The 2008 Executive Budget Document
Old Dominion University
Mission Statement
Old Dominion University promotes the advancement of knowledge and the pursuit of truth locally, nationally, and internationally. It develops in students a respect for the dignity and worth of the individual, a capacity for critical reasoning and a genuine desire for learning. The University fosters the extension of the boundaries of knowledge through research and scholarship and is committed to the preservation and dissemination of a rich cultural heritage.
Operating Budget History
| General Fund | Nongeneral Fund | Positions | |
|---|---|---|---|
| 2005 Appropriation | $ 87,334,547 | $ 120,922,338 | 2,262.74 |
| 2006 Appropriation | $ 95,832,281 | $ 125,093,860 | 2,261.74 |
| 2007 Appropriation | $ 121,888,438 | $ 150,355,467 | 2,315.74 |
| 2008 Appropriation | $ 126,739,038 | $ 160,794,461 | 2,324.74 |
| General Fund | Nongeneral Fund | Positions | |
|---|---|---|---|
| 2009 Base Budget | $ 126,739,038 | $ 160,794,461 | 2,324.74 |
| 2009 Addenda | $ 2,369,976 | $ 19,854,160 | (42.00) |
| 2009 Total | $ 129,109,014 | $ 180,648,621 | 2,282.74 |
| 2010 Base Budget | $ 126,739,038 | $ 160,794,461 | 2,324.74 |
| 2010 Addenda | $ (1,630,024) | $ 25,104,160 | (42.00) |
| 2010 Total | $ 125,109,014 | $ 185,898,621 | 2,282.74 |
Recommended Operating Budget Addenda
-
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, $3.9 million (GF) and $2.9 million (NGF).
-
Eliminate general fund appropriation for modeling and simulation 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 $4.0 million (GF).
-
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, $837,792 (GF).
-
Continue funding for the FY 2008 nursing faculty salary increaseContinues funding for the nursing salary increase effective November 25, 2007. For each year, $112,303 (GF).
-
Increase nongeneral fund appropriation for auxiliary enterprise program revenueProvides additional appropriation to support several auxiliary programs including debt service and increased costs associated with facilities, utilities, other service charges, and football startup costs. For each year, $5.0 million (NGF).
-
Increase nongeneral fund appropriation in educational and general services for an energy performance contractProvides additional appropriation to allow for the annual installments of an energy performance contract on several of the agency's academic buildings. For each year, $215,653 (NGF).
-
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, $247,529 (GF).
-
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, $259,591 (GF).
-
Increase nongeneral fund appropriation to reflect additional auxiliary enterprise program revenueIncreases the auxiliary enterprise appropriation to address debt service payments and record revenues associated with the university's football program. For 2009, $10.5 million (NGF). For 2010, $15.8 million (NGF).
-
Annualize partially funded operation and maintenance funding for new facilitiesAdjusts agency budget to annualize operation and maintenance funding for the Batten Arts and Letters building. For each year, $54,889 (GF) and $42,778 (NGF).
-
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 $5.6 million (GF) and 42 positions. For 2010, a decrease of $5.6 million (GF).
-
Increase undergraduate student financial assistanceIncreases funding for need-based financial aid for in-state undergraduate students. For each year, $1.1 million (GF).
-
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, $4.0 million (GF).
-
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, $1.6 million (GF) and $1.2 million (NGF).
-
Amend language related to the TELETECHNET programThis language-only addendum removes the specific site designation to the community colleges, thus allowing for the operation of distance learning sites across the Commonwealth.
Capital Totals for the Biennium
| General Fund 2008-10 Biennium |
Nongeneral Fund 2008-10 Biennium |
Debt 2008-10 Biennium |
|---|---|---|
| $ 0 | $ 4,970,000 | $ 41,986,000 |
Recommended Capital Budget Addenda
-
Construct Powhatan Sports ComplexProvides supplemental funding for additional seating and other outdoor amenities in the Foreman Field football stadium complex. The project will be funded from the issuance of 9(d) revenue bonds. For the biennium, $7.2 million (NGF).
-
Construct residence hall, phase IIProvides supplemental funding to support a revised design plan for residence halls, to include 384 additional beds, improved HVAC and additional green space. The project will be funded from the issuance of 9(c) revenue bonds. For the biennium, $34.8 million (NGF).
-
Acquire additional propertyAuthorizes acquisition of approximately three acres of real estate located on the periphery of the main campus. The acquisition of this property is to ensure that adequate property is available to accommodate planned facility, infrastructure, and traffic-related improvements. The property will be funded from auxiliary revenues. For the biennium, $2.0 million (NGF).
-
Renovate the baseball stadiumAuthorizes use of private donations to design and construct improvements to the existing Bud Metheny Baseball Stadium. For the biennium, $3.0 million (NGF).