September 11, 2014
MEMORANDUM
TO:
The Finance Committee:
Victoria D. Harker, Chair
John A. Griffin, Vice Chair
Frank B. Atkinson
L.D. Britt, M.D.
Kevin J. Fay
John G. Macfarlane III
John L. Nau III
George Keith Martin, Ex Officio
Daniel M. Meyers, Consulting Member
Raymond C. Scheppach, Faculty Consulting Member
and
The Remaining Members of the Board and Senior Advisor:
Frank M. Conner III
Allison Cryor DiNardo
Helen E. Dragas
Barbara J. Fried
Frank E. Genovese
William H. Goodwin Jr.
Bobbie G. Kilberg
Stephen P. Long, M.D.
Edward D. Miller, M.D.
Margaret N. Gould
Leonard W. Sandridge Jr.
FROM:
Susan G. Harris
SUBJECT:
Minutes of the Finance Committee Meeting on September
11, 2014
The Finance Committee of the Board of Visitors of the University
of Virginia met, in Open Session, at 3:20 p.m. on Thursday, September
11, 2014, in the Auditorium of the Albert & Shirley Small Special
Collections Library of the Harrison Institute; Victoria D. Harker,
Chair, presided.
Present were John A. Griffin, Frank B. Atkinson, L.D. Britt,
M.D., Kevin J. Fay, John G. Macfarlane III, and George Keith Martin.
Edward D. Miller, M.D., Frank M. Conner III, Helen E. Dragas,
Frank E. Genovese, Barbara J. Fried, and Stephen P. Long, M.D also
attended.
Finance Committee
September 11, 2014
2.
Also present were Daniel Maxwell Meyers, the Consulting Member
from the Council of Foundations, Raymond C. Scheppach, the faculty
consulting member, and Leonard W. Sandridge.
Present as well were Teresa A. Sullivan, Susan Carkeek, Patrick
D. Hogan, Susan G. Harris, Donna Price Henry, Richard C. Kast, David
W. Martel, Marcus M. Martin, M.D., Debra D. Rinker, Nancy A. Rivers,
Colette Sheehy, John D. Simon, Thomas C. Skalak, Pamela M. SuttonWallace, Robert D. Sweeney, Melody S. Bianchetto, Mark W. Clark,
Lawrence E. Kochard, Megan K. Lowe, Patricia A. Hartsook, and Roscoe
C. Roberts.
_ _ _ _ _ _ _ _ _ _
Action Item: 2015 Operating and Capital Amendments to the 2014-2016
Biennial Budget
Mr. Hogan introduced Ms. Sheehy to present the item. Ms. Sheehy
explained the operating and capital amendments and cautioned that the
University has been judicious in what they are presenting because they
have no instructions from the State. The Academic Division amendments
relate to undergraduate enrollment growth and STEM-H faculty start-up
packages. The College at Wise amendments relate to student retention
management and compliance with federal mandates and accreditation
requirements. A summary of the operating and capital amendments
follows:
AGENCY 207 - Academic Division
Fund Enrollment Growth – ($778,232 GF in year one and $1,411,080 GF in
year two) – The University requests general fund support, at $8,552
per student from the October 2013 calculation of the base budget
adequacy formula, to educate 91 additional Virginia undergraduates in
fall 2014 (enrollment exceeded projection of 155 in-state students by
91 in-state students) and 74 additional Virginia undergraduates in
fall 2015. The State Council of Higher Education for Virginia will
update the base budget adequacy model with more current enrollment
data, so the per-student funding calculation will likely change. We
will want to revise our amendment to conform to the most recent
calculation available.
Fund Start-up Packages for Faculty – ($5.4 million ETF in year two) –
The University requests funding through the Equipment Trust Fund (ETF)
for start-up packages necessary to recruit new faculty, particularly
in the science, technology, engineering, and math (STEM) disciplines,
to support expected enrollment growth and anticipated retirements over
the next several years. The start-up packages will average $650,000
per faculty to be paid out over three years as the new faculty
establish their research programs at the University. The funds will
provide critical resources and support for new faculty in the STEM
fields and will not be used for base salary support or signing bonuses
for new faculty. Debt service on the ETF allocation would not be
incurred until fiscal year 2016-2017.
Finance Committee
September 11, 2014
3.
AGENCY 246 – University of Virginia’s College at Wise
Retention and Graduation - ($445,824 GF in year two) – In
collaboration with Noel Levitz, the College at Wise has developed a
predictive retention management intake model to better direct
retention efforts and resources to those students who demonstrate the
greatest risk of not returning after their first year. The funding
will provide the necessary resources and support for success coaching,
peer mentoring, and more intensive academic advising.
Compliance with Mandates and Requirements - ($286,942 GF in year two)
– The College requests funding to address increasing compliance
requirements with various federal mandates (the Clery Act, Title IX,
and the Violence against Women Act [VAWA]) and SACSCOC (SACS)
institutional accreditation standards. The extensive reporting and
training for compliance mandates is being assigned to current
employees whose primary responsibilities are critical to the service
of the College’s students. These additional duties to meet compliance
mandates have created time and financial constraints on departments.
These funds will assist the College in meeting compliance requirements
and mandates from SACS, Title IX, and Clery.
On motion, the resolution was approved by the committee.
2015 OPERATING AND CAPITAL AMENDMENTS TO THE 2014-2016 BIENNIAL BUDGET
WHEREAS, the Academic Division, the Medical Center, and the
College at Wise have an opportunity to propose budget amendments for
consideration by the Governor in the amended 2014-2016 budget; and
WHEREAS, the six-year plans previously approved by the Board of
Visitors and submitted to the state by the Academic Division and the
College at Wise provide the basis for the proposed amendments;
RESOLVED, the Board of Visitors of the University of Virginia
approves the proposed amendments to the 2014-2016 biennial budget; and
RESOLVED FURTHER, the Board of Visitors understands that to the
extent these initiatives are not included in the Governor’s
2014-2016 amended budget, the University may want to pursue similar
requests to the General Assembly; and
RESOLVED FURTHER, the President or her designee is authorized to
transmit to the General Assembly any request not funded by the
Governor as long as there are no material differences from the items
already endorsed by the Board of Visitors.
Action Item: Amended 2014-2020 State Six-Year Plans for the Academic
Division and the College at Wise
Ms. Sheehy said amendments this year are an update of the plan
that was submitted last year. She gave an overview of the Academic
Finance Committee
September 11, 2014
4.
Division and College at Wise amendments. On motion, the committee
approved the resolution. Ms. Harker said the plan dovetails with the
Cornerstone Plan. (The amended 2014-2020 State Six-year Plans are
attached.)
AMENDED 2014-2020 STATE SIX-YEAR PLANS FOR THE ACADEMIC DIVISION AND
THE COLLEGE AT WISE
WHEREAS, § 23-38.87:17 of the Virginia Higher Education
Opportunity Act of 2011 requires the governing boards of all public
institutions of higher education to develop and adopt
biennially (each odd-numbered year) and amend or affirm annually (each
even-numbered year) an institutional six-year plan and
submit that plan to the State Council of Higher Education for Virginia
(SCHEV), the Governor, and the Chairs of the House Appropriations and
Senate Finance Committees; and
WHEREAS, the University submitted its preliminary amended plans
for the Academic Division and the College at Wise as required on
August 4, 2014, refining the general strategies it outlined in 2013 to
advance the objectives of the Act and to enhance teaching, research,
and service; and
WHEREAS, final amended institutional plans must be approved by
the Board of Visitors and submitted to SCHEV, the Governor, and the
Chairs of the House Appropriations and Senate Finance Committees in
October;
RESOLVED, the Board of Visitors approves the final amended 20142020 six-year institutional plans for the Academic Division
(Attachment A) and the University’s College at Wise (Attachment B);
and
RESOLVED FURTHER, the President is authorized to transmit the
amended six-year plans to SCHEV, the Governor, and the Chairs of the
House Appropriations and Senate Finance Committees.
Action Item: Revision to the Major Capital Projects Program –
McCormick Road Residence Hall Renovations
Ms. Sheehy said there
alternatives to renovating
construction would be much
the committee approved the
is a report in the materials about
the McCormick Road dorms. She said new
more expensive than renovating. On motion,
following resolution.
REVISION TO THE MAJOR CAPITAL PROJECTS PROGRAM – MCCORMICK ROAD
RESIDENCE HALL RENOVATION
WHEREAS, the University examined a number of options to address
the need to modernize the McCormick Road Residence Halls, including
demolition and reconstruction; and
Finance Committee
September 11, 2014
5.
WHEREAS, the University has reconfirmed its recommendation to
renovate the residence hall complex adding approximately 65 beds in
the process; and
WHEREAS, the University proposes the addition of the McCormick
Road Residence Hall Renovation to the Major Capital Projects Program;
RESOLVED, the Board of Visitors approves the addition of the
McCormick Road Residence Hall Renovation, at an estimated cost between
$85.8 million and $104.7 million, to the University’s Major Capital
Projects Program.
Revision To The Major Capital Projects Program – Gooch Dillard
Residence Hall Renovation And The Outpatient Surgery Center Renovation
The renovation to the Gooch Dillard Residence Hall is to upgrade
bathrooms and make single rooms into doubles, which is what the first
year students prefer. The other project is to convert the outpatient
surgery center into an ambulatory procedure center. It would allow
the Medical Center to take some functions out of the West Complex and
Fontaine buildings. On motion, the resolution was approved.
REVISION TO THE MAJOR CAPITAL PROJECTS PROGRAM – GOOCH DILLARD
RESIDENCE HALL RENOVATION AND THE OUTPATIENT SURGERY CENTER RENOVATION
WHEREAS, the University proposes the addition of the Gooch
Dillard Residence Hall Renovation and the Outpatient Surgery Center
Renovation to the Major Capital Projects Program;
RESOLVED, the Board of Visitors approves the addition to the
University’s Major Capital Projects Program of the Gooch Dillard
Residence Hall Renovation at an estimated cost between $25.0 million
and $32.0 million and the Outpatient Surgery Center Renovation at an
estimated cost between $10 million and $13 million.
Action Item: Addition to the 2014-2015 Annual Renovation and
Infrastructure Plan – Clemons Library
These renovations will allow many advising services to be
together, and the space would be used after hours as general study
space. On motion, the resolution was approved.
ADDITION TO THE 2014-2015 ANNUAL RENOVATION AND INFRASTRUCTURE PLAN—
CLEMONS LIBRARY
RESOLVED, the Board of Visitors approves the addition of the
renovation of the second floor of Clemons Library to the 2014-2015
Annual Renovation and Infrastructure Plan.
Finance Committee
September 11, 2014
6.
Action Item: Property Acquisition in Wise, Virginia
The property in Wise is a gift that would be used for outdoor
classroom space. The committee is asked to approve accepting the
property. On motion, the resolution was approved.
PROPERTY ACQUISITION IN WISE, VIRGINIA (ACCEPTANCE OF GIFT OF STANLEY
WILLIS PROPERTY)
WHEREAS, the University of Virginia’s College at Wise has an
educational need for an outdoor classroom and for opportunities to
conduct research and learning opportunities in a natural setting; and
WHEREAS, Stanley Willis is prepared to subdivide a larger tract
and give to the College at Wise approximately 50 acres for use as an
outdoor classroom; and
WHEREAS, the Board of Visitors finds it to be in the best
interest of the College at Wise to accept this gift of property;
RESOLVED, the Board of Visitors approves the acceptance of a gift
from Mr. Stanley Willis of approximately 50 acres for use as an
outdoor classroom; and
RESOLVED FURTHER, the Executive Vice President and Chief
Operating Officer is authorized, on behalf of the University and the
College at Wise, to modify any conditions associated with the gift as
necessary, to approve and execute agreements and related documents, to
incur reasonable and customary expenses, and to take such other
actions as deemed necessary and appropriate to consummate the transfer
of the property; and
RESOLVED FURTHER, all prior acts performed by the Executive
Vice President and Chief Operating Officer, and other officers and
agents of the University, in connection with this gift of property,
are in all respects approved, ratified, and confirmed.
Action Item: Property Disposition In Culpeper And Rappahannock
Counties, Virginia (Titled In Name Of The Rector And Visitors Of The
University Of Virginia As Trustee For The Deshazo Trust)
This property is part of a trust. Normally, when real property
is a trust asset, the trustee is the UVA Foundation until the property
is sold. In this case, the University is the trustee.
On motion, the resolution was approved.
Finance Committee
September 11, 2014
7.
PROPERTY DISPOSITION IN CULPEPER AND RAPPAHANNOCK COUNTIES, VIRGINIA
(TITLED IN NAME OF THE RECTOR AND VISITORS OF THE UNIVERSITY OF
VIRGINIA AS TRUSTEE FOR THE DESHAZO TRUST)
WHEREAS, The Rector and Visitors of the University of Virginia is
the trustee for The Thomas G. DeShazo and Dorothy H. DeShazo
Charitable Remainder Trust (the DeShazo Trust); and
WHEREAS, in accordance with the trust, the trustee is authorized
to sell any real property held in trust; and
WHEREAS, the Board of Visitors finds it to be in the best
interest of the DeShazo Trust to sell the real property and invest the
proceeds to comply with the terms and conditions of the trust;
RESOLVED, the Board of Visitors approves the sale of the real
property in the DeShazo Trust consisting of approximately 148.29 acres
fronting on Route 615 in Culpeper and Rappahannock Counties, Virginia
to any interested party; and
RESOLVED FURTHER, the Executive Vice President and Chief
Operating Officer is authorized, on behalf of the University, to
approve and execute agreements, deeds, affidavits, and other documents
related to the sale of the subject real estate, to incur reasonable
and customary expenses, and to take such other actions as deemed
necessary and appropriate to consummate the sale of the DeShazo Trust
property; and
RESOLVED FURTHER, all prior acts performed by the Executive Vice
President and Chief Operating Officer, and other officers and agents
of the University, in connection with such sale of the property, are
in all respects approved, ratified, and confirmed.
Action Item: Establishment Of Two Quasi-Endowments: Carol P. Buchanan
Fund And Murray F. Nimmo Fund
Quasi-endowments are endowments created by Board action rather
than by the donors. On motion, the resolution was approved.
