Item 257 (Not set out) | First Year - FY2021 | Second Year - FY2022 |
|---|
|
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| Economic Development Services (53400) | $6,510,193 | $6,510,193 |
| Regional Research, Technology, Education, and Commercialization Services (53421) | FY2021 $6,510,193 | FY2022 $6,510,193 |
| Fund Sources: | | |
| General | FY2021 $6,510,193 | FY2022 $6,510,193 |
Authority: Title 23.1, Chapter 31, Article 3, Code of Virginia.
A. It is the intent of the General Assembly that the Institute for Advanced Learning and Research, the New College Institute, and the Southern Virginia Higher Education Center coordinate their activities, both instructional and research, to the maximum extent possible to best meet the needs of the citizens of the region, to ensure effective utilization of resources, and to avoid unnecessary duplication. The three entities shall report annually by October 1 to the Secretary of Education and the State Council of Higher Education on their joint efforts in this regard.
B. The requirements of § 4-5.05 shall not apply to this appropriation.
C. This Item includes no funds for the agency's use of leased property for engagement activities.
D. This Item includes $31,927 the first year and $31,927 the second year from the general fund for debt service on a five-year term loan through the Master Equipment Leasing Program (MELP) to purchase communications infrastructure and 16 telephone handsets. It is intended that the ongoing amount will be removed from the agency's base budget in 2022.