2017 Session

Budget Bill - SB900 (Introduced)

Old Dominion University

Item 184

Item 184

First Year - FY2017Second Year - FY2018
Higher Education Auxiliary Enterprises (80900)
     a sum sufficient, estimated at
Food Services (80910)FY2017 $4,780,460FY2018 $4,780,460
Bookstores And Other Stores (80920)FY2017 $915,764FY2018 $915,764
Residential Services (80930)FY2017 $32,279,062FY2018 $32,279,062
Parking And Transportation Systems And Services (80940)FY2017 $7,509,248FY2018 $7,509,248
Telecommunications Systems And Services (80950)FY2017 $6,134FY2018 $6,134
Student Health Services (80960)FY2017 $2,687,180FY2018 $2,687,180
Student Unions And Recreational Facilities (80970)FY2017 $7,822,908FY2018 $7,822,908
Recreational And Intramural Programs (80980)FY2017 $2,415,657FY2018 $2,415,657
Other Enterprise Functions (80990)FY2017 $16,848,115FY2018 $16,848,115
Intercollegiate Athletics (80995)FY2017 $33,516,516FY2018 $33,516,516
Fund Sources:  
Higher Education OperatingFY2017 $86,163,563FY2018 $86,163,563
Debt ServiceFY2017 $22,617,481FY2018 $22,617,481

Authority: Title 2323.1, Chapter 5.220, 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.