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ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
2006 SESSION
(SB675)AMENDMENT(S) PROPOSED BY THE SENATE
FINANCE
1. Line 122, introduced
strike
all of lines 122 through 127
insert
By July 1 of each odd-numbered year, the University shall inform the Secretary of Finance of any intent during the next biennium to withdraw from any health or other group insurance or risk management program made available to the University through any agency, body corporate, political subdivision, authority, or other entity of the Commonwealth, and in which the University is then participating, to enable the Commonwealth’s actuaries to complete an adverse selection analysis of any such decision and to determine the additional costs to the Commonwealth that would result from any such withdrawal. If upon notice of such additional costs to the Commonwealth, the University proceeds to withdraw from such health or other group insurance or risk management program, the University shall, pursuant to subdivision D 2 c of § 23-38.88, reimburse the Commonwealth for all such additional costs attributable to such withdrawal as determined by the Commonwealth’s actuaries.
FINANCE
2. Line 147, introduced, after procurement
strike
role
insert
rule
FINANCE
3. Line 210, introduced, after $227
insert
million
FINANCE
4. Line 222, introduced, after of
insert
approximately
FINANCE
5. Line 224, introduced, after of
insert
approximately
FINANCE
6. Line 257, introduced, after program
strike
to increase institutional funds and other fund sources to moderate the impact of future tuition and fees increases for Virginia undergraduates from families with adjusted gross income of $100,000 or less, as determined by federal financial aid regulations.
insert
, which shall be substantially as described in the remainder of this Section 2.2.2, as may be amended from time to time by the Board of Visitors of Virginia Tech and reported to the Secretaries of Finance and Education and the Chairmen of Senate Committee on Finance and the House Committee on Appropriations. The Funds for the Future program was developed to increase institutional funds and other fund sources to moderate the impact of future tuition and fees increases for Virginia undergraduates from families with adjusted gross income of $100,000 or less, as determined by federal financial aid regulations.
FINANCE
7. Line 269, introduced, after Virginia
insert
Tech
FINANCE
8. Line 329, introduced, after § 2.2-3709
insert
if expressly named therein
FINANCE
9. Line 341, introduced, after Amendments.
strike
remainder of line 341, all of lines 342 and 343, and through and on line 344
insert
Any change to or deviation from this Management Agreement or the Board of Visitors policies attached hereto as Exhibits A through F shall be reported to the Secretaries of Finance, Administration, Education, and Technology and to the Chairmen of the Senate Committee on Finance and the House Committee on Appropriations and shall be posted on the University’s website. The change or deviation shall become effective unless one of the above persons notifies the University in writing within 60 days that the change or deviation is substantial and material. Any substantial and material change or deviation
FINANCE
10. Line 356, introduced, after period
strike
or
insert
of
FINANCE
11. Line 378, introduced, after of Agreement
strike
remainder of line 378 and all of lines 379 through 389
insert
. This Management Agreement shall expire at midnight on June 30, 2010.
FINANCE
12. Line 390, introduced, after executed
strike
by the undersigned as of this 15th day of November, 2005, and shall become effective on the effective date of the Appropriation Act or amendments to an Appropriation Act enacted by the General Assembly containing a recommendation for its approval
insert
as of this 15th day of November, 2005, and shall become effective on the effective date of legislation enacted into law providing for the terms of such Agreement
FINANCE
13. Line 579, introduced, after shall
insert
organizationally
FINANCE
14. Line 581, introduced, after requirement
strike
remainder of line 581 and through Maintaining on line 582
insert
by maintaining
FINANCE
15. Line 588, introduced, after project
strike
remainder of line 588 and all of lines 589 and 590
insert
. (period)
FINANCE
16. Line 714, introduced, after of
strike
property, both real and personal
insert
real property
FINANCE
17. Line 1094, introduced, after University
strike
attached to this Policy as Attachment 1
insert
, which agreement shall not be substantially different than the agreement attached to this Policy as Attachment 2
FINANCE
18. Line 2301, introduced, after line 2300
insert
ATTACHMENT 2
FINANCE
19. Line 2487, introduced, at the beginning of the line
insert
II.
