The 2008 Executive Budget Document
Virginia Polytechnic Institute and State University
Mission Statement
The Virginia Polytechnic Institute and State University is a public land-grant university serving the Commonwealth of Virginia, the nation, and the world community. The discovery and dissemination of new knowledge are central to its mission. Through its focus on teaching and learning, research, and outreach, the university creates, conveys, and applies knowledge to expand personal growth and opportunity, advance social and community development, foster economic competitiveness, and improve the quality of life.
Operating Budget History
General Fund | Nongeneral Fund | Positions | |
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2005 Appropriation | $ 157,616,517 | $ 566,787,972 | 5,933.64 |
2006 Appropriation | $ 168,730,141 | $ 640,555,681 | 5,981.64 |
2007 Appropriation | $ 190,740,184 | $ 683,702,338 | 6,250.28 |
2008 Appropriation | $ 199,031,289 | $ 718,380,265 | 6,278.64 |
General Fund | Nongeneral Fund | Positions | |
---|---|---|---|
2009 Base Budget | $ 199,031,289 | $ 718,380,265 | 6,278.64 |
2009 Addenda | $ 7,780,248 | $ 36,501,155 | (90.66) |
2009 Total | $ 206,811,537 | $ 754,881,420 | 6,187.98 |
2010 Base Budget | $ 199,031,289 | $ 718,380,265 | 6,278.64 |
2010 Addenda | $ 255,248 | $ 68,651,155 | (90.66) |
2010 Total | $ 199,286,537 | $ 787,031,420 | 6,187.98 |
Recommended Operating Budget Addenda
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Distribute Central Appropriations amounts to agency budgetsAdjusts the agency budget to reflect amounts moved from Central Appropriations to cover the cost of items such as the continuation of 2007 and 2008 salary and health insurance premium increases, as well as changes in retirement and disability contribution rates and other centrally funded items. For each year, $8.9 million (GF) and $11.2 million (NGF).
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Eliminate one-time funding for bioengineering, biomaterials and nanotechnology researchEliminates one-time funding included in Chapter 847 (2007) to build research capacity at selected institutions of higher education. For each year, a reduction of $7.5 million (GF).
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Continue funding for the FY 2008 faculty salary increaseContinues funding for the faculty salary increase effective November 25, 2007. This includes support for the three percent increase provided by the Governor and the additional one percent increase approved by the 2006 General Assembly. For each year, $1.5 million (GF).
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Transfer funds from Central Appropriations for faculty salariesTransfers funds from Central Appropriations for the one percent faculty salary increase provided in Chapter 847. For each year, $455,629 (GF).
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Transfer Higher Education Tuition Incentive FundsTransfers funds from Central Appropriations to the agency budget for having met the requirements of the FY 2008 Tuition Incentive Fund. For each year, $1.3 million (GF).
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Correct funding for FY 2008 health insurance rate increaseAdjusts the agency budget to accurately reflect the rate increase allocation between the university and the Cooperative Extension and Agricultural Experiment Station. For each year, a decrease of $173,234 (GF) and $233,083 (NGF).
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Annualize partially funded operation and maintenance funding for new facilitiesProvides additional funds for the operation and maintenance needs associated with building which opened in 2008. For 2009, $351,564 (GF), $359,890 (NGF), and 5.34 positions. For 2010, $351,564 (GF) and $359,890 (NGF).
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Increase nongeneral fund appropriation for education and general programsIncreases the nongeneral fund appropriation to accommodate costs associated with the education and general program. For 2009, $11.0 million (NGF). For 2010, $33.2 million (NGF).
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Increase nongeneral fund appropriation for auxiliary enterprisesIncreases the nongeneral fund appropriation to accommodate additional revenue for auxiliary enterprise programs. For 2009, $9.3 million (NGF). For 2010, $19.2 million (NGF).
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Continue 2008 budget reductionsContinues the budget reductions included in the Governor's 2008 reduction plan into the 2008-10 biennium. For 2009, a decrease of $10.2 million (GF) and 96 positions. For 2010, a decrease of $10.2 million (GF).
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Transfer Unique Military Activity fundsTransfers funds from the Virginia Military Institute in support of the Unique Military Program at Virginia Tech. This is an administrative transfer to accurately distribute funds to the responsible agency. For each year, $1.6 million (GF).
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Increase undergraduate student financial assistanceIncreased funding for need-based financial aid for in-state undergraduate students. For each year, $408,268 (GF).
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Invest in researchProvides funds to support leading research programs in Virginia's public institutions of higher education while encouraging the development of self-sustaining enterprises that will continue beyond the 2008-2010 biennium. For 2009, $7.5 million (GF).
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Provide funding to support core instructional requirementsProvides additional state funding to support the institution’s core operating requirements needed to deliver quality instructional and student service activities. For each year, $3.6 million (GF) and $4.9 million (NGF).
Capital Totals for the Biennium
General Fund 2008-10 Biennium |
Nongeneral Fund 2008-10 Biennium |
Debt 2008-10 Biennium |
---|---|---|
$ 0 | $ 10,600,000 | $ 86,905,000 |
Recommended Capital Budget Addenda
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Construct new residence hallProvides supplemental funding to support the most recent bid prices of the residence hall project funded in a prior biennia. The new residence hall is expected to include 256 beds along with office spaces for residential services, judicial affairs, and the dean of students. This project will be funded through the issuance of 9(c) revenue bonds. For the biennium, $8.0 million (NGF).
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Renovate Henderson HallProvides funds for the cost of equipment and furnishings for Henderson Hall. Previously, only the construction portion of this project was funded. The project will be funded from the issuance of bonds through the Virginia College Building Authority. For the biennium, $3.5 million (NGF).
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Construct basketball practice facilityProvides funds to construct a 59,500 gross square foot stand alone facility to support student athlete development and to serve as a critical recruiting tool for Virginia Tech’s Atlantic Coast Conference (ACC) men’s and women’s basketball. This project will be funded through a combination of private gifts and the issuance of 9(d) bonds. For the biennium, $20.0 million (NGF).
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Repair McComas Hall exterior wall structureProvides funds to correct structural and moisture penetration problems of the exterior wall of McComas Hall, a 118,225 gross square foot building. The project includes removal and replacement of the entire exterior building envelope. McComas Hall was constructed in 1998 as a combined use recreational sports, counseling and student health services building. This project will be funded by the issuance of 9(d) revenue bonds. For the biennium, $6.0 million (NGF).
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Renovate Ambler JohnstonProvides funds to modernize the entire building and address deferred maintenance needs. Renovation efforts will result in additional hall lounges, community meeting rooms, and study rooms; refurbishing and expanding bathroom facilities, updating residential rooms, and building systems. This project will be funded from the issuance of 9(c) revenue bonds. For the biennium, $55.0 million (NGF).
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Renovate Owens and West End Market food courtsProvides funds to renovate two outdated dining facilities each serving over 3,700 daily meals. Renovations will be made to dining areas, food service areas, various venue stations and kitchens. In addition, to accommodate the need for additional seats, an extension of the dining area is proposed for an additional 100 diners. This project will be funded from the issuance of 9(c) revenue bonds. For the biennium, $5.0 million (NGF).