The 2009 Executive Budget Document
Virginia College Savings Plan
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 History
General Fund | Nongeneral Fund | Positions | |
---|---|---|---|
2005 Appropriation | $ 0 | $ 3,899,222 | 50.00 |
2006 Appropriation | $ 0 | $ 3,899,222 | 50.00 |
2007 Appropriation | $ 0 | $ 90,081,427 | 60.00 |
2008 Appropriation | $ 0 | $ 106,160,664 | 60.00 |
General Fund | Nongeneral Fund | Positions | |
---|---|---|---|
2009 Base Budget | $ 0 | $ 137,484,273 | 60.00 |
2009 Addenda | $ 0 | $ 0 | 0.00 |
2009 Total | $ 0 | $ 137,484,273 | 60.00 |
2010 Base Budget | $ 0 | $ 152,777,894 | 60.00 |
2010 Addenda | $ 0 | $ 10,675,000 | 0.00 |
2010 Total | $ 0 | $ 163,452,894 | 60.00 |
Recommended Operating Budget Addenda
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Increase nongeneral fund appropriation to meet Virginia Education Savings Trust and Virginia Prepaid Education Program obligationsIncreases the nongeneral fund appropriation for the Virginia College Savings Plan to meet obligations under Virginia Education Savings Trust and Virginia Prepaid Education Program, including tuition, fees, other educational expenses, and rollovers. For 2010, $10.0 million (NGF).
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Increase nongeneral fund appropriation to cover additional expensesIncreases the nongeneral fund appropriation for the Virginia College Savings Plan to cover additional expenses for providing services to other college savings plans at locations outside of Virginia. For 2010, $75,000 (NGF).
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Increase the nongeneral fund appropriation to expand services and associated staffing needsIncreases the nongeneral fund appropriation for the Virginia College Savings Plan to cover the costs to provide services under agency programs. For 2010, $600,000 (NGF).