FINANCE
20. Line 2529, introduced, after decentralization
strike
and codified autonomy
FINANCE
21. Line 2534, introduced, after separate
strike
health insurance and
FINANCE
22. Line 2905, introduced, after Attachment
strike
2
insert
3
FINANCE
23. Line 2920, introduced, after ATTACHMENT
strike
2
insert
3
FINANCE
24. Line 2951, introduced, after System
insert
or provide a batch file,
FINANCE
25. Line 3052, introduced, after to
strike
remainder of line 3052 and all of lines 3053 through 3055
insert
(i) ensure compliance with Generally Accepted Accounting Principles, (ii) ensure consistency with the current accounting principles employed by the Commonwealth, including the use of fund accounting principles, with regard to the establishment of the underlying accounting records of the University and the allocation and utilization of resources within the accounting system, including the relevant guidance provided by the State Council of Higher Education for Virginia chart of accounts with regard to the allocation and proper use of funds from specific types of fund sources, (iii) provide adequate risk management and internal controls to protect and safeguard all financial resources, including moneys transferred to the University pursuant to a general fund appropriation, and ensure compliance with the requirements of the Appropriation Act.
FINANCE
26. Line 3072, introduced, after summary
strike
year-end
insert
monthly
FINANCE
27. Line 3074, introduced, after Commission,
strike
the Department of Medical Assistance Services,
insert
the Auditor of Public Accounts,
FINANCE
28. Line 3075, introduced, after Virginia
insert
and for the Chairmen of the Senate Committee on Finance and the House Committee on Appropriations
FINANCE
29. Line 3078, introduced, after FINANCIAL
insert
MANAGEMENT
FINANCE
30. Line 3080, introduced, after all financial
insert
management
FINANCE
31. Line 3082, introduced, after resources.
insert
Such policies will not address the underlying accounting principles and policies employed by the Commonwealth and the University, but rather will focus on the internal operations of the University’s financial management. These policies shall include, but need not be limited to, the development of a tailored set of finance and accounting practices that seek to support the University’s specific business and administrative operating environment in order to improve the efficiency and effectiveness of its business and administrative functions.
FINANCE
32. Line 3121, introduced, after to
strike
remainder of line 3121 and all of lines 3122 through 3139
insert
expend the amount of interest earned on the University’s tuition and fees and other non-general fund Educational and General Revenues held and invested by the University until the fiscal year following the fiscal year for which it has received the required certification from the State Council of Higher Education for Virginia. The University shall hold in escrow all interest earned on the University’s tuition and fees and other non-general fund Educational and General Revenues until such time that, pursuant to subsection C of § 23-9.6:1.01, the University receives the certification that it has met for a particular year the institutional performance benchmarks called for by that section and approved in the then-current Appropriation Act. Not later than 30 days after receipt of the required State Council of Higher Education for Virginia certification (unless such 30-day period ends before July 1 in which case the relevant dates shall be no earlier than July 1 but no later than July 3), the Commonwealth shall make a non-general fund appropriation equivalent to the amount deposited in the escrow account as the financial incentive provided in subdivision 1 of § 2.2-5005, after which time the University may expend the funds for purposes related to its mission. If public institutions of higher education of the Commonwealth are permitted, or the University in particular is permitted, by the Appropriation Act or other law to retain or be paid the interest the Commonwealth would have earned on sponsored programs and research funds, then this paragraph shall not apply to such interest on such funds, and such interest shall not be held in escrow.
(iv) If in any given year the University does not receive the certification from the State Council of Higher Education for Virginia that it has met for that year the institutional benchmarks called for by subsection C of § 23-9.6:1.01 and approved in the then-current Appropriation Act, the University shall pay to the Commonwealth, not later than 30 days after notification from the State Council of Higher Education for Virginia, the balance in the escrow account as of June 30 of that year.
