places in other out-of-state institutions:

a. For optometry scholarships, $115,160 the first year and $26,640 the second year from the general fund.

b. For the Commonwealth of Virginia's participation in the Southern Regional Educational Board initiative to increase the number of minority doctoral graduates, $170,000 the first year and $170,000 the second year from the general fund.

2. Out of the amounts for Regional Grants and Contracts, $49,300 the first year from the general fund is designated for tuition grants to support fourth-year students from Accomack and Northampton Counties for attendance at Salisbury State College and the University of Maryland-Eastern Shore, in the State of Maryland.

D. Outstanding Faculty Recognition Program

1. The State Council of Higher Education for Virginia shall annually provide a grant to faculty members selected to be honored under this program from such private funds as may be designated for this purpose.

2. The faculty members shall be selected from public and private institutions of higher education in Virginia, but recipients of Outstanding Faculty Recognition Awards shall not be eligible for the Awards in subsequent years.