A LETTER FROM PRESIDENT RUNTE
December 20, 2004
I am very pleased to share with you the excellent news of the impact the Governor's proposed budget would have on Old Dominion University. I am grateful to the Governor for his wise investment in higher education. I have outlined the recommendations below.
We would receive the following additional amounts:
* $1.5 million added to the base for enrollment and degrees conferred;
* $107,356 for graduate student financial aid;
* Operating and maintenance funds for new buildings coming on-line;
* $412,500 one-time research funding. Research funding was awarded to three universities in Virginia: ODU, Virginia and Virginia Tech;
* The general fund share for faculty and classified salary increases of 3%;
* Increased authorizations for non-general funded projects, including the indoor tennis center, the Elizabeth River waterfront development, the relocation and expansion of athletic facilities, the Village parking garage, the 49th Street parking garage, and the 43rd Street garage;
* Increased general fund support for our General Obligation Bond projects to reflect increased cost of steel and other construction-related expenses;
* Equipment funding for the Physical Science Building, Phase II;
* Authority for lease arrangements for a parking garage and research/office building in the Village.
When combined with the funds received last year, the prospects for Old Dominion are much improved.
I would like to thank all of our colleagues who worked with me on the budget proposals and, in particular, John Broderick, Elizabeth Wallace, Bob Fenning, and Deb Swiecinski, for their fine work in putting together our materials and representing Old Dominion University so well in Richmond.
We will all continue to work assiduously to enhance the university=s financial prospects. It is nonetheless appropriate to pause and appreciate the wisdom and willingness of the Governor to invest in higher education as a means to economic development.
This article was posted on: December 20, 2004
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Old Dominion University is an equal opportunity, affirmative action institution.