FINANCE
33. Line 3140, introduced, at the beginning of the line
strike
(iv)
insert
v)
FINANCE
34. Line 3145, introduced, at the beginning of the line
strike
v)
insert
vi)
FINANCE
35. Line 3148, introduced, after revenues.
strike
vi)
insert
vii)
FINANCE
36. Line 3217, introduced, after schedule:
strike
remainder of line 3217, all of line 3218, and through above), on line 3219
insert
i) the University may draw down one-twenty-fourth (1/24) of its annual general fund appropriation for Educational and General programs on the first and fifteenth days of each month
FINANCE
37. Line 3255, introduced, after Debt
insert
, as determined by the Treasury Board,
FINANCE
38. Line 3294, introduced, after withdrawal
insert
, as determined by the Commonwealth’s actuaries
FINANCE
39. Line 3415, introduced, after Costs.
strike
remainder of line 3415 and all of lines 3416 through 3421
insert
By July 1 of each odd-numbered year, the College shall inform the Secretary of Finance of any intent during the next biennium to withdraw from any health or other group insurance or risk management program made available to the College through any agency, body corporate, political subdivision, authority, or other entity of the Commonwealth, and in which the College is then participating, to enable the Commonwealth’s actuaries to complete an adverse selection analysis of any such decision and to determine the additional costs to the Commonwealth that would result from any such withdrawal. If upon notice of such additional costs to the Commonwealth, the College proceeds to withdraw from such health or other group insurance or risk management program, the College shall, pursuant to subdivision D 2 c of § 23-38.88, reimburse the Commonwealth for all such additional costs attributable to such withdrawal as determined by the Commonwealth’s actuaries.
FINANCE
40. Line 3516, introduced, after total of
insert
approximately
FINANCE
41. Line 3518, introduced, after of
insert
approximately
FINANCE
42. Line 3551, introduced, after Mary
insert
, which shall be substantially as described in the remainder of this Section 2.2.2, as may be amended from time to time by the Board of Visitors of the College and reported to the Secretaries of Finance and Education and the Chairmen of Senate Committee on Finance and the House Committee on Appropriations
FINANCE
43. Line 3565, introduced, after College
strike
(see Goal 6 below)
FINANCE
44. Line 3624, introduced, after § 2.2-3709
insert
if expressly named therein
FINANCE
45. Line 3636, introduced, after Amendments.
strike
remainder of line 3636, all of lines 3637 and 3638, and through and on line 3639
insert
Any change to or deviation from this Management Agreement or the Board of Visitors policies attached hereto as Exhibits G through L shall be reported to the Secretaries of Finance, Administration, Education, and Technology and to the Chairmen of the Senate Committee on Finance and the House Committee on Appropriations and shall be posted on the College’s website. The change or deviation shall become effective unless one of the above persons notifies the College in writing within 60 days that the change or deviation is substantial and material. Any substantial and material change or deviation
FINANCE
46. Line 3673, introduced, after of Agreement
strike
remainder of line 3673 and all of lines 3674 through 3683
insert
. This Management Agreement shall expire at midnight on June 30, 2010.
FINANCE
47. Line 3684, introduced, after executed
strike
remainder of line 3684, all of lines 3685 and 3686, and through approval on line 3687
insert
as of this 15th day of November, 2005, and shall become effective on the effective date of legislation enacted into law providing for the terms of such Agreement
FINANCE
48. Line 3867, introduced, after shall
insert
organizationally
FINANCE
49. Line 3869, introduced, after requirement
strike
remainder of line 3869 and through Maintaining on line 3870
insert
by maintaining
FINANCE
50. Line 3876, introduced, after project
strike
remainder of line 3876 and all of lines 3877 and 3878
insert
. (period)
FINANCE
51. Line 3997, introduced, after of
strike
property, both real and personal
insert
real property
FINANCE
52. Line 5610, introduced, at the beginning of the line
insert
II.
FINANCE
53. Line 6151, introduced, after to
strike
remainder of line 6151 and all of lines 6152 and 6153
insert
(i) ensure compliance with Generally Accepted Accounting Principles, (ii) ensure consistency with the current accounting principles employed by the Commonwealth, including the use of fund accounting principles, with regard to the establishment of the underlying accounting records of the College and the allocation and utilization of resources within the accounting system, including the relevant guidance provided by the State Council of Higher Education for Virginia chart of accounts with regard to the allocation and proper use of funds from specific types of fund sources, (iii) provide adequate risk management and internal controls to protect and safeguard all financial resources, including moneys transferred to the College pursuant to a general fund appropriation, and ensure compliance with the requirements of the Appropriation Act.