ESTABLISHMENT OF TWO QUASI-ENDOWMENTS:
MURRAY F. NIMMO FUND
CAROL P. BUCHANAN FUND AND
WHEREAS, the University of Virginia’s College at Wise has $3
million from the Estate of Carol P. Buchanan, and the University of
Virginia’s Albert and Shirley Small Special Collections Library has $4
million from the Estate of Murray F. Nimmo; and
WHEREAS, the University of Virginia’s College at Wise wishes to
establish a quasi-endowment in the name of the Carol P. Buchanan Fund
to provide funding for needs where funding is non-existent or
inadequate as determined by the Chancellor; and
Finance Committee
September 11, 2014
8.
WHEREAS, the University of Virginia’s Albert and Shirley Small
Special Collections Library wishes to establish a quasi-endowment in
the name of the Murray F. Nimmo Fund for the sole purpose of
purchasing books, manuscripts, or other material that is suitable for
and will become part of the Albert and Shirley Small Special
Collections Library and for the processing, cataloging and/or
preservation of such purchases made with the funds from this quasiendowment; provided, however, that each item purchased with funds from
this quasi-endowment shall be labeled or designated: “Given by Murray
F. Nimmo in memory of Ross Hopkins”;
RESOLVED, the
quasi-endowment in
P. Buchanan, and a
from the estate of
Board of Visitors authorizes the establishment of a
the amount of $3 million from the estate of Carol
quasi-endowment in the initial amount of $4 million
Murray F. Nimmo; and
RESOLVED FURTHER, that any additional funds received from the
estate of Murray F. Nimmo may be added to the aforementioned quasiendowment, without additional approval by the Board of Visitors.
Signatory Authority for Medical Center Procurement of Food and
Nutrition Services
On motion, the committee approved the resolution.
SIGNATORY AUTHORITY FOR MEDICAL CENTER PROCUREMENT OF FOOD AND
NUTRITION SERVICES
RESOLVED, the Board of Visitors authorizes the Executive Vice
President for Health Affairs to execute a multi-year contract for the
procurement of food and nutrition services for the Medical Center,
based on the recommendation of the Chief Executive Officer of the
Medical Center in accordance with Medical Center procurement policy.
Executive Vice President and Chief Operating Officer Reports:
Mr. Hogan asked Ms. Bianchetto to review the unaudited financial
report for the year ending June 30, 2014. The final audit will be
signed off on in mid-October.
Net assets are up over $721 million over last year. This is
primarily related to University of Virginia Investment Management
Company (UVIMCO) returns for the year. Operating revenues are down
about 1% or $7 million. There is a slight increase in state funding,
but driving the decline in operating revenues are grants and
contracts. The activity is down; however, awards are slightly up this
year. Operating expenses are up about 1%, driven by the salary
increase in July and VRS benefits.
There is about $50 million more in net cash basis operating
sources than uses. This is to account for multi-year commitments,
Finance Committee
September 11, 2014
9.
such as start-up packages, lab and other improvements, and utility
infrastructure. About $15 million is related to gifts and expendable
endowment distribution in excess of the amounts anticipated, and the
remainder is in reduced uses in utility costs and other operational
savings.
Ms. Bianchetto said over the next year they will focus on
operationalizing the University financial model, including
implementing recommendations coming out of the Finance subcommittee,
continuing to find operational efficiencies, developing new
philanthropic relationships, and growing and diversifying the research
base.
Ms. Harker said Larry Kochard, CEO of UVIMCO, was available to
answer questions about the written report on UVIMCO performance. Mr.
Kochard said their annual report was at everyone’s seat; it is hot off
the press and summarizes results. He said it looks as though UVIMCO
will be in the top quartile for the prior year.
Mr. Kochard asked
John Macfarlane to speak about the sudden passing of Sherri King, who
managed the fixed income investments and oversaw risk management
strategies at UVIMCO. Mr. Macfarlane said Ms. King was an integral
member of the UVIMCO team. He gave some background on Ms. King, who
was a Charlottesville native and leaves a husband and three children.
He said she was a vibrant and positive individual and she will be
greatly missed.
Mr. Hogan introduced Susan Carkeek, Chief Human Resources
Officer, to present the UVA health plan. Ms. Carkeek said the
University is the only state agency to manage its own health plan.
She explained a couple of graphs, including employee enrollment over
time, which shows growth of the “Value Plan” over the past five years
and a similar diminution of the “Choice Plan”, which is more expensive
for the University. Removing spouses last year who have other health
insurance has saved about $10 million per year, and the dependent
audit has saved about $2 million.
On health plan costs, claims increased about 5% last year, and
she said they predict a 7% increase this year. Premiums will stay
steady this year, but there will be an increase in co-pays and
deductibles, which is similar to a user charge. The contingent
reserve will be used also to cover costs. She said a strategy for the
future is to offer lower co-pays and deductibles for using Health
System providers.
In closing, Ms. Carkeek pointed out that the University’s
premiums are about $1,000 a year lower for employees and $3,000 a year
lower for the University, compared to the Commonwealth health plan.
_ _ _ _ _ _ _ _ _ _
Mr. Hogan asked Mr. James Matteo to say a few words about a
recent Moody’s publication, which compares the University with
Cambridge and Harvard, all Triple A rated institutions. Mr. Matteo
said it was a positive piece that reaffirms the rating.
Finance Committee
September 11, 2014
10.
Mr. Hogan spoke about the academic division contract for dining
services. Following a long process involving a consultant and a
procurement committee, they negotiated a very favorable contract with
Aramark. Aramark will invest more than $20 million in upgrading
certain facilities over the term, and will provide the University with
$70 million up front, which will be earned over the term of the
contract. The income from this fund will help pay for strategic and
other initiatives of importance to students of the University.
Mr. Hogan spoke briefly about the state revenue shortfall. He
said they are working on a plan to find $6.5 million for the academic
division this year and $9 million for next year. The University is
looking at certain areas for these savings, including energy
conservation, strategic sourcing, savings in turnover of employees and
vacancies, reducing service duplication, and closing or reducing the
scope of low priority programs. If the College at Wise moved to the
UVA health plan, this would also save substantial money. He said it
is important to find some permanent savings. He reminded the
committee that US News and World Report ranks the University 59th in
financial resources, but 2nd among public universities overall; this is
an indication that the University is already very efficient. UCBerkeley is ranked 38th and UCLA is ranked 20th in resources.
Mr. Hogan said the state budget reduction situation for the
College at Wise is even more challenging; their revenue base is not as
diversified as the University’s. He said they will look to turnover
and vacancy savings, reducing facilities maintenance and housekeeping
services, and reducing non-personal services costs.
Mr. Hogan said the materials include an update on faculty
salaries; this is the second year with a merit-based increase for
faculty. We have moved in the American Association of Universities
(AAU) rankings to 27th from 34th. By the end of the third year, the
University could be within $100 of the goal of being at the 20th
position in the rankings.
President Sullivan provided some thoughts on the state
reductions. She said she asked the Governor to let the University
decide where and how it will make the cuts. Mr. Atkinson said higher
education was a priority for the legislature and the Governor in the
spring, and so it should be now; it is necessary to bring the message
to state officials of the importance of funding higher education. He
said it is hard to find a precedent where the Governor or the
legislature has cut across the board, and we should try to affect that
process wherever we can.
President Sullivan pointed out a graph on page 3 of the UVIMCO
annual report that shows historical state appropriations and endowment
distribution. By 2011, endowment distributions began to exceed state
funding as a percentage of the academic division operating budget.
-
- - - - - - - - -
Finance Committee
September 11, 2014
The Chair adjourned the Finance Committee meeting at 4:30 p.m.
SGH:dr
These minutes have been posted to the University of Virginia’s Board of
Visitors website: http://www.virginia.edu/bov/financeminutes.html
11.
ATTACHMENTS
Six-Year Plans - Part I (2013): 2014-16 through 2018-20
University of Virginia
ACADEMIC AND FINANCIAL PLAN
Instructions: In the column entitled “Academic and Support Service Strategies for Six-Year Period (2014-2020),” please provide title to identify strategies (for the three biennia of this six-year period) associated with each objective of the “Preparing for the Top Jobs of the 21
Please use this title to identify a more detailed description of the strategy in the separate Word document .
st
Century: The Virginia Higher Education Opportunity Act of 2011.”
ACADEMIC AND SUPPORT SERVICE STRATEGIES FOR SIX-YEAR PERIOD (2014-2020)
Biennium 2014-2016 (7/1/14-6/30/16)
Biennium 2016-2018 (7/1/16-6/30/18)
Biennium 2018-2020 (7/1/18-6/30/20)
Strategies
Strategies
Cost: Incremental, Savings, Reallocation
Priority
Ranking
TJ21
Objectives
Strategies (Short Title)
2014-2015 (Original)
Amount Within Tuition
Increase
Amount
Enrollment Growth
E1, E6
Faculty: Compensation
2
D
Staff: Compensation
3
D
Faculty: Start-Up Packages
4
5
A, E5
Student Success: Total Advising
7
8
9
Research & Economic Development: PanUniversity Research Priorities
E8, E10,
E11, E13
Research & Economic Development: Medical
Translational Research
E8
Research & Economic Development: Innovation
Ecosystem
E8, E12
Quality Enhancement: Self-Supporting Programs
10
E13
Student Success: Student-Faculty Engagement
11
12
13
D
Student Success: Technology-Enhanced
Instruction
E1, E2, E3,
E4, E6, E7,
E10, E13
Efficiency and Continuous Improvement
14
15
16
$10,142,560
$8,553,815
$7,009,768
$16,705,560
$12,780,192
Savings:
$0
$0
$0
$0
$0
$0
$0
$0
Reallocation:
$0
$0
$0
$0
$0
$0
$0
$0
Incremental:
$12,234,000
$5,188,000
$25,218,000
$10,622,000
$8,948,130
$2,932,810
$27,269,426
Savings:
$0
$0
$0
$0
$0
$0
$0
$3,466,000
$0
$6,932,000
$0
$3,466,000
$0
$5,766,516
Incremental:
$9,117,000
$3,915,000
$18,294,000
$7,948,000
$7,621,123
$3,264,600
$15,437,989
$0
$0
$0
$0
$0
$0
$0
$0
Reallocation:
$0
$0
$0
$0
$0
$0
$0
$0
Incremental:
$7,000,000
$0
$14,000,000
$0
$0
$0
$7,000,000
Savings:
B, E9, E12
Research & Economic Development: Southwest
Virginia Economic Development Partnership
(Appalachian Prosperity Project)
Student Success: Serving Virginia’s Veterans and
Military through Collaboration
E13
Complete Board approved enrollment growth in 2018-19.
Maintain competitive faculty compensation
$0
$6,627,138 Staff: Compensation
$0 Faculty: Start-Up Packages
Staff: Compensation
Faculty: Start-Up Packages
$0
$0
$0
$0
$0
$0
$0
Reallocation:
$9,698,076
$0
$22,538,130
$0
$6,132,919
$0
$17,260,000
Incremental:
see below
see below
see below
see below
see below
see below
see below
Savings:
$0
$0
$0
$0
$0
$0
$0
Reallocation:
$0
$0
$0
$0
$0
$0
$0
Incremental:
$0
$0
$0
$0
$1,600,000
$0
$1,720,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$80,000
$0
Incremental:
$0
$0
$0
$0
$500,000
$0
$4,830,000
Savings:
$0
$0
$0
$0
$0
$0
$0
$0 Research & Economic Development: Pan-University Research Research & Economic Development: Pan-University Research
Priorities
Priorities
$0
Reallocation:
$0
$0
$0
$0
$0
$0
$0
$0
Incremental:
$4,000,000
$0
$4,000,000
$0
$0
$0
$4,000,000
$0
$0
$0
$0
$0
$0
$0
$0 Research & Economic Development: Medical Translational
Research
$0
Reallocation:
$0
$0
$0
$0
$0
$0
$0
$0
Incremental:
$8,000,000
$0
$8,000,000
$0
$0
$0
$8,000,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
Savings:
Savings:
$0
$0
see below Affordable Access: Undergraduate Student Financial Aid
(AccessUVa)
$0
$0 Student Success: Total Advising
$0 Research & Economic Development: Innovation Ecosystem
$0
$0
$0
$0
$3,000,000
$0
$2,500,000
Incremental:
$704,166
$704,166
$358,116
$358,116
$1,694,470
$0
$2,144,151
Savings:
$0
$0
$0
$0
$0
$0
$0
$0
Reallocation:
$0
$0
$0
$0
$0
$0
$0
$0
Incremental:
$0
$0
$0
$0
$250,000
$0
$910,000
Savings:
$0
$0
$0
$0
$0
$0
$0
$0
Reallocation:
$0
$0
$0
$0
$0
$0
$380,000
$0
Incremental:
$0
$0
$0
$0
$0
$0
$1,000,000
$0
$0
$0
$0
$0
$0
$0
Reallocation:
$0
$0
$0
$0
$0
$0
$0
Incremental:
$129,323
$129,323
$240,243
$240,243
$148,826
$71,250
$213,511
Savings:
$0 Quality Enhancement: Self-Supporting Programs
$0 Student Success: Student-Faculty Engagement
$0 Student Success: Technology-Enhanced Instruction
Research & Economic Development: Medical Translational
Research
Research & Economic Development: Innovation Ecosystem
Quality Enhancement: Self-Supporting Programs
Student Success: Student-Faculty Engagement
Student Success: Technology-Enhanced Instruction
$0
$135,935 Institutional Collaboration: The Virginia Community College
System (VCCS)
$0
$0
$0
$0
$0
$0
$0
$0
$42,977
$42,977
$42,977
$42,977
$77,576
$0
$77,576
Incremental:
$0
$0
$0
$0
$0
$0
$0
-$8,818,845
$0
-$17,637,689
$0
-$10,300,892
$0
-$17,637,689
$0
Reallocation:
$0
$0
$0
$0
$0
$0
$0
$0
Incremental:
$0
$0
$0
$0
$0
$0
$0
Institutional Collaboration: The Virginia Community College
System (VCCS)
$0
$0 Efficiency and Continuous Improvement
Savings:
$0
$0
$0
$0
$0
$0
$0
$0 Research & Economic Development: Southwest Virginia
Economic Development Partnership (Appalachian Prosperity
$0 Project)
Reallocation:
$0
$0
$0
$0
$0
$0
$0
$0
Incremental:
$0
$0
$0
$0
$0
$0
$175,000
$0
$0
$0
$0
$0
$0
$0
$0 Student Success: Serving Virginia’s Veterans and Military
through Collaboration
$0
$0
$0
$0
$0
$0
$0
$0
$0
$46,341,089
$14,666,089
$82,328,918
$29,310,919
$29,316,364
$13,278,428
$89,405,637
$25,548,193
-$8,818,845
$0
-$17,637,689
$0
-$10,300,892
$0
-$17,637,689
$0
$13,207,053
$42,977
$29,513,107
$42,977
$12,676,495
$0
$26,064,092
$0
E1, E2, E3,
E6, E7, E10, Savings:
E13
Reallocation:
Student Success: Total Advising
$0
Reallocation:
Savings:
Affordable Access: Undergraduate Student Financial Aid
(AccessUVa)
$0
Reallocation:
Total 2014-2016 Costs
Incremental (Included in Financial Plan
line 61)
Savings
Reallocation
Continue Board approved enrollment growth plan.
