University employees are scheduled to receive a 3 percent bonus this fall, the first fiscal incentive employees have received since 2007.
The bonuses will be given to eligible employees, or regular, non-temporary employees who are on salary. This includes faculty and staff members who have remained at the University despite not being offered any raises for three years.
"These bonuses are a form of appreciation. It's a way to say 'Thank you' for sticking with the University. It's been three years since we've been able to do a salary increase at all. It's not a lot, but hopefully it's a gesture of recognition," said Susan Carkeek, the University's chief human resources officer.
The state government will provide about 37.7 percent of the funds necessary to provide the bonuses through the Appropriation Act, which will give bonuses to all state employees.
"The state is giving us $2.9 million dollars, so we're putting up $4.8 million dollars," said Colette Sheehy, vice president for management and budget at the University.
The rest of the money will be funded by income generated from tuition, state money, federal grants, gifts from donors and endowment funds, Carkeek said. Some salaries will be paid for by auxiliary operations or places that generate their own revenue such as the University Housing Division or the University Bookstore, she added.
The plan to disburse bonuses to employees was first proposed by Gov. Bob McDonnell in light of a $220 million surplus in the state's budget after starting with a $1.8 billion deficit.
"Through reducing spending and making tough choices we have closed historic budget shortfalls without tax increases and run a surplus," McDonnell stated in a press release.
All Virginia state employees will receive bonuses up to 3 percent of their annual incomes, according to a press release from the governor's office.
Bonuses will be paid to University staff members who are on a biweekly payroll Nov. 26 and to faculty members who are on a monthly payroll Dec. 1.
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