![]() | Board of Visitors minutes January 31, 2003 | ![]() |
A. Business Justification for Program
The University of Virginia was directed by the Governor to reduce its General Fund appropriation for the 2002-2004 Budget Biennium by 16%, followed by another 12% in Fiscal Year 2003 and 14% in Fiscal Year 2004, for a total of $93.5 million as of December 1, 2002. Further, the Governor has warned state agencies that more cuts may be necessary, particularly for 2003-2004. As a result, the University is
8
- 1. Each Vice President was required to develop a plan to meet projected reductions in his or her areas.
- 2. Budgetary units within each Vice President's reporting line underscored that their ability to meet reduced targets may depend on a reduction of personnel, especially at the faculty level.
- 3. The University strongly favors meeting reduction targets through the use of voluntary separations; however, the University reserves the right to pursue involuntary separations in accordance with University and Commonwealth policies in the event that sufficient savings cannot be obtained through this voluntary Separation Program.
![]() | Board of Visitors minutes January 31, 2003 | ![]() |