$6,004,928 Continue Board approved faculty compensation plan.
Measure salary averages by rank against 20th rank among
$0 AAU institutions and adjust plan accordingly.
Reallocation:
C, E1, E6, E10 Savings:
Institutional Collaboration: The Virginia Community
College System (VCCS)
Amount Within Tuition
Increase
Amount
$12,218,560
D, E3, E5, E6,
Savings:
E8, E10, E12
Reallocation:
6
Amount Within Tuition
Increase
Amount
$4,729,600
D, E1, E6, E8 Savings:
Affordable Access: Undergraduate Student
Financial Aid (AccessUVa)
Amount Within Tuition
Increase
Amount
2015-2016 (Revised)
$5,156,600
Incremental:
1
2014-2015 (Revised)
2015-2016 (Original)
Efficiency and Continuous Improvement
Research & Economic Development: Southwest Virginia
Economic Development Partnership (Appalachian Prosperity
Project)
Student Success: Serving Virginia’s Veterans and Military
through Collaboration
Six-Year Financial Plan for Educational and General Programs, Incremental Operating Budget Need
2014-2016 Biennium
(Assuming No Additional General Fund)
2014-2015
3
Total Incremental Cost from Academic Plan
Increase Faculty Salaries
2
Faculty Salary Increase Rate4
Increase Staff Salaries2
Staff Salary Increase Rate (for University Staff)
Increase Number of Full-Time Faculty3 ($)
Increase Number of Full-Time Faculty3 (FTE)
Increase Number of Part-Time Faculty3 ($)
Increase Number of Part-Time Faculty3 (FTE)
Increase Number of Support Staff ($)
Increase Number of Support Staff (FTE)
Library Enhancement ($)
Library Enhancement (FTE)
Technology Enhancement ($)
Technology Enhancement (FTE)
O&M for New Facilities ($)
O&M for New Facilities (FTE)
Utility Cost Increase
NGF share of state authorized salary increase/bonus
Fringe/health insurance benefits increase
VRS increase
Additional In-State Student Financial Aid From Tuition Revenue - UGrad + Grad
$46,341,089
2014-2015 (Revised)
2015-2016
Amount Within Tuition
Increase
Amount
Items
$14,666,089
Amount Within Tuition
Increase
Amount
$82,328,918
$29,310,919
2015-2016 (Revised)
Amount Within Tuition
Increase
Amount
$29,316,364
Amount Within Tuition
Increase
Amount
$13,278,428
$89,405,637
$25,548,193
$0
$0
$0
$0
$0
$0
$0
$0
4.75%
4.75%
4.75%
4.75%
4.75%
4.75%
4.75%
4.75%
$0
$0
$0
$0
$0
$0
$0
$0
3.00%
3.00%
3.00%
3.00%
3.00%
3.00%
3.00%
3.00%
$0
$0
$0
$0
$0
$0
$0
$0
16.00
0.00
33.00
0.00
24.00
0.00
41.00
0.00
$0
$0
$0
$0
$0
$0
$0
$0
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
$0
$0
$0
$0
$0
$0
$0
$0
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
$875,000
$875,000
$1,750,000
$1,750,000
$1,200,000
$0
$900,000
$0
2.00
2.00
4.00
4.00
2.00
0.00
2.00
0.00
$900,000
$900,000
$1,200,000
$1,200,000
$1,150,000
$0
$600,000
$0
4.00
4.00
4.00
4.00
4.00
0.00
4.00
0.00
$2,927,100
$2,055,600
$3,016,900
$2,113,300
$2,837,100
$1,522,900
$3,359,900
$1,321,522
11.90
8.90
11.90
8.90
0.00
0.00
0.00
0.00
$1,142,000
$1,142,000
$2,318,000
$2,318,000
$115,000
$115,000
$959,000
$959,000
$0
$0
$0
$0
$0
$0
$0
$0
$13,873,000
$5,270,793
$19,150,000
$7,323,421
$9,849,333
$3,272,982
$14,692,051
$4,488,747
$3,300,000
$1,253,775
$3,300,000
$1,262,000
$9,400,000
$3,123,666
$1,000,000
$305,522
$751,000
$751,000
$2,216,000
$2,216,000
$3,049,912
$3,049,912
$2,800,000
$2,800,000
$1,865,000
$1,865,000
$4,853,000
$4,853,000
$3,063,330
$3,063,330
$4,100,000
$4,100,000
$100,000
$100,000
$200,000
$200,000
$100,000
$100,000
$200,000
$1,500,000
$1,500,000
$3,000,000
$73,574,189
$30,379,256
$123,332,818
Others (Specify, insert lines below)
Additional Out-of-State Student Financial Aid From Tuition Revenue - UGrad +
Grad
Unavoidable contractual costs
Deferred Maintenance
Total Additional Funding Need
Notes:
(1) Enter staff FTE change over the FY2014 level in appropriate columns.
(2) If planned, enter the cost of any institution-wide increase.
(3) Please ensure that these items shall not be double counted if they are already included in the incremental cost of the
academic plan.
(4) Enter planned annual faculty salary increase rate in Cells F63, G63, H63, and I63. Any salary increase entered here will be cou
when calculating the gap to reach the 60th percentile in the future.
$3,000,000 $
$55,546,640
$60,081,039
$
$27,526,218
$
1,500,000
$119,516,588
$200,000
$
1,500,000
$41,222,984
Six-Year Plans - Part I (2013): 2014-16 through 2018-20
University of Virginia
Six-Year Financial Plan for Tuition and Fee Increases and Nongeneral Fund Revenue Estimates
Items
2012-2013 (Actual)
Student
Total
Charge
Revenue
E&G Programs
Undergraduate, In-State *
$10,066
Undergraduate, Out-of-State *
$36,078
Graduate, In-State
$13,722
Graduate, Out-of-State
$23,728
Law, In-State
$44,420
Law, Out-of-State
$49,420
Medicine, In-State
$41,226
Medicine, Out-of-State
$51,330
Dentistry, In-State
$0
Dentistry, Out-of-State
$0
PharmD, In-State
$0
PharmD, Out-of-State
$0
Veterinary Medicine, In-State
$0
Veterinary Medicine, Out-of-State
$0
Other NGF
Total E&G Revenue - Gross
Total E&G Revenue - Net of Financial Aid
Auxiliary Program
Mandatory Non-E&G Fees
Undergraduate
$1,940
Graduate
$1,940
Law
$1,980
Medicine
$1,992
Dentistry
$0
PharmD
$0
Veterinary Medicine
$0
Total Auxiliary Revenue (ALL including room and board)
Total Tuition and Fees
Undergraduate, In-State
$12,006
Undergraduate, Out-of-State
$38,018
Graduate, In-State
$15,662
Graduate, Out-of-State
$25,668
Law, In-State
$46,400
Law, Out-of-State
$51,400
Medicine, In-State
$43,218
Medicine, Out-of-State
$53,322
Dentistry, In-State
$0
Dentistry, Out-of-State
$0
PharmD, In-State
$0
PharmD, Out-of-State
$0
Veterinary Medicine, In-State
$0
Veterinary Medicine, Out-of-State
$0
Student Financial Aid (Program 108)
Sponsored Programs (Program 110)
Unique Military Activities
Workforce Development
Other (Specify)
$110,045,000
$167,775,000
$34,874,000
$62,792,000
$14,980,000
$38,623,000
$13,747,000
$13,836,000
$0
$0
$0
$0
$0
$0
$34,296,000
$490,968,000
$428,822,000
2013-2014 (Estimated)
Student
Rate
Total
Charge
Increase
Revenue
$10,460
$37,846
$14,262
$24,268
$45,862
$50,862
$42,776
$53,238
$0
$0
$0
$0
$0
$0
$1,998
$1,998
$2,038
$2,050
$0
$0
$0
3.9% $118,324,000
4.9% $176,274,000
3.9% $35,941,000
2.3% $70,482,000
3.2% $14,882,000
2.9% $39,568,000
3.8% $13,671,000
3.7% $16,365,000
%
$0
%
$0
%
$0
%
$0
%
$0
%
$0
$34,428,000
$519,935,000
$455,150,000
3.0%
3.0%
2.9%
2.9%
%
%
%
$192,057,000
$10,931
$39,549
$14,902
$24,904
$47,656
$52,656
$43,627
$54,292
$0
$0
$0
$0
$0
$0
$2,041
$2,041
$2,081
$2,093
$0
$0
$0
4.5% $127,300,000
4.5% $185,577,000
4.5% $37,301,000
2.6% $72,454,000
3.9% $15,473,000
3.5% $40,965,000
2.0% $14,012,000
2.0% $16,748,000
%
$0
%
$0
%
$0
%
$0
%
$0
%
$0
$34,671,000
$544,501,000
$475,125,000
2.2%
2.2%
2.1%
2.1%
%
%
%
$200,415,000
$12,458
$39,844
$16,260
$26,266
$47,900
$52,900
$44,826
$55,288
$0
$0
$0
$0
$0
$0
$62,146,000
$286,409,000
$0
$0
$0
Revised
2014-2015 (Planned)
Student
Rate
Total
Charge
Increase
Revenue
3.8%
4.8%
3.8%
2.3%
3.2%
2.9%
3.7%
3.7%
%
%
%
%
%
%
$11,423
$41,329
$15,571
$25,557
$49,511
$54,511
$44,495
$55,366
$0
$0
$0
$0
$0
$0
$2,069
$2,069
$2,109
$2,121
$0
$0
$0
4.1%
4.4%
4.2%
2.6%
3.8%
3.5%
2.0%
2.0%
%
%
%
%
%
%
1.4%
1.4%
1.3%
1.3%
%
%
%
$69,376,000
$274,959,000
$0
$0
$0
* THE FINANCIAL PLAN IS BUILT ON PRELIMINARY GUIDANCE FROM THE FINANCE COMMITTEE OF THE BOARD OF VISITORS FOR FY16
UNDERGRADUATE TUITION INCREASES THAT WILL FALL WITHIN THE RANGE OF 3.5% TO 4.5%. THE BOARD HAS A SUBCOMMITTEE OF THE FINANCE
COMMITTEE WORKING ON A SUSTAINABLE FINANCIAL MODEL FOR THE UNIVERSITY THAT WILL PROMOTE AFFORDABLE EXCELLENCE.
2014-2015 (Estimate)
Student
Rate
Total
Charge
Increase
Revenue
$10,932
$40,118
$14,612
$24,852
$49,694
$52,694
$43,416
$54,024
$0
$0
$0
$0
$0
$0
$2,066
$2,066
$2,106
$2,118
$0
$0
$0
$210,556,000
$13,492
$43,398
$17,640
$27,626
$51,620
$56,620
$46,616
$57,487
$0
$0
$0
$0
$0
$0
2013-14 (Est.)
Total
Revenue
4.5% $137,071,000 $115,574,000
4.5% $195,469,000 $179,133,000
4.5% $38,714,000 $34,116,000
2.6% $74,484,000 $71,638,000
3.9% $16,087,000 $15,839,000
3.5% $42,411,000 $38,587,000
2.0% $14,337,000 $14,418,000
2.0% $17,119,000 $15,329,000
%
$0
$0
%
$0
$0
%
$0
$0
%
$0
$0
%
$0
$0
%
$0
$0
$34,922,000 $35,312,000
$570,614,000 $519,946,000
$496,666,000 $443,959,242
$206,427,000
$12,972
$41,590
$16,943
$26,945
$49,737
$54,737
$45,720
$56,385
$0
$0
$0
$0
$0
$0
$64,785,000
$277,578,000
$0
$0
$0
2015-2016 (Planned)
Student
Rate
Total
Charge
Increase
Revenue
4.5% $130,056,000
6.0% $194,992,000
2.5% $38,240,000
2.4% $75,502,000
8.4% $14,078,000
3.6% $39,517,000
1.5% $13,950,000
1.5% $16,633,000
%
$0
%
$0
%
$0
%
$0
%
$0
%
$0
$34,932,000
$557,900,000
$475,800,000
3.4%
3.4%
3.3%
3.3%
%
%
%
$0
4.0%
4.3%
4.1%
2.5%
3.8%
3.4%
2.0%
2.0%
%
%
%
%
%
%
$11,424
$41,924
$15,268
$25,504
$51,628
$54,550
$44,280
$55,093
$0
$0
$0
$0
$0
$0
$2,097
$2,097
$2,138
$2,150
$0
$0
$0
4.5% $137,001,212
4.5% $204,310,255
4.5% $39,745,000
2.6% $76,906,000
3.9% $14,650,000
3.5% $41,081,000
2.0% $13,943,000
2.0% $16,996,000
%
$0
%
$0
%
$0
%
$0
%
$0
%
$0
$35,630,640
$580,263,107
$491,263,107
1.5%
1.5%
1.5%
1.5%
%
%
%
$0
$12,998
$42,184
$16,678
$26,918
$51,800
$54,800
$45,534
$56,142
$0
$0
$0
$0
$0
$0
$73,948,000 $75,986,758
$276,826,000 $270,583,286
$0
$0
$0
$0
$0
$0
2015-2016 (Planned)
Student
Rate
Total
Charge Increase
Revenue
4.3%
5.9%
2.6%
2.5%
8.1%
3.6%
1.6%
1.5%
%
%
%
%
%
%
$0
$13,521
$44,021
$17,365
$27,601
$53,766
$56,688
$46,430
$57,242
$0
$0
$0
$0
$0
$0
$82,100,000
$276,512,000
$0
$0
$0
4.0%
4.4%
4.1%
2.5%
3.8%
3.4%
2.0%
2.0%
%
%
%
%
%
%
$89,000,000
$278,104,000
$0
$0
$0
Six-Year Plans - Part I (2013): 2014-16 through 2018-20
University of Virginia
FINANCIAL AID PLAN
Note: If you do not have actual amounts for Tuition Revenue for Financial Aid by student category, please
provide an estimate. If values are not distributed for Tuition Revenue for Financial Aid , a distribution may be
calculated for your institution.