FINANCE
54. Line 6169, introduced, after summary
strike
year-end
insert
monthly
FINANCE
55. Line 6171, introduced, after Commission,
insert
the Auditor of Public Accounts,
FINANCE
56. Line 6172, introduced, after Virginia
insert
and for the Chairmen of the Senate Committee on Finance and the House Committee on Appropriations
FINANCE
57. Line 6175, introduced, after FINANCIAL
insert
MANAGEMENT
FINANCE
58. Line 6176, introduced, after all financial
insert
management
FINANCE
59. Line 6178, introduced, after resources.
insert
Such policies will not address the underlying accounting principles and policies employed by the Commonwealth and the College, but rather will focus on the internal operations of the College’s financial management. These policies shall include, but need not be limited to, the development of a tailored set of finance and accounting practices that seek to support the College’s specific business and administrative operating environment in order to improve the efficiency and effectiveness of its business and administrative functions.
FINANCE
60. Line 6217, introduced, after to
strike
remainder of line 6217 and all of lines 6218 through 6234
insert
expend the amount of interest earned on the College’s tuition and fees and other non-general fund Educational and General Revenues held and invested by the College until the fiscal year following the fiscal year for which it has received the required certification from the State Council of Higher Education for Virginia. The College shall hold in escrow all interest earned on the College’s tuition and fees and other non-general fund Educational and General Revenues until such time that, pursuant to subsection C of § 23-9.6:1.01, the College receives the certification that it has met for a particular year the institutional performance benchmarks called for by that section and approved in the then-current Appropriation Act. Not later than 30 days after receipt of the required State Council of Higher Education for Virginia certification (unless such 30-day period ends before July 1 in which case the relevant dates shall be no earlier than July 1 but no later than July 3), the Commonwealth shall make a non-general fund appropriation equivalent to the amount deposited in the escrow account as the financial incentive provided in subdivision 1 of § 2.2-5005, after which time the College may expend the funds for purposes related to its mission. If public institutions of higher education of the Commonwealth are permitted, or the College in particular is permitted, by the Appropriation Act or other law to retain or be paid the interest the Commonwealth would have earned on sponsored programs and research funds, then this paragraph shall not apply to such interest on such funds, and such interest shall not be held in escrow.
(iv) If in any given year the College does not receive the certification from the State Council of Higher Education for Virginia that it has met for that year the institutional benchmarks called for by subsection C of § 23-9.6:1.01 and approved in the then-current Appropriation Act, the College shall pay to the Commonwealth, not later than 30 days after notification from State Council of Higher Education for Virginia, the balance in the escrow account as of June 30 of that year.
FINANCE
61. Line 6235, introduced, at the beginning of the line
strike
iv)
insert
v)
FINANCE
62. Line 6240, introduced, at the beginning of the line
strike
v)
insert
vi)
FINANCE
63. Line 6244, introduced, at the beginning of the line
strike
vi)
insert
vii)
FINANCE
64. Line 6311, introduced, after down
strike
remainder of line 6311, all of line 6312, and through above), on line 6313
insert
one-twenty-fourth (1/24) of its annual general fund appropriation for Educational and General programs on the first and fifteenth days of each month
FINANCE
65. Line 6346, introduced, after Debt
insert
, as determined by the Treasury Board,
FINANCE
66. Line 6391, introduced, after withdrawal
insert
, as determined by the Commonwealth’s actuaries
FINANCE
67. Line 6519, introduced, after Costs.
strike
remainder of line 6519 and all of lines 6520 through 6525
insert
By July 1 of each odd-numbered year, the University shall inform the Secretary of Finance of any intent during the next biennium to withdraw from any health or other group insurance or risk management program made available to the University through any agency, body corporate, political subdivision, authority, or other entity of the Commonwealth, and in which the University is then participating, to enable the Commonwealth’s actuaries to complete an adverse selection analysis of any such decision and to determine the additional costs to the Commonwealth that would result from any such withdrawal. If upon notice of such additional costs to the Commonwealth, the University proceeds to withdraw from such health or other group insurance or risk management program, the University shall, pursuant to subdivision D 2 c of § 23-38.88, reimburse the Commonwealth for all such additional costs attributable to such withdrawal as determined by the Commonwealth’s actuaries.
