The University could see large increases in funding and new capital improvement projects if the 2002-2004 biennium budget recommendations made by the State Council of Higher Education for Virginia last week are approved.
The budget recommendations will be submitted to Gov. James S. Gilmore III and the General Assembly for approval when the next legislative session starts in January.
SCHEV recommended a total of more than $330 million for adequate funding for state institutions' base operations, faculty salaries, student financial aid and technology equipment purchases.
Part of this would include starting a "four-year phase-in plan" to go toward "base budget adequacy." The funding would go to improving core instructional operations, including academic support student services and instructional support.
Recommended funding increases in this area were the result of an 18-month study conducted by SCHEV that compared Virginia's public institutions to other similar public institutions. The study found that 14 out of 17 Virginia institutions were underfunded, SCHEV Finance Policy Director Amy Sebring said.
Sebring also said the study revealed the University was underfunded by $17.7 million. Under the new plan SCHEV is recommending, the University would start receiving comparable funds in 2003.
If the University receives the funds, it may consider "hiring more faculty for stressed departments," said Colette Sheehy, University vice president for management and budget.
SCHEV also recommended that salaries for current faculty members increase. SCHEV officials would like to bring state-wide faculty salaries into the 60th percentile among national peer institutions by the end of the biennium.
Increased salaries also were proposed to compensate for the fact that faculty members did not receive increases this year, Sebring said.
Under the new plan, faculty salaries would increase by an average of 6 percent across the state. At the University, faculty salaries will increase 7.5 percent if the plan is approved.
"We always tend to lag our peer group" because it is so competitive, Sheehy said.
She said the faculty salary increase would be a "positive thing."
SCHEV also is recommending large increases in spending for capital improvements. It suggests that $106.5 million be devoted to maintenance projects at higher education institutions.
This would be the first installment in a 10-year plan to improve facilities at public campuses.
The plan also includes $970 million for a "capital catch-up package." These funds would go toward previously recommended but unfunded new construction and renovation projects, justified based on analysis of space needs, current space utilization and programmatic review.
SCHEV is recommending that $86 million go toward construction projects at the University for the next biennium.
Some of the improvements SCHEV is suggesting at the University are a new Arts & Sciences building and renovations of Cocke, Gilmer and Fayerwether halls. Also included is construction of Medical Research Building 6 and construction of a material science and nanotechnology Building.
The projects are planned for the next two years, but it "usually takes institutions from a year to 18 months to plan a project and start construction," Sebring said.
But the University is "usually very quick at turning projects out," she said.
University officials already have started planning for a number of projects, Sheehy said.
If the University had the money for the Fayerwether Hall project it "could bid the project in a few months," she said.
Plans also include $170 million for a new Higher Education Capital Renovation Trust Fund.
Institutions usually have to ask the state for each appropriation they want to make, Sebring said. However, with the trust fund, "the state would just provide a pot of money" to each institution. With that, each institution could "decide which of its renovations are most critical" and devote money to those.
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