Allocation of Tuition Revenue Used for Student Financial Aid
2012-13 (Estimated)
T&F Used for Financial Aid
Undergraduate, In-State
Undergraduate, Out-of-State
Graduate, In-State
Graduate, Out-of-State
First Professional, In-State
First Professional, Out-of-State
Total
Total from Finance-T&F worksheet
In-State Sub-Total
Gross Tuition
Revenue
Tuition Revenue
for Financial Aid
(Program 108)
$110,045,000
$167,775,000
$34,874,000
$62,792,000
$28,727,000
$52,459,000
$456,672,000
$490,968,000
$173,646,000
$16,932,000
$23,231,000
$6,003,000
$24,909,000
$2,312,000
$6,931,000
$80,318,000
$62,146,000
$25,247,000
% Revenue for
Financial Aid
15.4%
13.8%
17.2%
39.7%
8.0%
13.2%
17.6%
12.7%
14.5%
Distribution of
Financial Aid
$16,932,000
$23,231,000
$6,003,000
$24,909,000
$2,312,000
$6,931,000
$80,318,000
See Note A
See Note A
See Note B
See Note B
See Note B
See Note B
$25,247,000
2013-14 (Planned)
T&F Used for Financial Aid
Undergraduate, In-State
Undergraduate, Out-of-State
Graduate, In-State
Graduate, Out-of-State
First Professional, In-State
First Professional, Out-of-State
Total
Total from Finance-T&F worksheet
In-State Sub-Total
Additional In-State
Gross Tuition
Revenue
$118,324,000
$176,274,000
$35,941,000
$70,482,000
$28,553,000
$55,933,000
$485,507,000
$519,935,000
$182,818,000
$9,172,000
Tuition Revenue
for Financial Aid
(Program 108)
$17,800,000
$24,900,000
$6,239,000
$25,476,000
$2,393,000
$7,161,000
$83,969,000
$64,785,000
$26,432,000
$1,185,000
% Revenue for
Financial Aid
15.0%
14.1%
17.4%
36.1%
8.4%
12.8%
17.3%
12.5%
14.5%
12.9%
Distribution of
Financial Aid
$17,800,000
$24,900,000
$6,239,000
$25,476,000
$2,393,000
$7,161,000
$83,969,000
$26,432,000
$1,185,000
Gross Tuition
Revenue
$115,574,000
$179,133,000
$34,116,000
$71,638,000
$30,257,000
$53,916,000
$484,634,000
$519,946,000
$179,947,000
$6,301,000
2013-14 Actual (Revised)
Tuition
% Revenue
Revenue for
Distribution of
for Financial
Financial Aid
Financial Aid
Aid
(Program 108)
12.8%
$14,815,422
$14,815,422
$19,536,042
10.9%
$19,536,042
16.0%
$5,470,441
$5,470,441
$26,725,736
37.3%
$26,725,736
7.8%
$2,364,225
$2,364,225
$7,074,892
$7,074,892
13.1%
15.7%
$75,986,758
$75,986,758
14.6%
$75,986,758
12.6%
$22,650,088
$22,650,088
-41.2%
-$2,596,912
$22,650,088
See Note A, Note C
See Note A, Note C
See Note B
See Note B
See Note B
See Note B
See Note C
2014-15 (Planned)
T&F Used for Financial Aid
Undergraduate, In-State
Undergraduate, Out-of-State
Graduate, In-State
Graduate, Out-of-State
First Professional, In-State
First Professional, Out-of-State
Total
Total from Finance-T&F worksheet
In-State Sub-Total
Additional In-State
Additional In-State from Financial Plan
Gross Tuition
Revenue
Tuition Revenue
for Financial Aid
(Program 108)
$127,300,000
$185,577,000
$37,301,000
$72,454,000
$29,485,000
$57,713,000
$509,830,000
$544,501,000
$194,086,000
$11,268,000
$18,200,000
$25,900,000
$6,519,000
$26,144,000
$2,464,000
$7,358,000
$86,585,000
$69,376,000
$27,183,000
$751,000
$751,000
% Revenue for
Financial Aid
14.3%
14.0%
17.5%
36.1%
8.4%
12.7%
17.0%
12.7%
14.0%
6.7%
#DIV/0!
Distribution of
Financial Aid
$18,200,000
$25,900,000
$6,519,000
$26,144,000
$2,464,000
$7,358,000
$86,585,000
$27,183,000
$751,000
Gross Tuition
Revenue
$130,056,000
$194,992,000
$38,240,000
$75,502,000
$28,028,000
$56,150,000
$522,968,000
$557,900,000
$196,324,000
$16,377,000
2015-16 (Planned)
T&F Used for Financial Aid
Undergraduate, In-State
Undergraduate, Out-of-State
Graduate, In-State
Graduate, Out-of-State
First Professional, In-State
First Professional, Out-of-State
Total
Total from Finance-T&F worksheet
In-State Sub-Total
Additional In-State
Additional In-State from Financial Plan
Gross Tuition
Revenue
$137,071,000
$195,469,000
$38,714,000
$74,484,000
$30,424,000
$59,530,000
$535,692,000
$570,614,000
$206,209,000
$12,123,000
Tuition Revenue
for Financial Aid
(Program 108)
$19,300,000
$28,000,000
$6,812,000
$26,830,000
$2,536,000
$7,560,000
$91,038,000
$73,948,000
$28,648,000
$1,465,000
$2,216,000
% Revenue for
Financial Aid
14.1%
14.3%
17.6%
36.0%
8.3%
12.7%
17.0%
13.0%
13.9%
12.1%
#DIV/0!
Distribution of
Financial Aid
$19,300,000
$28,000,000
$6,812,000
$26,830,000
$2,536,000
$7,560,000
$91,038,000
$28,648,000
$1,465,000
Gross Tuition
Revenue
$137,001,212
$204,310,255
$39,745,000
$76,906,000
$28,593,000
$58,077,000
$544,632,467
$580,263,107
$205,339,212
$9,015,212
2014-15 Estimate (Revised)
Tuition
% Revenue
Revenue for
Distribution of
for Financial
Financial Aid
Financial Aid
Aid
(Program 108)
$18,500,000
14.2%
$18,500,000
$24,500,000
12.6%
$24,500,000
$5,400,000
14.1%
$5,400,000
$26,500,000
35.1%
$26,500,000
$1,800,000
6.4%
$1,800,000
$5,400,000
$5,400,000
9.6%
15.7%
$82,100,000
$82,100,000
14.7%
$82,100,000
13.1%
$25,700,000
$25,700,000
18.6%
$3,049,912
$3,049,912
$3,049,912
See Note A, Note C
See Note A, Note C
See Note B
See Note B
See Note B
See Note B
2015-16 Planned (Revised)
Tuition
% Revenue
Revenue for
Distribution of
for Financial
Financial Aid
Financial Aid
Aid
(Program 108)
15.4%
$21,100,000
$21,100,000
$27,900,000
13.7%
$27,900,000
14.1%
$5,600,000
$5,600,000
35.1%
$27,000,000
$27,000,000
6.3%
$1,800,000
$1,800,000
$5,600,000
$5,600,000
9.6%
16.3%
$89,000,000
$89,000,000
15.3%
$89,000,000
13.9%
$28,500,000
$28,500,000
31.1%
$2,800,000
$2,800,000
$2,800,000
See Note A, Note C
See Note A, Note C
See Note B
See Note B
See Note B
See Note B
Note A: Tuition revenue is used for financial aid; however, the University does not separately track a tuition dollar paid to where it is expended. All undergraduate tuition revenues are collected into a 0300 revenue project, then
the amount required for financial aid is transferred to program 108. The University is committed to the principle that in-state undergraduates will pay for in-state undergraduate financial aid, while out-of-state undergraduates will
pay for out-of-state undergraduate financial aid.
Note B: The University does not separately track a tuition dollar paid to where it is expended. In addition, financial aid for graduate students is not awarded strictly on the basis of need (although most all graduate students are
needy since they are normally independent students), but rather it is packaged so as to attract the very best students. Graduate teaching assistants (GTA) and graduate research assistants (GRA) who perform work for the
University receive financial support from tuition. For GTAs (regardless of residency), financial aid from tuition covers 100% of the cost of in-state tuition and fees. For GRAs (regardless of residency), the underlying grant covers
100% of the cost of in-state tuition and fees. For all out-of-state GTAs and GRAs, financial aid from tuition covers the differential between in-state T&F and out-of-state T&F. Gross tuition revenue from graduate students is
distorted by the inclusion of Graduate Business (Darden) and graduate programs in the McIntire School of Commerce, which are high tuition programs with virtually no tuition-funded financial aid.
Note C: The actual allocation of financial aid to in-state and out-of-state undergraduates from tuition is dependent on other sources available for undergraduate financial aid. Total financial aid allocated to undergraduates
through AccessUVa did NOT decline, just the portion that was required to be funded from tuition revenues. We maximize all other sources of funding for our comprehensive financial aid plan first, then fill any remaining gap to
meet 100% of need from tuition. Therefore, depending on the availability of other sources, the amount from tuition may vary. Traditionally we have more "other" sources available for in-state.
PART II
University of Virginia
A. Institutional Mission
The University of Virginia’s mission is reflected in its Mission Statement. As part of its ongoing strategic
planning process, the University revised its mission statement in 2013. SCHEV approved the mission
statement on January 24, 2014, to be effective 30 days following adjournment of the 2014 General
Assembly.
Purpose
The University of Virginia is a public institution of higher learning guided by a founding vision of
discovery, innovation, and development of the full potential of talented students from all walks of life. It
serves the Commonwealth of Virginia, the nation, and the world by developing responsible citizen
leaders and professionals; advancing, preserving, and disseminating knowledge; and providing worldclass patient care.
We are defined by:
•
•
•
Our enduring commitment to a vibrant and unique residential learning environment marked by
the free and collegial exchange of ideas;
Our unwavering support of a collaborative, diverse community bound together by distinctive
foundational values of honor, integrity, trust, and respect;
Our universal dedication to excellence and affordable access.
B. Strategies
The University of Virginia undertook a strategic planning process, and submitted a final strategic plan to
the Board of Visitors in November 2013. The Board of Visitors approved the five “Pillars” of the
Cornerstone Plan which will serve as University goals. The five pillars and a description of each are
included below, followed by descriptions of Six-Year Plan strategies.
While many Six-Year Plan strategies are not explicitly included in the Cornerstone Plan – which, by
nature, will encompass a broader view of the University – the strategies include representative
initiatives of the University that further the goals of the Higher Education Opportunity Act (HEOA) and
the pillars of the Cornerstone Plan.
CORNERSTONE PLAN
Pillar #1 – Extend and Strengthen the University’s Distinctive Residential Culture
The University will target for investment programs that reinforce its cohesive yet increasingly diverse
academic community, encourage frequent faculty-student interactions, promote student selfgovernance, and emphasize leadership, student research, experiential learning, and public service. It
also will concentrate on areas such as advising that fall short of student expectations and support a
virtual residential experience that includes non-traditional adult students and alumni.
Pillar #2 – Strengthen the University’s Capacity to Advance Knowledge and Serve the Commonwealth
of Virginia, the Nation, and the World through Research, Scholarship, Creative Arts, and Innovation
The University will identify areas where its strengths intersect with new disciplines and technologies.
This is essential in an age where solving the great challenges requires multiple perspectives. An
important priority will be to leverage current talent and new faculty hiring opportunities to focus
research strategically and build interdisciplinary scholarship and research that will contribute to the
important issues facing the Commonwealth, the nation, and the world. The University will create highpotential cross-Grounds initiatives in areas of critical intellectual significance, particularly where they
overlap with the needs of the Commonwealth; engage corporate, government, and academic partners
in these efforts; and develop a new process for periodic sunset review of all centers, institutes, and
other units.
Pillar #3 – Provide Educational Experiences that Deliver New Levels of Student Engagement
The University will enhance a broad range of high-impact educational experiences that encourage
students to internalize knowledge and make it their own. This may include conducting meaningful
research with faculty members, service learning, entrepreneurial experiences, internships, and learning
to see the world through a global lens.
Pillar #4 — Assemble and Support a Distinguishing Faculty
A high-quality faculty characterizes dynamic institutions and is essential to the missions of teaching,
research, patient care, and public service. It is the starting point for a virtuous cycle, fueled by
innovation, that leads to better undergraduate and graduate students, increased research funding, and
more engaged and committed alumni. Accordingly, the generational turnover in faculty, while providing
University of Virginia
August 4, 2014
2
a remarkable opportunity to remake the University, must be managed with utmost care. The strategic
plan will provide a framework for assembling a distinctive faculty best suited to fulfill the University’s
aspirations as a collegiate research university and equipped to use its scale for advantage. This is a
faculty that welcomes collaboration and that combines a commitment to innovation in education with
intellectual leadership.
Pillar #5 – Steward the University’s Resources to Promote Academic Excellence and Affordable Access
The first four pillars of this plan take as their starting point the University’s advantages as a collegiate
research university and build on them to further enrich the residential student experience and support
faculty excellence. This last pillar of the plan is devoted to financial and organizational strategies
required to achieve these goals. In the process, it will demonstrate that academic excellence and
affordable access are not only compatible, but also complementary. The University will achieve its goals
of academic excellence and affordable access by promoting a culture of excellence and maintaining an
intense focus on wise stewardship of all its resources (human, financial, facilities, technology, etc.)
