2012 Session

Budget Bill - HB1300 (Introduced)

Old Dominion University

Item 176

Item 176 (Not set out)

First Year - FY2011Second Year - FY2012
Higher Education Auxiliary Enterprises (80900)
     a sum sufficient, estimated at
Food Services (80910)FY2011 $1,948,812FY2012 $1,948,812
Bookstores and other Stores (80920)FY2011 $915,764FY2012 $915,764
Residential Services (80930)FY2011 $31,414,812FY2012 $31,414,812
Parking and Transportation Systems and Services (80940)FY2011 $7,445,894FY2012 $7,445,894
Student Health Services (80960)FY2011 $2,118,990FY2012 $2,118,990
Student Unions and Recreational Facilities (80970)FY2011 $6,629,058FY2012 $6,629,058
Recreational and Intramural Programs (80980)FY2011 $1,703,576FY2012 $1,703,576
Other Enterprise Functions (80990)FY2011 $15,567,486FY2012 $15,567,486
Intercollegiate Athletics (80995)FY2011 $22,515,832FY2012 $22,515,832
Fund Sources:  
Higher Education OperatingFY2011 $67,642,743FY2012 $67,642,743
Debt ServiceFY2011 $22,617,481FY2012 $22,617,481

Authority: Title 23, Chapter 5.2, Code of Virginia.

Old Dominion University is authorized to establish a self-supporting "instructional enterprise" fund to account for the revenues and expenditures of TELETECHNET classes offered at locations outside the Commonwealth of Virginia. Consistent with the self-supporting concept of an "enterprise fund," student tuition and fee revenues for TELETECHNET students at locations outside Virginia shall exceed all direct and indirect costs of providing instruction to those students. Tuition and fee rates to meet this requirement shall be established by the University's Board of Visitors. Revenue and expenditures of the fund shall be accounted for in such a manner as to be auditable by the State Council of Higher Education for Virginia. Revenues in excess of expenditures shall be retained in the fund to support the entire TELETECHNET program. Full-time equivalent students generated through these programs shall be accounted for separately. Additionally, revenues which remain unexpended on the last day of the previous biennium and the last day of the first year of the current biennium shall be reappropriated and allotted for expenditure in the respective succeeding fiscal year.