FINANCE
68. Line 6580, introduced, after pursuant to
strike
§
insert
§ 32.1-325
FINANCE
69. Line 6630, introduced, after of
insert
approximately
FINANCE
70. Line 6632, introduced, after of
insert
approximately
FINANCE
71. Line 6668, introduced, after program
strike
includes the following components:
insert
shall be substantially as described in the remainder of this Section 2.2.2, as may be amended from time to time by the Board of Visitors of the University and reported to the Secretaries of Finance and Education and the Chairmen of Senate Committee on Finance and the House Committee on Appropriations.
FINANCE
72. Line 6779, introduced, after Amendments.
strike
remainder of line 6779, all of lines 6780 and 6781, and through and on line 6782
insert
Any change to or deviation from this Management Agreement or the Board of Visitors policies attached hereto as Exhibits M through R shall be reported to the Secretaries of Finance, Administration, Education, and Technology and to the Chairmen of the Senate Committee on Finance and the House Committee on Appropriations and shall be posted on the University’s website. The change or deviation shall become effective unless one of the above persons notifies the University in writing within 60 days that the change or deviation is substantial and material. Any substantial and material change or deviation
FINANCE
73. Line 6816, introduced, after of Agreement
strike
remainder of line 6816 and all of lines 6817 through 6827
insert
. This Management Agreement shall expire at midnight on June 30, 2010.
FINANCE
74. Line 6828, introduced, after executed
strike
by the undersigned as of this 15th day of November, 2005, and shall become effective on the effective date of the Appropriation Act or amendments to an Appropriation Act enacted by the General Assembly containing a recommendation for its approval
insert
as of this 15th day of November, 2005, and shall become effective on the effective date of legislation enacted into law providing for the terms of such Agreement
FINANCE
75. Line 7033, introduced, after shall
insert
organizationally
FINANCE
76. Line 7035, introduced, after requirement
strike
remainder of line 7035 and through Maintaining on line 7036
insert
by maintaining
FINANCE
77. Line 7042, introduced, after project
strike
remainder of line 7042 and all of lines 7043 and 7044
insert
. (period)
FINANCE
78. Line 7167, introduced, after of
strike
property, both real and personal
insert
real property
FINANCE
79. Line 7571, introduced, after University
strike
attached to this Policy as Attachment 1
insert
, which agreement shall not be substantially different than the agreement attached to this Policy as Attachment 2
FINANCE
80. Line 8779, introduced, after line 8778
insert
ATTACHMENT 2
FINANCE
81. Line 8971, introduced, at the beginning of the line
insert
II.
FINANCE
82. Line 9248, introduced, after be
strike
except
insert
exempt
FINANCE
83. Line 9431, introduced, after Attachment
strike
2
insert
3
FINANCE
84. Line 9447, introduced, after ATTACHMENT
strike
2
insert
3
FINANCE
85. Line 9584, introduced, after to
strike
remainder of line 9584 and all of lines 9585 through 9587
insert
(i) ensure compliance with Generally Accepted Accounting Principles, (ii) ensure consistency with the current accounting principles employed by the Commonwealth, including the use of fund accounting principles, with regard to the establishment of the underlying accounting records of the University and the allocation and utilization of resources within the accounting system, including the relevant guidance provided by the State Council of Higher Education for Virginia chart of accounts with regard to the allocation and proper use of funds from specific types of fund sources, (iii) provide adequate risk management and internal controls to protect and safeguard all financial resources, including moneys transferred to the University pursuant to a general fund appropriation, and ensure compliance with the requirements of the Appropriation Act.
