The 2008 Executive Budget Document
Radford University
Mission Statement
Radford University serves the Commonwealth and the nation through a wide range of academic, cultural, human service, and research programs. First and foremost, the university emphasizes teaching, learning, and the process of learning in its commitment to the development of mature, responsible, well-educated citizens. RU develops students' creative and critical thinking skills, teaches students to analyze problems and implement solutions, helps students discover their leadership styles, and fosters their growth as leaders. Research is viewed as a vital corollary to the teaching and learning transaction as it sustains and enhances the ability to teach effectively.
Operating Budget History
General Fund | Nongeneral Fund | Positions | |
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2005 Appropriation | $ 41,247,891 | $ 77,075,281 | 1,297.04 |
2006 Appropriation | $ 44,447,679 | $ 83,649,331 | 1,362.04 |
2007 Appropriation | $ 53,107,916 | $ 87,213,956 | 1,371.04 |
2008 Appropriation | $ 56,662,208 | $ 89,191,572 | 1,371.04 |
General Fund | Nongeneral Fund | Positions | |
---|---|---|---|
2009 Base Budget | $ 56,662,208 | $ 89,191,572 | 1,371.04 |
2009 Addenda | $ 2,047,273 | $ 13,458,982 | 19.00 |
2009 Total | $ 58,709,481 | $ 102,650,554 | 1,390.04 |
2010 Base Budget | $ 56,662,208 | $ 89,191,572 | 1,371.04 |
2010 Addenda | $ 2,047,273 | $ 17,034,881 | 19.00 |
2010 Total | $ 58,709,481 | $ 106,226,453 | 1,390.04 |
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, $2.2 million (GF) and $1.5 million (NGF).
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Reduce funding for Virginia Economic BridgeRemoves pass through funding included in the University's budget for the Virginia Economic Bridge. For each year, a reduction of $100,000 (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, $419,624 (GF).
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Continue funding for the FY 2008 nursing faculty salary increaseContinues funding for the nursing salary increase effective November 25, 2007. For each year, $95,666 (GF).
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Adjust nongeneral fund appropriation for auxiliary enterprise programsIncreases the nongeneral fund appropriation to accommodate additional revenue to support auxiliary enterprise programs. For each year, $8.2 million (NGF).
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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, $123,980 (GF).
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Redistribute tuition revenue from the education and general programs to support undergraduate financial aidTransfers a portion of tuition and fee revenue designated for undergraduate scholarships approved by the University's Board of Visitors to the financial aid program. For each year, a reduction of $1.1 million (NGF).
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Redistribute tuition revenue to support undergraduate financial aidTransfers a portion of tuition and fees from the educational and general programs which has been designated for undergraduate scholarships as approved by the university's board of visitors. For each year, $1.1 million (NGF).
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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, $670,333 (GF).
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Increase nongeneral fund appropriation for education and general programsAdjusts the nongeneral fund appropriation to reflect anticipated tuition and fee revenue for educational and general programs. For 2009, $3.3 million (NGF). For 2010, $6.9 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 $2.4 million (GF) and one position. For 2010, a decrease of $2.4 million (GF).
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Increase undergraduate student financial assistanceIncreases funding for need-based financial aid for in-state undergraduate students. For each year, $474,538 (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, $628,056 (GF) and $401,544 (NGF).
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Increase education and general approved position levelIncreases the position level authority in support of additional staff needed in the understaffed areas of academic advising, administrative support, and assessment and compliance reporting. These positions will be funded through a reallocation of existing resources. For 2009, 20 positions.
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Amend doctoral degree language authorityAuthorizes the university to offer a Doctor of Therapy (DPT) degree and Master of Occupational Therapy (MOT) if approved by the State Council of Higher Education in Virginia (SCHEV). The programs are currently undergoing review for approval through SCHEV.
Capital Totals for the Biennium
General Fund 2008-10 Biennium |
Nongeneral Fund 2008-10 Biennium |
Debt 2008-10 Biennium |
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$ 0 | $ 29,592,000 | $ 124,833,000 |
Recommended Capital Budget Addenda
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Renovate Young HallProvides funds for the cost of equipment and furnishings for Young 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, $284,000 (NGF).
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Renovate Davis HallProvides funds for the cost of equipment and furnishings for Davis 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, $149,000 (NGF).
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Construct Parking DeckProvides funds to construct a 350 space multi-level parking deck to increase the convenience and accessibility to campus. This project will be funded from the issuance of 9(d) revenue bonds. For the biennium, $11.7 million (NGF).
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Construct new Forensic InstituteProvides funds to create a designated space for the Forensic Institute. A defined space and location will allow the university to increase the program enrollment and provide research and meeting space. This project will be funded with private funds. For the biennium, $4.6 million (NGF).
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Acquire propertyProvides authorization for the acquisition of property, as it becomes available, located within the proximity of campus. This project will be funded through auxiliary enterprises. For the biennium, $5.0 million (NGF).
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Construct student fitness centerProvides funds to construct a new fitness center to synergize student involvement and guidance in wellness activities. Currently, activities are scattered throughout the campus, because a central facility is not available. A dedicated facility will solve the fragmented manner in which services are provided. This project will be funded from the issuance of 9(d) revenue bonds. For the biennium, $32.0 million (NGF).
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Construct addition to Hurlburt HallProvides funds to expand the Hurlburt Student Center to include conference rooms, lounge space, student offices and programming areas. This project will be funded from auxiliary enterprises and the issuance of 9(d) revenue bonds. For the biennium, $20.0 million (NGF).
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Construct new residence hallsProvide funds for the construction of three new residence halls on campus. The construction of these new residence halls will provide student housing configured to fit today's student needs. This project will be funded from the issuance of 9(c) revenue bonds. For the biennium, $36.0 million (NGF).
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Construct College of Business and Economics BuildingProvides funds for new a building for the College of Business and Economics. The new facility will have smart classrooms, a specialized "Wall-Street" trading room, distance learning classrooms, computer labs, a business assistance center, centers for entrepreneurial studies and personal financial planning and office spaces. This project will be funded with private funds and the issuance of bonds through the Virginia College Building Authority. For the biennium, $44.7 million (NGF).