The 2012 Executive Budget Document
Innovation and Entrepreneurship Investment Authority
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http://www.cit.org/
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Mission Statement
The Innovation and Entrepreneurship Investment Authority (IEIA) accelerates the next generation of technology and technology companies to make Virginia an attractive business location.
Operating Budget Summary
| General Fund | Nongeneral Fund | Personnel Cost | |
|---|---|---|---|
| 2009 Appropriation | $ 5,295,878 | $ 0 | $ (312,000) |
| 2010 Appropriation | $ 4,111,460 | $ 0 | $ (312,000) |
| 2011 Appropriation | $ 4,473,512 | $ 0 | $ 0 |
| 2012 Appropriation | $ 4,973,750 | $ 0 | $ 0 |
| 2013 Base Budget | $ 4,973,750 | $ 0 | $ 0 |
| 2013 Addenda | $ 953,127 | $ 0 | $ 0 |
| 2013 Total | $ 5,926,877 | $ 0 | $ 0 |
| 2014 Base Budget | $ 4,973,750 | $ 0 | $ 0 |
| 2014 Addenda | $ 1,233,127 | $ 0 | $ 0 |
| 2014 Total | $ 6,206,877 | $ 0 | $ 0 |
| General Fund | Nongeneral Fund | Total Positions | |
|---|---|---|---|
| 2009 Appropriation | 0.00 | 0.00 | 0.00 |
| 2010 Appropriation | 0.00 | 0.00 | 0.00 |
| 2011 Appropriation | 0.00 | 0.00 | 0.00 |
| 2012 Appropriation | 0.00 | 0.00 | 0.00 |
| 2013 Base Budget | 0.00 | 0.00 | 0.00 |
| 2013 Addenda | 0.00 | 0.00 | 0.00 |
| 2013 Total | 0.00 | 0.00 | 0.00 |
| 2014 Base Budget | 0.00 | 0.00 | 0.00 |
| 2014 Addenda | 0.00 | 0.00 | 0.00 |
| 2014 Total | 0.00 | 0.00 | 0.00 |
Recommended Operating Budget Addenda
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Adjust funding to reflect changes in information technology and telecommunication chargesAdjusts the agency's budget for the general fund share of information technology and telecommunication charges based on changes in utilization, services, and rate changes approved by the Joint Legislative Audit and Review Commission on July 1, 2010, and September 1, 2011.
FY 2013 FY 2014 General Fund $ 101,552 $ 101,552
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Fund cyber security activitiess government assets, pro-business environment, and current and future workforce, place Virginia at the forefront of the cyber security industry.
FY 2013 FY 2014 General Fund $ 520,000 $ 480,000
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Fund Modeling and Simulation activitiess statewide modeling and simulation activities. Virginia ranks amongst the top three states for modeling and simulation and this program will build upon existing initiatives by fostering innovative partnerships, leveraging university and industry resources, aligning assets with emerging market opportunities and expanding outreach activities.
FY 2013 FY 2014 General Fund $ 480,000 $ 800,000
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Reduce funding for web-based improvementsReduces funding for a web-based submission portal supporting the Commonwealth Technology Research Fund (CRCF) that this agency manages for the Commonwealth. The affected online enhancements would have been implemented to expedite CRCF application submission, management, processing, and related correspondence.
FY 2013 FY 2014 General Fund $ (148,425) $ (148,425)