December 17, 2012
This morning, Governor Bob McDonnell released his amendments to the 2012-2014 biennial budget. As you may recall, through overwhelming support from the Governor, House and Senate, the biennial budget when approved last April brought almost $18 million in additional funding, spread over the two-year budget, to the University, including:
- $7.1 million for base operating support;
- $3.2 million for specific university initiatives, such as increasing STEM degrees, modeling
and simulation capacity, and on-line degree programs;
- $3.4 million for enrollment growth and student retention;
- $1.5 million to support the Frank Reidy Center for Bioelectrics, and
- $1.7 million for student financial aid
I am pleased to report the Governor has once again recognized Old Dominion University's significant contributions to the Commonwealth, and as such, out of the $20 million in additional funds that the Governor allocated to higher education to meet the goals of the TJ 21 legislation passed in 2011, he has provided an additional $5.3 million (or 25%) in base funding to the University for FY14. Further, ODU was the only institution to receive any funding towards base adequacy. Given the scarcity of resources, uncertainties surrounding the fiscal cliff in Washington, and reductions made to other state agencies in this budget, these additional funds are substantial.
In addition, the Governor's budget amendments retain the funds for the 2% salary increase for state employees approved by the General Assembly last year. The salary increase will be effective July 1, 2013.
I wish to thank Governor McDonnell as well as the General Assembly, especially the Hampton Roads delegation, for their continuing support and commitment to both the University and to higher education. I also wish to thank the members of our Board of Visitors and Elizabeth Kersey for their assistance in securing this additional funding for our university.
John R. Broderick