February 25, 2013
This weekend, the Virginia General Assembly passed its amendments to the 2012-2014 biennial budget.
I am pleased to report that Governor McDonnell and the General Assembly have once again recognized Old Dominion's significant contributions to the Commonwealth, and as such, have provided an additional $5.5 million in base funding to the University for FY14. Additionally, the legislature included the New Education Building in its capital plan.
Old Dominion also received $904,121 in financial aid funds, as well as $125,000 to fund a study of a potential partnership with Eastern Virginia Medical School for the creation of the Commonwealth's first School of Public Health.
The General Assembly approved a 3 percent salary increase for faculty, and a 2 percent increase for classified staff. To address compression issues, the legislature also approved an additional increase of $65 per year of service for classified employees who have five or more years of service. The university's portion of the cost of the compensation increase will, in part, be funded with these new funds provided in the budget process.
I wish to thank Governor McDonnell and the General Assembly, especially the Hampton Roads delegation, for their continuing support and commitment to both Old Dominion University and higher education in general. I also wish to thank the members of our Board of Visitors and for their assistance in securing this additional funding for our university. Finally, I'd like to thank Elizabeth Kersey for her hard work and dedication in representing the university, and send congratulations to her and her husband, Brandon, on the birth of their second child, Liam, last Thursday!
John R. Broderick