The 2011 Executive Budget Document
Virginia College Savings Plan
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http://www.virginia529.com/
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Mission Statement
It is the mission of the Virginia College Savings Plan (VCSP) to enhance the accessibility and affordability of higher education for all citizens of the Commonwealth by providing a menu of investment options under Section 529 of the Internal Revenue Code to allow college savings in a tax-advantaged investment environment.
Operating Budget Summary
General Fund | Nongeneral Fund | Personnel Cost | |
---|---|---|---|
2007 Appropriation | $ 0 | $ 90,081,427 | $ 3,938,370 |
2008 Appropriation | $ 0 | $ 106,160,664 | $ 4,621,519 |
2009 Appropriation | $ 0 | $ 137,484,273 | $ 5,291,011 |
2010 Appropriation | $ 0 | $ 163,452,894 | $ 5,966,011 |
2011 Base Budget | $ 0 | $ 247,598,975 | $ 7,039,801 |
2011 Addenda | $ 0 | $ 1,659,183 | $ 1,036,177 |
2011 Total | $ 0 | $ 249,258,158 | $ 8,075,978 |
2012 Base Budget | $ 0 | $ 271,254,452 | $ 7,039,801 |
2012 Addenda | $ 0 | $ 1,002,357 | $ 841,001 |
2012 Total | $ 0 | $ 272,256,809 | $ 7,880,802 |
General Fund | Nongeneral Fund | Total Positions | |
---|---|---|---|
2007 Appropriation | 0.00 | 60.00 | 60.00 |
2008 Appropriation | 0.00 | 60.00 | 60.00 |
2009 Appropriation | 0.00 | 60.00 | 60.00 |
2010 Appropriation | 0.00 | 60.00 | 60.00 |
2011 Base Budget | 0.00 | 72.00 | 72.00 |
2011 Addenda | 0.00 | 8.00 | 8.00 |
2011 Total | 0.00 | 80.00 | 80.00 |
2012 Base Budget | 0.00 | 72.00 | 72.00 |
2012 Addenda | 0.00 | 8.00 | 8.00 |
2012 Total | 0.00 | 80.00 | 80.00 |
Recommended Operating Budget Addenda
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Adjust the nongeneral fund appropriation for changes in operating expensesAdjusts the agency's nongeneral fund appropriations to account for various savings strategies and growth in operating expenses, specifically related to data and security.
FY 2011 FY 2012 Nongeneral Fund $ 609,346 $ 147,696
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Increase the nongeneral fund appropriation to provide for increased operating costs associated with the College Savings SystemsProvides nongeneral fund appropriation for increased information technology operating costs related to the College Savings Systems.
FY 2011 FY 2012 Nongeneral Fund $ 13,660 $ 13,660
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Increase the position level by eight and provide permanent nongeneral fund appropriation for the additional positions as well as temporary nongeneral fund appropriation for the mandated three percent bonus in FY 2011Provides nongeneral fund appropriation for the three percent bonus to be paid in December 2010, and increases the agency's maximum employment level, and provides nongeneral fund appropriation for an eight position increase, as approved by the agency's board.
FY 2011 FY 2012 Nongeneral Fund $ 1,036,177 $ 841,001 Authorized Positions $ 8 $ 8