SIX-YEAR PLAN STRATEGIES
Priority 1 – Enrollment Growth
To increase enrollment of Virginia students, implement BOV-approved plan for enrollment growth with
approximately 33 to 40 percent of growth targeted in STEM-H disciplines. Undergraduate on-Grounds
enrollment growth targets are 256 in 2014-15 (over 2013-14) and 280 in 2015-16 (over 2014-15) for a
total growth of 586 students over the 2014-16 biennium. Based on acceptances received to date, the
projected on-Grounds enrollment growth in 2014-15 will be 376 (over 2013-14), exceeding the target by
120. The University’s current undergraduate enrollment growth plan extends to 2018-19. For 2014-16,
the on-Grounds graduate and professional enrollment growth is estimated to be 199 students.
Note: The University's enrollment growth plan is contingent upon receiving the appropriate state share
of funding per Virginia student.
TJ21 OBJECTIVES: E1, E6
PILLARS: 1
Priority 2 – Faculty: Compensation
To increase quality and enhance recruitment and retention, implement BOV’s four-year plan to address
the competitiveness of faculty salaries. The University, along with other institutions of higher learning,
faces a dramatic generational turnover in faculty during the coming decade. To approach the
generational turnover from a position of strength, the University will improve the average faculty salary
at each rank to the 20th position of its Association of American Universities (AAU) peers. Assuming that
these peers will raise their average faculty salary by three percent each year, the University projects that
it can attain the 20th rank with annual merit-based increases for continuing faculty of 4.75 percent.
TJ21 OBJECTIVES: D
PILLARS: 4
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August 4, 2014
3
Priority 3 – Staff: Compensation
To increase quality and enhance recruitment and retention, improve compensation for University and
classified staff. The long-term plan is to move to competitive ranges for all University staff. Total
incremental costs assume no state-authorized salary increase for classified staff since instructions direct
institutions to assume no incremental general funds. A three percent BOV-authorized merit increase for
University staff and administrative/professional faculty is included in the budget for the two-year
period.
TJ21 OBJECTIVES: D
PILLARS: 5
Priority 4 – Faculty: Start-Up Packages
To increase degree production in STEM-H disciplines, implement plan to provide sufficient start-up
packages and space to accommodate new STEM-H faculty associated with enrollment growth and
retirement turnover.
At a research university like U.Va., the costs associated with the recruitment of STEM-H faculty go
beyond salary and fringe benefits. Such faculty require start-up packages which support the renovation
of laboratories, purchase of equipment, hiring of research staff, and training of graduate students,
among others, while the research program is being established. It is the expectation that, within a few
years, extramural funding will provide support for ongoing costs. Start-up packages do not include base
salary support or signing bonuses for faculty.
TJ21 OBJECTIVES: D, E1, E6, E8
PILLARS: 4
Priority 5 – Affordable Access: Undergraduate Student Financial Aid (AccessUVa)
The University of Virginia’s Board of Visitors authorized AccessUVa in February 2004 to ensure that an
undergraduate education at the University would be available to all students regardless of their financial
circumstances. The program has been successful in increasing socioeconomic diversity, reducing
student loan debt and meeting 100 percent of need for all of the University’s undergraduate students.
This program continues to bring the University significant recognition as the premier need-based aid
program for a public institution in the United States.
The University engaged an external consultant in 2012 to review the current AccessUVa program to help
us focus on long-term financial sustainability. As a result of this study, in August 2013 the University
affirmed the foundational tenets of AccessUVa – offering 100% of financial need to all undergraduates
through need-blind admissions; made administrative changes; and, after considering several options,
capped need-based loans for low-income in-state students at $3,500 annually and for low-income outof-state students at $7,000 annually. The need-based loan cap for all other students with need is $7,000
annually.
Section C includes additional information on the structure of AccessUVa and how aid is distributed to
families of different income levels.
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August 4, 2014
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Note: Incremental costs for in-state students are included in the “Additional In-State Student Financial
Aid From Tuition Revenue - UGrad and Grad” line item in the “Academic and Financial Plan.” Incremental
costs for out-of-state students are included in the “Additional Out-of-State Student Financial Aid From
Tuition Revenue - UGrad and Grad” line item in the “Academic and Financial Plan.”
TJ21 OBJECTIVES: A, E5
PILLARS: 5
Priority 6 – Student Success: Total Advising
To improve retention and graduation rates, the University will pioneer “total advising,” a
multidimensional process that combines high-quality academic advising, career advising, and coaching,
includes an online portfolio, and capitalizes on relationships with U.Va. alumni.
Supporting initiatives include, but are not limited to:
•
•
•
•
Continued growth of the College Advising Fellows and College Advising Seminars (COLAs),
concurrent with enrollment growth.
Expansion of the Center for Undergraduate Excellence to enhance student access to and
awareness of academically-related curricular and co-curricular interests.
Reconsideration of the University’s approach to career advising and career development.
Enhanced academic advising to facilitate growth of the 3+1 program, in which undergraduates
with advanced standing will earn a bachelor’s degree and master’s degree in four years. In
addition, continue to evaluate existing graduate degree programs for conversion to accelerated
programs.
TJ21 OBJECTIVES: D, E3, E5, E6, E8, E10, E12
PILLARS: 1, 3
Priority 7 – Research & Economic Development: Pan-University Research Priorities
To increase research, including regional and public-private collaboration, continue development of and
support for pan-University research priorities: (1) systems bioscience and bioengineering, (2)
computational systems science and modeling (i.e. “Data Science”), (3) sustainability, (4) systems energy,
and (5) the OpenGrounds multidisciplinary innovation collaborative. Pursue additional pan-University or
school-specific research priorities, not included above, when faculty expertise converges with
opportunities presented by private enterprise, local and state government, the federal government,
and/or other strategic initiatives.
Supporting initiatives include, but are not limited to:
•
Increasing research support from large corporations, small businesses, NGOs, foundations,
venture capitalists, state government, local government, and non-traditional federal agencies.
o Continuing and expanding partnerships with major companies through U.Va.’s Strategic
Corporate Partner program.
o Continuing and expanding partnerships with national defense and intelligence
communities through U.Va.’s Applied Research Institute. This includes U.Va. hiring a
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August 4, 2014
5
•
•
•
dedicated project team, constructing a Sensitive Compartmented Information Facility
(SCIF) and hosting the inaugural Conference on National Defense and Intelligence.
o Continuing and expanding partnership with the Commonwealth Center for Advanced
Logistics Systems (CCALS), whose members include LMR, LMI, CASCOM at Fort Lee, and
The Port of Virginia.
o Expanding the statewide i6 proof-of-concept innovation program with funds to match
U.S. Department of Commerce support.
Capitalizing on existing expertise within the Center for the Advanced Study of Teaching and
Learning-Higher Education (CASTL-HE), Institutional Assessment and Studies (IAS), and the
Teaching Resource Center (TRC) to position the University as a leader in evidence-based study of
teaching and learning in higher education. The University will apply best practices to produce
measurable gains in student learning.
Increasing library support for collaborative research, particularly with respect to “Data Science.”
Leveraging the U.Va. Research Park to serve the local defense community, provide a transition
zone for successful startup companies, and optimize space allocation for the University.
TJ21 OBJECTIVES: E8, E10, E11, E13
PILLARS: 2, 3, 4
Priority 8 – Research & Economic Development: Medical Translational Research
To increase research, expand medical translational research, including cancer clinical trials and focused
ultrasound surgery, so that laboratory discoveries are converted into new methods to diagnose and
treat illness and augment cancer outreach and prevention activities.
TJ21 OBJECTIVES: E8
PILLARS: 2, 4
Priority 9 – Research & Economic Development: Innovation Ecosystem
To increase research and promote economic development, enhance the innovation ecosystem.
Supporting initiatives include, but are not limited to:
•
•
•
Continuing implementation of the U.Va. Economic Development Accelerator (UVEDA), a publicprivate partnership designed to facilitate knowledge transfer and business development around
University research and innovation, including a proof-of-concept fund.
Continuing implementation of a new relationship between U.Va. and the Licensing and Ventures
Group to increase deal flow.
Increasing the number of successful start-up companies generated from U.Va. research.
TJ21 OBJECTIVES: E8, E12
PILLARS: 2, 4, 5
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August 4, 2014
6
Priority 10 – Quality Enhancement: Self-Supporting Programs
To maintain and enhance programmatic quality, incremental revenue generated by self-supporting
programs (business, data science, graduate commerce, and law) will be used to fund increases in
financial aid, utilities and facility maintenance, electronic library resources, and academic programs.
TJ21 OBJECTIVES: E13
PILLARS: 1, 3, 4, 5
Priority 11 – Student Success: Student-Faculty Engagement
As part of the University’s strategic plan, continue support for select initiatives of the University’s
Quality Enhancement Plan (QEP), submitted to the Southern Association of Colleges and Schools
Commission on Colleges (SACSCOC) in 2007. “Enhancing Student-Faculty Engagement” was the topic of
the QEP. The University submitted a QEP Impact Report to SACSCOC in March 2013, documenting
progress-to-date.
Supporting initiatives include, but are not limited to:
•
•
Improving the student-to-faculty ratio in the College of Arts and Sciences, the School of
Engineering and Applied Science, and the School of Architecture.
Increasing the range of high-impact educational experiences for undergraduates, during the
academic year and summer session, that includes meaningful research with faculty, service
learning, entrepreneurial experiences, and internships.
TJ21 OBJECTIVES: D
PILLARS: 1, 3, 4
Priority 12 – Student Success: Technology-Enhanced Instruction
To increase access, continue growth and development of academic programs and coursework using
technology-enhanced instruction. At present, the University offers 17 certificate programs and 13
degree programs that meet the distance education definition of the Southern Association of Colleges
and Schools Commission on Colleges (SACSCOC). In 27 of these 30 programs, students may earn more
than 50 percent of the program through distance education. In addition, the University is heavily
focused on enhancing the use of technology in its residential curriculum.
Supporting initiatives include, but are not limited to:
•
•
•
•
Continued graduate program offerings through the Commonwealth Graduate Engineering
Program (CGEP).
Continued undergraduate program offerings through the Engineers PRODUCED in Virginia
program. Implement the University’s first ABET-accredited online degree program – the B.S. in
Mechanical Engineering.
Continued partnership with George Mason University, James Madison University, and Virginia
Tech through the 4-VA course-sharing initiative using Cisco TelePresence technology.
Continued partnership, initiated in fall 2013, with Duke University through a course-sharing
initiative using Cisco TelePresence technology.
University of Virginia
August 4, 2014
7
•
•
•
•
Continued institutional support for development of hybrid technology-enhanced courses and
the conversion of courses in select degree and certificate programs – such as the Bachelor of
Interdisciplinary Studies – to an online format.
Continued development of online methodologies, in the School of Nursing and the School of
Medicine, for virtual clinical learning activities.
Continued partnership with Coursera to offer massive open online courses (MOOCs), including
expansion into professional development coursework for educators and courses targeted
towards University alumni.
Investing in production facilities and classrooms required to place the University at the forefront
of efforts that enrich traditional in-class activities with Web-based or digital technologies.
TJ21 OBJECTIVES: C, E1, E6, E10
PILLARS: 1, 3, 5
Priority 13 – Institutional Collaboration: The Virginia Community College System (VCCS)
•
To increase degree completion for Virginians with partial credit:
o Expand the Bachelor of Interdisciplinary Studies (BIS) program to Thomas Nelson
Community College, effective fall 2015 (current sites include Charlottesville, Tidewater
Community College, Northern Virginia Community College, and the Richmond Center).
o Implement the Bachelor of Professional Studies in Health Sciences, an online degree
program developed in cooperation with the VCCS, effective fall 2014.
o Negotiated a guaranteed admission agreement (GAA) with the VCCS for the Bachelor of
Professional Studies in Health Sciences program, effective fall 2015.
o Implement the guaranteed admission agreement (GAA) with the VCCS for the RN to BSN
program.
o Implement the RN to BSN distance learning initiative with Germanna Community
College (GCC).
TJ21 OBJECTIVES: E1, E2, E3, E4, E6, E7, E10, E13
PILLARS: 1, 3, 5
Priority 14 – Efficiency and Continuous Improvement
Building upon the success of the institution’s formal improvement program established in 1994, the
University launched a more comprehensive effort, Organizational Excellence, to enhance effectiveness
and efficiency in academic and administrative areas. Institutional and departmental unit efforts will
result in resource optimization, streamlining, reorganizations and partnerships, and improved quality.
The goal is to redirect at least one percent of the operating budget annually.
Supplemental information, appended to the end of this section, provides specific examples of the
University’s most significant approaches and accounts for a projected savings/reallocation/cost
avoidance of approximately $17.6 million over the biennium.
TJ21 OBJECTIVES: B, E9, E12
PILLARS: 5
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August 4, 2014
8
Priority 15 – Research & Economic Development: Southwest Virginia Economic Development
Partnership (Appalachian Prosperity Project)
Continue and enhance the University’s Southwest Virginia Economic Development Partnership, the
Appalachian Prosperity Project, with a continued focus on (1) K-12 education support, (2) business
support/entrepreneurship, and (3) access to healthcare. Recent focus has been on regional centers of
excellence for advanced manufacturing workforce training, U.Va.’s Cancer Center Without Walls
program, town planning assistance, creating new economic development opportunities related to the
Clinch River, and the creation of a community and youth development center.
TJ21 OBJECTIVES: E13
PILLARS: 2
Priority 16 – Student Success: Serving Virginia’s Veterans and Military through Collaboration
The University of Virginia, James Madison University, Old Dominion University, and Virginia Tech
propose to create and pilot a “veteran and military friendly” consortium for earning certificates in high
demand, professional fields and/or completing a bachelor’s degree through cross-institutional
collaboration. This consortium will be developed in partnership with the Governor's office, the State
Council of Higher Education for Virginia (SCHEV), the American Council on Education (ACE), employers,
and other strategic partners.
The four universities propose a pilot consortium that would include the following key elements:
•
•
•
•
Develop an accelerated path to earning high-demand, professional certificates and/or bachelor’s
degrees;
Develop a standardized and transparent policy that translates the prior learning experience of
veterans and adults into college credits;
Develop and/or enhance online and face-to-face courses from each institution that satisfy
certificate and degree requirements; and
Ensure degrees and certificates do not compete with the Virginia Community College System
(VCCS).
This proposal did not receive financial support from the General Assembly in the biennial budget.
