April 19, 2012
Yesterday afternoon, the Virginia House and Senate passed the 2012-2014 biennial budget. While the document still awaits the Governor's approval, I'm pleased to report to you that the final details of it bring 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 Center for Bioelectrics
- $1.7 million for student financial aid
The budget also contains funding for up to a 3% bonus for state employees in December 2012, contingent on the Commonwealth meeting certain revenue projections, and a 2% salary increase in July 2013.
Additionally, the budget provides funds to replace the mechanical systems in the Oceanography and Physics Building, a critically needed project, and gives us the authority to move ahead with plans for the New Education Building and the Joint Policing Facility.
I wish to thank 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 significant additional funding for our university.
John R. Broderick