FINANCE
86. Line 9604, introduced, after summary
strike
year-end
insert
monthly
FINANCE
87. Line 9606, introduced, after Services,
insert
the Auditor of Public Accounts,
FINANCE
88. Line 9607, introduced, after Virginia
insert
and for the Chairmen of the Senate Committee on Finance and the House Committee on Appropriations
FINANCE
89. Line 9610, introduced, after FINANCIAL
insert
MANAGEMENT
FINANCE
90. Line 9612, introduced, after all financial
insert
management
FINANCE
91. Line 9614, introduced, after resources.
insert
Such policies will not address the underlying accounting principles and policies employed by the Commonwealth and the University, but rather will focus on the internal operations of the University’s financial management. These policies shall include, but need not be limited to, the development of a tailored set of finance and accounting practices that seek to support the University’s specific business and administrative operating environment in order to improve the efficiency and effectiveness of its business and administrative functions.
FINANCE
92. Line 9652, introduced, after to
strike
remainder of line 9652 and all of lines 9653 through 9670
insert
expend the amount of interest earned on the University’s tuition and fees and other non-general fund Educational and General Revenues held and invested by the University until the fiscal year following the fiscal year for which it has received the required certification from the State Council of Higher Education for Virginia. The University shall hold in escrow all interest earned on the University’s tuition and fees and other non-general fund Educational and General Revenues until such time that, pursuant to subsection C of § 23-9.6:1.01, the University receives the certification that it has met for a particular year the institutional performance benchmarks called for by that section and approved in the then-current Appropriation Act. Not later than 30 days after receipt of the required State Council of Higher Education for Virginia certification (unless such 30-day period ends before July 1 in which case the relevant dates shall be no earlier than July 1 but no later than July 3), the Commonwealth shall make a non-general fund appropriation equivalent to the amount deposited in the escrow account as the financial incentive provided in subdivision 1 of § 2.2-5005, after which time the University may expend the funds for purposes related to its mission. If public institutions of higher education of the Commonwealth are permitted, or the University in particular is permitted, by the Appropriation Act or other law to retain or be paid the interest the Commonwealth would have earned on sponsored programs and research funds, then this paragraph shall not apply to such interest on such funds, and such interest shall not be held in escrow.
(iv) If in any given year the University does not receive the certification from the State Council of Higher Education for Virginia that it has met for that year the institutional benchmarks called for by subsection C of § 23-9.6:1.01 and approved in the then-current Appropriation Act, the University shall pay to the Commonwealth, not later than 30 days after notification from the State Council of Higher Education for Virginia, the balance in the escrow account as of June 30 of that year.
FINANCE
93. Line 9671, introduced, at the beginning of the line
strike
iv)
insert
v)
FINANCE
94. Line 9676, introduced, at the beginning of the line
strike
v)
insert
vi)
FINANCE
95. Line 9680, introduced, at the beginning of the line
strike
vi)
insert
vii)
FINANCE
96. Line 9750, introduced, after down
strike
remainder of line 9750, all of line 9751, and through above), on line 9752
insert
one-twenty-fourth (1/24) of its annual general fund appropriation for Educational and General programs on the first and fifteenth days of each month
FINANCE
97. Line 9787, introduced, after Debt
insert
, as determined by the Treasury Board,
FINANCE
98. Line 9833, introduced, after withdrawal
insert
, as determined by the Commonwealth’s actuaries
FINANCE
99. Line 9835, introduced, after line 9834
insert
4. That the provisions of the first, second, and third enactments of this Act shall supersede the terms of any management agreement between the Commonwealth and Virginia Polytechnic Institute and State University, The College of William and Mary in Virginia, and The University of Virginia, respectively, that was entered into prior to January 1, 2006. Any such management agreement entered into prior to January 1, 2006, shall be deemed incorporated into this Act.
5. That the provisions of the first, second, and third enactments of this Act shall expire at midnight on June 30, 2010. The expiration of such enactments shall automatically result in the expiration of the provisions of any management agreement between the Commonwealth and Virginia Polytechnic Institute and State University, The College of William and Mary in Virginia, and The University of Virginia, respectively, which was entered into prior to January 1, 2006, and incorporated into this Act.