2007 Session

Budget Bill - HB1650 (Chapter 847)

Virginia Commonwealth University

Item 205

Item 205

First Year - FY2007Second Year - FY2008
Financial Assistance for Educational and General Services (11000)$232,784,852$242,002,652
Eminent Scholars (11001)FY2007 $2,178,000FY2008 $2,395,800
Sponsored Programs (11004)FY2007 $230,606,852FY2008 $239,606,852
Fund Sources:  
GeneralFY2007 $3,100,000FY2008 $3,100,000
Higher Education OperatingFY2007 $228,419,852FY2008 $237,637,652
Debt ServiceFY2007 $1,265,000FY2008 $1,265,000

Authority: Title 23, Chapter 6.1, Code of Virginia.

A. Out of this appropriation, $3,100,000 from the general fund and $6,600,000 from nongeneral funds each year is designated to build research capacity in the areas of biomedical engineering and regenerative medicine.

B. Virginia Commonwealth University shall report on the use of these funds and progress made under this initiative to the Chairmen of the House Appropriations and Senate Finance Committees by October 1, 2007.  The report shall include, but not be limited to: 1) how the funds were used, 2) the amount of federal and private funds that were leveraged, 3) collaborative efforts in support of private industry, 4) the number of junior and senior faculty recruited in each field, 5) the amount of federal or other grant funds received as the result of those recruitments, 6) additional grants or contracts being pursued, 7) the level of instructional activity conducted by these faculty, 8) the impact of research activities on undergraduate instruction, 9) the use of graduate student aid funds, and 10) recommendations for future investment.

C.  The Higher Education Operating fund source listed in this Item is considered to be a sum sufficient appropriation, which is an estimate of funding required by the University to cover sponsored program operations.