However, the four institutions plan to resubmit the proposal in the future.
TJ21 OBJECTIVES: E1, E2, E3, E6, E7, E10, E13
PILLARS: 1, 3, 5
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August 4, 2014
9
Priority 14: Efficiency and Continuous Improvement
Specific Examples
TJ21 Objectives:
E9: Other efficiency reforms to reduce total institutional cost.
E12: Innovation and continuous improvement.
As one of the nation’s premier public universities, the University of Virginia pursues innovation, quality
and improvement, leading to effective stewardship of its resources. A formal program of Organizational
Excellence was established in August 2013 as part of the University’s Cornerstone Strategic Plan. The
program seeks opportunities to enhance stewardship of resources — through resource optimization
from financial to facilities to technological to human resources — and resource alignment of processes,
technology, and people to support institutional priorities and mission activities. Both the academic
departments and administrative offices contribute to the overall goals of organizational excellence.
Examples of these strategies and approaches are differentiated into one of five categories below:
Organizational Restructuring; Service Delivery; Functional Improvements; Collaborations/Consolidations;
Managing Health Care Costs.
The revised estimated savings and reallocation for 2014-2015 total $10,300,892.
Organizational Restructuring
Estimated Savings and Reallocated Dollars: $3,992,900
Organizational Restructuring allows the University to realign its existing human resources and positions
to meet the changing needs of the institution. By repurposing positions in lieu of new hiring, the
University is able to continue to deliver quality service while avoiding the costs associated with new
hires.
Examples:
 The Curry School of Education is combining two positions in staff support for Financial
Operations and the Dean’s Office into a single position.
 The Office of the Vice President for Research is re-structuring the Associate Vice President for
Research position.
 In the Office of Student Affairs, the duties assigned to the Executive Administrative Assistant are
being divided among the office’s other staff.
 With the establishment of the Center for Leadership Excellence, Human Resources is
restructuring a number of their existing positions in order to minimize the need for new hiring
while staffing the new center.
 The VP for Finance position was not replaced at the same level and resources are being
redirected to the managerial reporting project and the restructuring of student financial
resources.
 The College of Arts and Sciences has reallocated Graduate Teaching Assistant wages in order to
better develop and support the school’s faculty.
University of Virginia
August 4, 2014
10
Service Delivery
Estimated Savings and Reallocated Dollars: $1,606,700
Service delivery improvements involve the optimization of resources through a variety of means,
including but not limited to consolidation within an area, a new delivery model, and discontinuation.
Examples:
 By competitively sourcing various goods and services, the University is able to acquire better
pricing. Strategic sourcing of office supplies, aggregated spend for volume discounts, is
projected to realize one million dollars of savings/fees in year one. Other major commodities
and services being analyzed for strategic sourcing opportunities include janitorial and lab
supplies. Contract negotiation is part of the routine purchasing process. This can produce
significant savings on major contracts and the University’s dining contract is currently in
negotiation.
 The Division of Student Affairs and Newcomb Hall will realize savings of $26,000 by transitioning
the HVAC maintenance in their spaces from an external firm to the University’s Facilities
Management.
 The hospital facilities service desk and the academic/administrative area facilities service desk
have been merged into one service desk for more efficient and effective customer service.
 Athletics has eliminated its summer Cavalier Day Camp program.
 A more integrated space planning and management model across the Academic Division,
Medical Center, and Foundation is yielding enhanced space optimization.
o The re-location of the Medical Center call center to the Foundations North Folk
Research Park is an arrangement that improves space utilization for both the University
and the Foundation.
o A reduced reliance on leased space though space planning and renovation of owned
space to accommodate moving entities from “leased” to “owned” space. The Rugby
Administration Building is slated for occupancy later this year.
Functional Improvements
Estimated Savings and Reallocated Dollars: $1,381,292
Functional improvements entail actions that result in process or service improvements, often with nonmonetary benefits but result in effort savings, cost avoidance, and enhanced service. Effort savings
allow support to be redirected to other valued activity.
 Information Technology
o Implemented a new storage solution for the University, a secure cloud sharing site that
provides greater functionality for documents and data storage. This provides faculty
and staff with secure, accessible and shareable storage and reduces the need for on-site
storage.
o Implementation of an ITIL/ITSM Process which included an IT Service Management Tool.
In addition to automating processes, the manual entry of which would otherwise
University of Virginia
August 4, 2014
11


require significant labor, the system is projected to improve customer experience and
increase efficiency by reducing downtime.
o Implementation of Voice over Internet Protocol (VOIP), a modern technology telephone
system that will have enhanced functionality.
Leveraging technology to improve access to information and automate and streamline
workflows in a variety of areas – research administration, travel and expense management, a
mobile application for student services, and internal forms for student transactions related to
course withdrawals, reenrollment and transfers.
The University employs a multi-facet approach to water and energy conservation, including
retro commissioning of existing infrastructure especially in high intensity research buildings, and
programs to modify consumer behavior. Additionally, Facilities Management has transitioned
away from standard cleaning methods towards greater application of “green” cleaning methods
in its housekeeping services.
Collaborations/Consolidations:
Estimated Savings and Reallocated Dollars: $320,000
Schools and units form collaborations as a means to realize synergies and operational efficiencies.
Examples:
 The Batten School has partnered with the School of Medicine for research administration
services, instead of hiring its own staff. This arrangement has allowed Batten to leverage the
expertise of several individuals in the various pre-award/post-award activities – rather than
search for a generalist to handle all aspects research administration.
 The Center for Undergraduate Excellence has merged with the Jefferson Public Citizens
program. Both programs promote undergraduate research.
 The U.Va. Foundation is providing financial services for U.Va.’s Licensing and Ventures Group,
which has resulted in a reduction of staff and space needs.
 Environmental Health and Safety staff joined the Facilities Management and Energy and Utilities
for more effective service delivery.
Health Care and Other Fringe Related Savings
Estimated Savings and Reallocated Dollars: $3,000,000
Examples:
 The Health plan was redesigned to incentivize the use of the U.Va. pharmacy, which benefits
both the institution and the individual employee. Further, a new full service pharmacy has
opened at the Bookstore which provides greater access for the University community. ($1.4m)
 A wellness program focused on educating and enabling healthy lifestyle choices through
activities such as screenings and disease management programs has a cost to implement but
over time should have a positive impact on the magnitude of health care claims.
 A change to the spousal coverage went into effect in January 2014, which is projected to yield
an annual savings of $10 million. (excluded from total above)
University of Virginia
August 4, 2014
12
C. Financial Aid
The University of Virginia’s Board of Visitors authorized AccessUVa in February 2004 to ensure that an
undergraduate education at the University would be available to all students regardless of their financial
circumstances. The program has been successful in increasing socioeconomic diversity, reducing
student loan debt and meeting 100 percent of need for all of the University’s undergraduate students.
This program continues to bring the University significant recognition as the premier need-based aid
program for a public institution in the United States.
•
The University engaged an external consultant in 2012 to review the current AccessUVa
program to help us focus on long-term financial sustainability. As a result of this study, in
August 2013 the University affirmed the foundational tenets of AccessUVa – offering 100% of
financial need to all undergraduates through need-blind admissions; made administrative
changes; and, after considering several options, capped need-based loans for low-income instate students at $3,500 annually and for low-income out-of-state students at $7,000 annually.
The need-based loan cap for all other students with need is $7,000 annually.
The following table highlights examples of how aid is awarded to students in Fall 2014 through the
AccessUVa program to students from families of different income levels (low = less than 200 percent of
federal poverty guidelines; all others = greater than 200 percent of federal poverty guidelines):
Low Income
Family Income < $47K
200% of Poverty or Less
Example Income: $0K
In-State Total Cost of Attendance
Expected Family Contribution
Subsidized loans
Work study
Grants (state, federal, private sources)
Grants from tuition
Unmet need
University of Virginia
August 4, 2014
$26,300
$1,600
$3,500
$3,000
$10,850
$7,350
$0
Other Students with Need
Family Income > $47K
200% of Poverty or
Greater
Example Income: $70K
$26,300
$13,600
$7,000
$0
$2,850
$2,850
$0
13
The following chart shows the various sources of funding that comprise the AccessUVa budget, which
reached over $100 million in 2014-15. Institutional grants comprise about $45 million of the budget and
are taken from unrestricted institutional funds. The remainder of the funding comes from state, federal,
and private funds as well as athletics grants-in-aid.
University of Virginia
August 4, 2014
14
Six-Year Plans - Part I (2013): 2014-16 through 2018-20
The University of Virginia's College at Wise
ACADEMIC AND FINANCIAL PLAN
Instructions: In the column entitled “Academic and Support Service Strategies for Six-Year Period (2014-2020),” please provide title to identify strategies (for the three biennia of this six-year period) associated with each objective of the “Preparing for the Top Jobs of the 21 st Century: The Virginia Higher Education Opportunity Act of 2011.” Please use
this title to identify a more detailed description of the strategy in the separate Word document .
ACADEMIC AND SUPPORT SERVICE STRATEGIES FOR SIX-YEAR PERIOD (2014-2020)
Biennium 2014-2016 (7/1/14-6/30/16)
Priority
Ranking
Biennium 2016-2018 (7/1/16-6/30/18)
Biennium 2018-2020 (7/1/18-6/30/20)
Strategies
Strategies
Cost: Incremental, Savings, Reallocation
TJ21
Objectives
Strategies (Short Title)
2014-2015 (Original)
2015-2016 (Original)
Amount Within Tuition
Increase
Amount
2014-2015 (Revised)
Amount Within Tuition
Increase
Amount
2015-2016 (Revised)
Amount Within Tuition
Increase
Amount
Amount Within Tuition
Increase
Amount
$50,000
$1,399,814
$50,000
$104,740
$50,000
$1,440,122
STEM Early College Academy
Incremental:
B, D, E1, E3,
E5, E6, E7,
Savings:
E9, E11, E12,
E13
Reallocation:
$310,380
3
$0
$0
$0
$0
$0
$0
$0
$0
$0
$483,812
$0
$54,740
$0
$487,147
$0 *Continue search for external donors for scholarships
Incremental:
$144,203
$0
$143,745
$0
$60,586
$0
$150,000
$0 *Develop summer intervention program between freshman
4
Early Alert Program for Identifying At-Risk
Students
E3, E5, E9,
E12, E13, D,
B
and sophomore years for students experiencing academic
$0 difficulty
$0
$0
$0
$0
$0
$0
$0
$144,203
$0
$143,745
$0
$150,000
$0
$150,000
Incremental:
$69,108
$69,108
$66,630
$66,630
$21,500
$0
$227,842
$0
$0
$0
$0
$0
$0
$0
$0
$0
6
E2, E3, E4,
E5, E6, E10,
E11, E13, D,
B
High Need Degrees
Science Consortium
*Enhance STEM academic program for public school teachers
$0 *Develop STEM academic program for public school teachers *Assess program and modify as needed
Reallocation:
Savings:
Savings:
5
$50,000 *Assess program and modify as needed
*Sustain model to serve future students
*Assess and modify program as needed
$0 *Assess and modify program as required
*Implement the results of the new online RN-to-BSN program
*Assess and modify strategies as needed
*Extend software engineering marketing and the development
Reallocation:
$0
$0
$0
$0
$21,500
$0
$21,500
$0 of STEM materials focusing on middle school students
$0 *Evaluate/assess and modify strategy components as needed *Evaluate/assess and modify strategy as needed
$0
Incremental:
$18,324
$0
$18,324
$0
$18,324
$0
$18,324
E6, E12, E13, Savings:
B, C, D
Reallocation:
$0
$0
$0
$0
$0
$0
$0
$18,324
$0
$18,324
$0
$18,324
$0
$18,324
Incremental:
$308,750
$0
$308,750
$0
$94,419
$0
$424,763
$0
$0
$0
$0
$0
$0
$0
*Expand on-campus lab experience to include students from
$0 other middle schools within the county
*Expand on-campus lab experience to include students from
other middle schools within the region
*Improve the work streams/outcomes of the three APP Pillars:
$0 Healthy Appalachia Institute, Appalachian Ventures and
Appalachians Building Capacity
Savings:
7
Appalachian Prosperity Project (APP)
$0 *Develop long-range APP plan and refine metrics
E6, E8, E11,
E12, E13, C,
D
*Refine/implement communications and marketing plan
Reallocation:
$8,750
$0
$8,750
$0
$94,419
$0
$94,419
Incremental:
$47,148
$0
$47,148
$0
$47,148
$0
$47,148
*Update The Blueprint for Health improvement and Healthenabled Prosperity for Southwest Virginia (Grant proposal to
$0 fund has been submitted)
*Increase symposium attendance
*Continue to expand funding and philanthropic support
*Continue to expand APP communications
*Continue to expand funding/philanthropic support
8
9
10
Improve K-12 Teaching and Learning Through
the Center for Teaching Excellence and Other
Outreach
E7, B, D
Expand Scope of Summer Programs
E3, E5, E9,
E12, A, B
Undergraduate Research Initiatives
E8, C
$0
*Continue to assess target instructional need areas for K-12
*Continue to assess target instructional need areas for K-12
teachers
*Continue to assess and modify course offerings in both the
*Continue to assess and modify course offerings in both the
Summer College as well as regular academic year
$0
$0
$0
$0
$0
$0
$0
Reallocation:
$47,148
$0
$47,148
$0
$47,148
$0
$47,148
$0 teachers
$0
Incremental:
$38,280
$0
Savings:
$0
$38,280
$0
$38,989
$0
$38,989
$0
$0
$0
$0
$0
$0
$0
Reallocation:
$38,280
$0
$38,280
$0
$38,989
$0
$38,989
Incremental:
$27,515
$0
$27,515
$0
$6,000
$0
$27,515
$0
$0
$0
$0
$0
$0
$0
Reallocation:
$27,515
$0
$27,515
$0
$6,000
$0
$6,000
Incremental:
$0
$0
$0
$0
$70,000
$0
$356,942
Savings:
$0
$0
$0
$0
$0
$0
$0
Reallocation:
$0
$0
$0
$0
$70,000
$0
$70,000
Incremental:
$0
$0
$0
$0
$48,400
$0
$494,924
Savings:
$0
$0
$0
$0
$0
$0
$0
Reallocation:
$0
$0
$0
$0
$48,400
$0
$49,100
$0
Incremental:
$0
$0
$0
$0
Savings:
$0
$0
$0
$0
Reallocation:
$0
$0
$0
$0
Incremental:
$0
$0
$0
$0
Savings:
$0
$0
$0
$0
Reallocation:
$0
$0
$0
$0
Incremental:
$0
$0
$0
$0
Savings:
$0
$0
$0
$0
Reallocation:
$0
$0
$0
$0
$963,708
$119,108
$2,050,206
$116,630
$510,106
$50,000
$3,226,569
$50,000
$0
$0
$0
$0
$0
$0
$0
$0
$284,220
$0
$767,574
$0
$549,520
$0
$982,627
$0
Savings:
Savings:
$0 Summer College as well as regular academic year
$0
$0 *Assess and modify strategy as needed
$0 *Assess and modify the "Research Day" as needed
*Assess and modify strategy as needed
*Expand the "Science and Engineering Fair" to include high
2
1
Federal Mandate: SACS-Clery-Title IX-VAWA
Compliance
Rentention and Graduation
E7, E9, E12
E3, E5, E9,
E12, E13, D,
B
Total 2014-2016 Costs
Incremental (Included in
Financial Plan line 61)
Savings
Reallocation
2011 Six-Year Plan - Academic
1 of 2
$0 schools within the Southwest Virginia region
$0
*Continue to assess and modify compliance strategies to meet
$0 changing federal and SACS requirements
$0
$0 *Continue to assess and modify success coaching model
$0
*Assess and modify strategy as needed
*Assess and modify strategy as needed
*Continue to assess and modify QEP plan
SCHEV - 5/3/2011
Six-Year Plans - Part I (2013): 2014-16 through 2018-20
The University of Virginia's College at Wise
ACADEMIC AND FINANCIAL PLAN
Instructions: In the column entitled “Academic and Support Service Strategies for Six-Year Period (2014-2020),” please provide title to identify strategies (for the three biennia of this six-year period) associated with each objective of the “Preparing for the Top Jobs of the 21 st Century: The Virginia Higher Education Opportunity Act of 2011.” Please use
this title to identify a more detailed description of the strategy in the separate Word document .
