April 19, 2012

Dear Colleague,

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.

Sincerely,

John R. Broderick
President