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2024 Special Session I

Budget Bill - HB6001 (Chapter 2)

Old Dominion University

Item 170

Item 170

First Year - FY2025Second Year - FY2026
Higher Education Auxiliary Enterprises (80900)
     a sum sufficient, estimated at
$121,861,551$121,861,551
Food Services (80910)FY2025 $5,271,296FY2026 $5,271,296
Bookstores And Other Stores (80920)FY2025 $655,764FY2026 $655,764
Residential Services (80930)FY2025 $38,607,137FY2026 $38,607,137
Parking And Transportation Systems And Services (80940)FY2025 $6,732,078FY2026 $6,732,078
Telecommunications Systems And Services (80950)FY2025 $906,134FY2026 $906,134
Student Health Services (80960)FY2025 $3,754,531FY2026 $3,754,531
Student Unions And Recreational Facilities (80970)FY2025 $8,398,826FY2026 $8,398,826
Recreational And Intramural Programs (80980)FY2025 $4,215,657FY2026 $4,215,657
Other Enterprise Functions (80990)FY2025 $19,151,860FY2026 $19,151,860
Intercollegiate Athletics (80995)FY2025 $34,168,268FY2026 $34,168,268
Fund Sources:  
Higher Education OperatingFY2025 $95,386,189FY2026 $95,386,189
Debt ServiceFY2025 $26,475,362FY2026 $26,475,362

Authority: Title 23.1, Chapter 20, 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.