ACADEMIC AND SUPPORT SERVICE STRATEGIES FOR SIX-YEAR PERIOD (2014-2020)
Biennium 2014-2016 (7/1/14-6/30/16)
Priority
Ranking
Biennium 2016-2018 (7/1/16-6/30/18)
Biennium 2018-2020 (7/1/18-6/30/20)
Strategies
Strategies
Cost: Incremental, Savings, Reallocation
TJ21
Objectives
Strategies (Short Title)
2014-2015 (Original)
2015-2016 (Original)
Amount Within Tuition
Increase
Amount
2014-2015 (Revised)
Amount Within Tuition
Increase
Amount
2015-2016 (Revised)
Amount Within Tuition
Increase
Amount
Amount Within Tuition
Increase
Amount
Six-Year Financial Plan for Educational and General Programs, Incremental Operating Budget Need
2014-2016 Biennium
(Assuming No Additional General Fund)
2014-2015
3
Total Incremental Cost from Academic Plan
*See Notation*
Increase Faculty Salaries2 -
4 - *See Notation*
Faculty Salary Increase Rate
3
Increase Number of Full-Time Faculty ($)
Increase Number of Full-Time Faculty3 (FTE)
Increase Number of Part-Time Faculty3 ($)
Increase Number of Part-Time Faculty3 (FTE)
Increase Number of Support Staff ($)
*See Notation*
Increase Number of Support Staff (FTE)
Library Enhancement ($)
Library Enhancement (FTE)
Technology Enhancement ($)
Technology Enhancement (FTE)
O&M for New Facilities ($)
O&M for New Facilities (FTE)
Utility Cost Increase
2015-2016
Amount Within Tuition
Increase
Amount
Items
$963,708
$119,108
$2,050,206
$150,000
$0
8.00%
0.00%
$0
$0
0.00
2014-2015 (Revised)
Amount Within Tuition
Increase
Amount
2015-2016 (Revised)
Amount Within Tuition
Increase
Amount
$116,630
$510,106
$150,000
$0
8.00%
0.00%
$0
$0
Amount Within Tuition
Increase
Amount
$50,000
$3,226,569
$150,000
$0
$150,000
$0
6.75%
0.00%
6.75%
$50,000
0.00%
$244,000
$0
$175,000
$0
0.00
4.00
0.00
4.50
0.00
6.50
$21,200
$0
$22,260
$0
$42,000
$0
$42,000
$0
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
$0
$0
$0
$0
$35,000
$0
$35,000
$0
6.00
1.00
6.00
1.00
2.00
0.00
17.00
0.00
$0
$0
$0
$0
0.00
$100,000
$0
$100,000
$0
0.00
0.00
0.00
$100,000
$0
$100,000
$0
0.00
0.00
0.00
0.00
$0
$0
$0
$0
0.00
0.00
0.00
0.00
$30,000
$0
$31,500
$0
$30,000
$0
$35,000
$0
NGF share of state authorized salary increase/bonus
$121,680
$121,680
$124,114
$124,114
$0
$0
$0
$0
Fringe/health insurance benefits increase
$154,000
$154,000
$201,000
$201,000
$924,565
$924,565
$924,565
$924,565
$39,514
$39,514
$39,514
$39,514
$164,528
$164,528
$164,528
$164,528
VRS increase
Additional In-State Student Financial Aid From Tuition Revenue
Others (Specify, insert lines below)
Total Additional Funding Need
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$1,580,102
$434,302
$2,718,594
$481,258
$2,200,199
$1,139,093
$4,852,662
$1,139,093
Notes:
(1) Enter staff FTE change over the FY2014 level in appropriate columns.
*Staff $ costs are included in the incremental cost of the academic plan*
(2) If planned, enter the cost of any institution-wide increase.
*This allocation is for T&R merit based salary increase only. In 2013-14, 45 T&R faculty received an average of 5.2% or $3,375.00 in merit based increases.
Planned allocations for 2014-2015 and 2015-2016 will total $150,000 each year.
(3) Please ensure that these items are not be double counted if they are already included in the incremental cost of the academic plan.
(4) Enter planned annual faculty salary increase rate. Any salary increase entered here will be countedwhen calculating the gap to reach the 60th percentile in the future.
2011 Six-Year Plan - Academic
2 of 2
SCHEV - 5/3/2011
MISCELLANEOUS FINANCIAL REPORTS
Finance Committee
University of Virginia
September 11, 2014
1
UNIVERSITY OF VIRGINIA
Endowment/Long-Term Investments, Including Related Foundations
June 30, 2014
(in thousands)
Rector and
Visitors Funds
Related
Foundation
Funds Invested
by UVIMCO
Alumni
Association
Funds Invested
by UVIMCO
Related
Foundation
Funds Invested
by Direction of
Foundation
$
$
$
The University of Virginia Medical School and related foundations $
The College of Arts and Sciences and related foundations
The University of Virginia Law School and related foundation
Darden School and related foundation
Batten School of Leadership and Public Policy
School of Engineering and related foundation
The McIntire School of Commerce and related foundation
University of Virginia's College at Wise and related foundation
Graduate School of Arts and Sciences
School of Nursing
Curry School of Education and related foundation
School of Architecture and related foundation
School of Continuing and Professional Studies
978,748
445,283
53,309
134,922
134,111
114,618
56,468
55,768
65,143
53,548
16,095
20,859
2,365
University of Virginia Medical Center and related foundations
Jefferson Scholars Foundation
Centrally Managed University Scholarships
Alumni Association
Athletics and related foundation
Provost
University of Virginia Foundation and related entities
Miller Center and related foundation
Alumni Board of Trustees
University Libraries
Alumni Association (Funds Held for Others)
University Investment Management Company
539,928
215,599
48,979
111,711
62,774
65,969
-
71,463
266,325
71,547
87,153
11,858
66,468
11,257
1,404
91,966
504
245
58,476
-
University - Unrestricted but designated
University - Unrestricted Other
University - Unrestricted Quasi and True Endowment
University - Restricted
380,398
218,935
200,016
147,805
-
-
-
380,398
218,935
200,016
147,805
76,377
-
-
-
76,377
$ 4,199,728
$ 1,305,832
218,582
$ 5,959,954
University Charitable Remainder Trusts
55,112
83,369
271,382
272,024
11,739
11,041
11,270
3,824
-
$
10,980
13,197
52,865
2,832
2,805
480
58
235,812
2,054
132,050
10,934
2,402
632
-
Total
16,269 *
14,088
40,153
-
$
$ 1,044,840
543,903
456,741
417,880
134,111
128,759
109,965
69,641
65,143
56,353
27,365
25,163
2,423
629,064
280,413
215,599
132,119
121,030
111,711
87,153
74,632
66,468
66,214
58,476
11,257
*Excludes approximately $70.3 million of board designated pension funds.
Source: Associate Vice President for Finance
Date:
August 21, 2014
2
UNIVERSITY OF VIRGINIA
INVESTMENT OF OPERATING FUNDS ($MM)
AS OF JUNE 30, 2014
Source:
Date:
Associate Vice President and Treasurer
August 15, 2014
3
4
UNIVERSITY OF VIRGINIA
Quasi-Endowment Actions
April 1, 2014 – June 30, 2014
The quasi-endowment actions listed below were approved by either (1) the Executive Vice President and Chief Operating
Officer, under the following Board of Visitors' resolutions or (2) the Assistant Vice President for Finance and University
Comptroller, under the delegation of authority from the Executive Vice President and Chief Operating Officer:
In October 1990 and June 1996 the Board of Visitors approved resolutions delegating to the Executive Vice President and
Chief Operating Officer the authority to approve quasi-endowment actions, including establishments and divestments of less
than $2,000,000, with regular reports on such actions.
In February 2006, the Board of Visitors approved a resolution permitting approval of quasi-endowment transactions,
regardless of dollar amount, in cases in which it is determined to be necessary as part of the assessment of the business plan
for capital projects. Additionally, to the extent that the central loan program has balances, they may be invested in the long
term investment pool managed by UVIMCO or in other investment vehicles as permitted by law.
Additions from Gifts
Access UVA Scholarships
McIntire School of Commerce Bequest Gifts Quasi-Endowment
President's Fund for Excellence Unrestricted Quasi-Endowment
University Quasi-Endowment Fund 2
UVA Bookstore Quasi-Endowment for Excellence
1
Wyllie, John Cook Book Fund Quasi-Endowment
Total Additions from Gifts to Quasi-Endowments
$
$
Amount
631,570
5,000
60,937
34,181
450,000
100,000
1,281,688
Additions from Endowment Income (Capitalizations)
Total Additions from Endowment Income to Quasi-Endowments
$
Divestments
Center for SCAT Restricted Quasi-Endowment
Osher Lifelong Learning Institute Quasi-Endowment
Osher Reentry Scholarship Quasi-Endowment Fund
Southwest-Dishner Gift Quasi-Endowment Fund
Total Divestments from Quasi-Endowments
$
$
-
66,595
25,518
54,000
39,200
185,313
Notes:
1
Quasi-endowment newly established or originally funded since April 1, 2014.
2
Includes current unrestricted gifts to the University which, under a standing Board of Visitors resolution, are required to be
added to the University's Unrestricted Endowment Fund.
Source:
Date:
5
Associate Vice President for Finance
August 15, 2014
UNIVERSITY OF VIRGINIA
SALARY AND COMPENSATION FOR FULL-TIME INSTRUCTIONAL FACULTY
AT AAU AND SCHEV PEER GROUP INSTITUTIONS
These reports provide average compensation and salary
figures for institutions included in the Association of American
Universities, and average salary figures for the University's
peer institutions, as established by the State Council of Higher
Education for Virginia. These figures include instructional
faculty paid on a full-time basis; all medical faculty have been
excluded. Salary figures for those faculty with eleven- or
twelve-month duties have been converted to nine-month figures by
adjusting the total salaries by a factor of 9/11ths. The source
for these figures is "The Annual Report on the Economic Status
of the Profession, 2013-2014," Academe, March-April, 2014, the
bulletin of the American Association of University Professors.
Source:
Date:
6
Institutional Assessment and Studies
August 15, 2014
UNIVERSITY
OF
VIRGINIA FACULTY SALARY
AND
COMPENSATION AVERAGES
Salary at AAU Institutions
 AAU salary data includes all sources of funds.

The 59 institutions included in this year’s rankings are only the
U.S. institutions. Two Canadian institutions, the University of
Toronto and McGill University, have been excluded.

The UVa average in each of the years displayed represents the
salary average as of Dec. 1 of that year and reflects the merit
increase of that date, except for 2013-2014. In 2013-2014,
salary increases were dispersed on July 1 and average salaries
displayed for 2013-2014 are as-of that date.

In 2013-2014, the Commonwealth increased faculty salary funding
by 3.00% and the University set aside an additional 1.75% for a
total 4.75% for faculty salary increases on July 1, 2013.
However, in addition, Arts and Sciences had awarded mid-term
increases in January of 2013. The result was a 6.03% overall
average increase for the fiscal year. The median increase among
AAU institutions was only 2.4%, and as a result, UVa’s rank among
the AAU increased by seven positions to 27th, recouping most of
the loss from the previous year.

In 1989-1990, before the first round of the Wilder budget cuts,
UVa ranked 18th (69th percentile) in the AAU. Since then our
ranking has varied, never rising above 18th, dropping to its
lowest level in 2012-2013 (43rd percentile). During that 24-year
period, the University’s average salary increased from $54,100 in
1989-90 to $116,000 in 2013-14 (a total increase of 114.4%, which
is the equivalent of an annual 3.23% increase applied and
compounded each year).

The University’s current position in the AAU, 27th, is still
short of the BOV target of 20th. This gap represents $6,000 in
average salary.
Compensation at AAU Institutions
 As in the case of the average salary, average compensation was
reported as of December 1 of each year except 2013-2014, in which
the compensation was reported as of July 1. The average
compensation includes both salary and benefits.

The UVa average compensation increased by 5.78% in 2013-2014.
This was well above the median for the AAU (2.58%) and resulted
in an increase of 4 positions in our compensation ranking, from
32nd to 28th.

