March 9, 2020
Dear Colleague:
The House and Senate Conference Committee released their budget amendments for the 2020-2022 biennium and the news is positive for Old Dominion University. This has been a successful session, not only for the University but for our employees.
The following allocations are in addition to the funds provided in the Governor Budget in December 2019:
- Funding was appropriated for three percent bonuses for all full-time faculty, administrative and classified staff as well as to all part-time adjunct and hourly employees.
- These bonuses are based on performance and apply to those employed on April 1, 2020 and remain employed through November 24, 2020.
- The bonuses will be paid to eligible employees on December 1, 2020.
- Effective with the July 1, 2021 paycheck, full-time faculty, administrative and classified staff as well as adjunct and wage employees will receive a performance-based three percent salary increase contingent upon general fund revenue collection at the preliminary close of the June 30, 2020 fiscal year.
In addition to the $22 million in base operating funds provided in the Governor's budget ($10M in FY2021 and $12M in FY2022), Old Dominion will receive $3.2M in tuition moderation funds provided there is no tuition increase for in-state undergraduate students.
The amended budget also provides an additional $2.7M in need-based financial aid for in-state undergraduates for a total of $5.3M in FY2021 and $165,800 in FY2021 and $248,600 in FY2022 for graduate students.
While these additional funds will enable Old Dominion University to make strategic investments as outlined in our Six-Year Academic and Financial Plan, the majority are earmarked for salary and benefit increases, student financial assistance, operation and maintenance for the Chemistry Building coming online in the fall, and to address continuing enrollment trends.
We sincerely appreciate the support we have received from the Governor and General Assembly in this biennial session. Also, thanks to Annie Morris for her efforts and hard work.
Sincerely,
John R. Broderick
President