In 1989-1990 UVa ranked 20th (65th percentile) in compensation.
7
Since then our ranking has varied, never rising above 20th nor
falling below 33rd, and now stands at 28th (53rd percentile) in
2013-2014. During that 24-year period our average compensation
increased from $66,800 in 1989-1990 to $146,400 in 2013-2014 (a
total increase of 119.2%, which is the equivalent of an annual
3.32% increase applied and compounded each year).
State Salary at SCHEV Peer Institutions
 The attached table includes the salary averages for the
University’s SCHEV-approved faculty salary peer group in 20082009 through 2013-2014. Again, the UVa state salary average
represents the salary average as of December 1 each year except
2013-2014. The UVa state salary averages listed in the table
represent the authorized state salary averages rather than the
actual averages. They are intended to exclude all UVa endowment
funds.

Five consecutive years without state faculty salary increases had
caused UVa’s rank among the sample peers to drop to the 20th
position (20th percentile) in 2012-2013, but the 3.00% increase
in 2013-2014 caused our rank to rebound somewhat to 19th (22nd
percentile).

In 1989-1990, UVa ranked 10th in the State peer group that was in
effect at that time. Two new peer groups have been approved
since then. In the current peer group, the University began in
2007-2008 at position 15, at the 41st percentile, and has dropped
to 19th (22nd percentile) in 2013-2014.
Source:
Date:
8
Institutional Assessment and Studies
August 15, 2014
Average Salary for Full-Time Instructional Faculty at AAU Institutions, 2008-09 to 2013-14
Rank
2008-09
2009-10
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
Stanford U
154,500
Harvard U
149,400
Cal Tech
147,300
U Penn
139,500
Princeton U
137,500
Duke U
132,700
Columbia U
131,100
Northwestern
130,700
MIT
130,600
Yale U
130,500
U Chicago
127,600
Emory U
119,600
Cornell-Endow 118,800
UCLA
116,800
UC Berkeley
116,500
Washington U 114,400
Rice U
111,100
Brown U
110,400
NYU
110,300
CMU
109,700
UC San Diego 107,200
Rutgers U
106,800
USC
106,000
UNC
106,000
1 105,900
Johns Hopkins
U Virginia
103,900
Vanderbilt
102,900
U Michigan
102,600
UC Santa Barb 102,300
U Rochester
102,100
U Maryland
102,000
UC Irvine
101,900
UC Davis
101,600
Ohio State
100,500
U Illinois
99,700
Brandeis U
96,400
U Washington
96,400
U Texas
96,100
SUNY Buffalo
94,800
U Iowa
94,100
SUNY StonyBrk 94,100
Case Western
93,900
U Minnesota
93,400
U Wisconsin
93,400
U Kansas
91,400
Mich St U
91,000
Purdue U
90,100
Indiana U
89,300
U Colorado
88,300
Syracuse U
88,200
Penn State
87,500
U Pittsburgh
87,300
U Arizona
87,200
Texas A&M
86,000
U Nebraska
85,900
U Florida
85,300
Iowa State
85,300
Tulane U
84,100
U Missouri
81,600
U Oregon
73,300
_____________
Stanford U
153,900
Harvard U
150,000
Cal Tech
145,600
Columbia U
141,400
Princeton U
140,300
U Penn
139,900
Northwestern
134,100
MIT
132,200
U Chicago
132,100
Duke U
131,400
Yale U
129,400
UCLA
121,800
Emory U
120,600
Cornell-Endow 119,900
UC Berkeley
118,800
Washington U 116,100
Rice U
113,400
NYU
111,400
CMU
110,900
UC San Diego 108,800
Brown U
108,300
USC
107,300
Rutgers U
107,100
1 106,885
Johns Hopkins
UC Santa Barb 105,500
UNC
105,500
UC Irvine
104,100
U Michigan
104,000
U Virginia
103,900
U Maryland
103,600
Ohio State
103,400
UC Davis
103,400
U Rochester
102,300
Vanderbilt
101,500
U Illinois
100,100
SUNY StonyBrk 97,700
SUNY Buffalo
97,400
Brandeis U
97,100
U Washington
96,500
U Texas
96,300
Case Western
94,700
U Wisconsin
94,500
U Iowa
94,100
Mich St U
93,100
U Minnesota
92,900
Indiana U
90,800
Purdue U
90,500
U Arizona
89,000
U Colorado
88,800
U Kansas
88,100
Syracuse U
87,900
Texas A&M
87,900
U Pittsburgh
87,600
U Nebraska
87,300
Penn State
86,700
Tulane U
86,600
U Florida
85,300
Iowa State
84,800
U Missouri
81,700
U Oregon
76,000
_____________
#
Median Increase: 4.24%
Median Increase: 0.93%
UVa Increase: 0.87%
UVa Increase: 0.00%
UVa Percentile Rank: 58th UVa Percentile Rank: 53rd
2010-11
#
Stanford U
Harvard U
Cal Tech
U Penn
Columbia U
Princeton U
Northwestern
U Chicago
MIT
Yale U
Duke U
UCLA
UC Berkeley
Cornell-Endow
Emory U
Washington U
Rice U
NYU
Georgia Tech
CMU
Brown U
USC
UC San Diego
Johns Hopkins 1
Rutgers U
UC Santa Barb
Vanderbilt
U Virginia
U Michigan
Ohio State
UNC
U Rochester
UC Irvine
UC Davis
SUNY StonyBrk
U Illinois
U Maryland
SUNY Buffalo
U Texas
Brandeis U
U Wisconsin
Case Western
Purdue U
U Washington
U Iowa
Mich St U
U Minnesota
Indiana U
U Pittsburgh
Penn State
U Arizona
U Florida
Tulane U
Iowa State
U Kansas
U Colorado
Texas A&M
U Missouri
U Oregon
2011-12
159,500
151,300
150,900
144,300
143,800
142,700
137,300
136,300
135,800
134,400
133,300
126,100
123,000
122,800
120,800
118,900
116,000
113,200
112,900
112,500
112,200
111,400
110,400
109,553
108,900
107,700
107,200
#
106,300
106,000
105,500
105,400
105,300
104,900
104,500
103,800
103,500
102,700
102,100
100,000
98,500
97,400
97,000
96,400
95,300
95,000
94,500
92,400
91,000
90,500
90,000
89,800
89,400
89,200
88,300
87,600
86,700
85,200
81,300
76,600
Stanford U
Harvard U
Cal Tech
U Penn
Princeton U
Columbia U
Duke U
U Chicago
MIT
Northwestern
Yale U
UCLA
UC Berkeley
Cornell-Endow
Washington U
Emory U
NYU
Brown U
CMU
UC San Diego
Rice U
USC
Georgia Tech
UC Santa Barb
Johns Hopkins 1
U Virginia
UC Davis
Vanderbilt
Rutgers U
UC Irvine
U Michigan
U Rochester
Ohio State
U Illinois
UNC
SUNY StonyBrk
U Maryland
Brandeis U
SUNY Buffalo
U Texas
Case Western
Purdue U
U Wisconsin
U Washington
Indiana U
U Iowa
Mich St U
U Minnesota
Tulane U
U Colorado
U Pittsburgh
U Arizona
Penn State
U Florida
Iowa State
U Kansas
Texas A&M
U Missouri
U Oregon
2012-13
166,400
154,100
151,900
150,300
148,400
148,000
146,600
140,800
140,500
140,000
137,200
131,600
126,200
125,800
123,100
122,143
116,400
115,400
115,200
115,100
114,600
114,300
113,900
112,900
112,200
110,900
110,100
109,800
109,500
109,500
108,900
108,700
107,600
106,500
104,600
104,000
103,800
103,500
102,700
102,300
99,800
98,800
97,700
97,200
96,200
96,100
95,700
93,500
92,600
92,300
91,400
90,800
90,300
89,900
88,700
87,300
86,500
83,600
79,800
_____________
_____________
Median Increase: 2.29%
UVa Increase: 2.31%
UVa Percentile Rank: 53rd
Median Increase: 2.44%
UVa Increase: 4.33%
UVa Percentile Rank: 57th
#
Stanford U
Cal Tech
Columbia U
Harvard U
U Penn
Princeton U
Duke U
MIT
U Chicago
Northwestern
Yale U
UCLA
UC Berkeley
Washington U
Cornell-Endow
Emory U
Brown U
NYU
USC
Rice U
Vanderbilt
UC San Diego
Georgia Tech
CMU
UC Santa Barb
UC Irvine
UC Davis
Rutgers U
U Rochester
U Illinois
Ohio State
U Michigan
Boston U
U Virginia
UNC
U Maryland
SUNY StonyBrk
U Texas
Brandeis U
SUNY Buffalo
Case Western
Purdue U
U Wisconsin
U Washington
Indiana U
U Minnesota
U Iowa
Mich St U
Penn State
U Colorado
Tulane U
U Arizona
U Pittsburgh
U Florida
Iowa State
U Kansas
Texas A&M
U Missouri
U Oregon
Johns Hopkins 1
2013-14
173,900
158,300
158,100
157,900
155,300
153,100
151,700
145,700
144,600
142,000
140,542
135,700
130,600
125,400
125,100
124,500
119,300
119,200
117,600
117,400
117,100
116,400
116,400
115,200
113,800
113,400
112,800
112,800
111,600
110,400
110,300
110,200
110,100
109,400
107,100
104,900
104,000
103,600
103,200
101,400
100,900
100,500
100,400
99,700
98,400
98,100
97,100
94,600
94,500
94,400
94,000
91,900
91,700
91,200
90,700
89,200
88,400
86,300
78,400
NA
Median Increase: 2.39%
UVa Increase: -1.35%
UVa Percentile Rank: 43rd
#
Stanford U
Cal Tech
Harvard U
Columbia U
U Penn
Duke U
Princeton U
U Chicago
MIT
Northwestern
Yale U
UCLA
UC Berkeley
Cornell-Endow
Rice U
Washington U
Emory U
NYU
Brown U
Vanderbilt
Georgia Tech
USC
UC San Diego
UC Santa Barb
CMU
UC Irvine
U Virginia
U Michigan
UC Davis
U Illinois
U Rochester
Rutgers U
Boston U
Ohio State
U Maryland
U Texas
UNC
SUNY StonyBrk
Brandeis U
U Wisconsin
Purdue U
Case Western
U Washington2
SUNY Buffalo
Indiana U
U Minnesota
U Iowa
Tulane U
Mich St U
U Florida
U Colorado
Penn State
U Arizona
U Pittsburgh
Iowa State
Texas A&M
U Kansas
U Missouri
U Oregon
Johns Hopkins 1
Rank
182,000
161,800
161,800
161,600
159,200
158,000
157,200
151,400
151,300
147,500
145,500
139,900
134,600
129,200
126,800
126,300
125,600
123,700
123,200
122,000
120,300
120,200
119,800
117,800
117,100
116,500
4.66%
2.21%
2.47%
2.21%
2.51%
4.15%
2.68%
4.70%
3.84%
3.87%
3.53%
3.10%
3.06%
3.28%
8.01%
0.72%
0.88%
3.78%
3.27%
4.18%
3.35%
2.21%
2.92%
3.51%
1.65%
2.73%
116,000
6.03%
114,700
114,500
114,300
113,900
113,200
112,700
111,300
107,100
104,900
104,500
104,500
104,100
104,100
102,600
102,100
102,100
100,300
99,800
99,200
99,100
98,800
96,900
96,400
95,000
93,700
93,700
93,700
93,700
93,100
91,000
87,300
80,200
NA
4.08%
1.51%
3.53%
2.06%
0.35%
2.36%
0.91%
2.10%
1.25%
-2.43%
0.48%
0.87%
3.69%
2.09%
1.19%
2.41%
-1.08%
1.42%
1.12%
2.06%
5.11%
2.43%
5.70%
0.64%
-0.85%
1.96%
2.18%
3.31%
5.32%
2.02%
1.16%
2.30%
Median Increase:
UVa Increase:
UVa Percentile Rank:
2.41%
6.03%
55%
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
Notes: All medical faculty are excluded from the above salary averages. Only faculty who are 50% or more instructional are included.
Only U.S. instituions are included above. The University of Toronto and McGill University, although members of AAU, are not included.
In 2010-11, Georgia Tech was added to the list and Nebraska and Syracuse were deleted from the list because of changes in AAU membership. In 2012-13, Boston University was added.
Source: Academe, Bulletin of the American Association of University Professors
1 Data for Johns Hopkins for 2008-09 through 20011-12 were not available so the AAU median increase was used. Since they no longer
participate in the AAUP survey, they have been excluded from the calculations beginning in 2012-13
2 Data for the University of Washington were not available for 2013-14 so the AAU median increase was used.
9
Institutional Assessment and Studies
April 16, 2014
10
11
UNIVERSITY OF VIRGINIA
Sponsored Programs Restricted Grant and Contract Activity
June 30, 2014
As shown on the subsequent page, through the fiscal year ended June 30, 2014 the
University received sponsored program awards totaling $285.8 million. This is an increase of
3.1% in award dollars from fiscal year 2013, which saw $277.1 million in total awards. The
number of awards is nearly unchanged with 1,715 awarded through June 30, 2013 versus 1,709
awarded through June 30, 2014.
While the increase in award dollars this year is modest in size it is significant because it
reverses the trend of the last few years when the University experienced declining federal
support. Based on the federal budget outlook, we do not anticipate significant increases or
decreases in future federal grant funding available. Faculty hiring, investment through the
Cornerstone Plan, and continued success in faculty proposals could, of course, impact the
proportion of federal funding awarded to the University.
At the University through June 2014, federal support award dollars have increased over
last year from the two largest funding agencies (Department of Health and Human Services and
the National Science Foundation at 5.3% and 20.6% increases, respectively), as well as a
significant uptick in award dollars from the Department of Education (68.3%). Declines
continued at the Department of Defense (39%), the Department of Energy (8.5%), and the
National Aeronautics and Space Administration (29.1%).
In non-federal awards, funding from industry has increased by 35.5%, while foundation
support has declined by 30.8%.
The School of Medicine was awarded 57% of all award dollars, followed by the School
of Engineering and Applied Sciences (19%), the College of Arts and Sciences (13%), and the
Curry School of Education (7%). The remaining 3.5% was distributed among various areas
within the University.
Source:
Date:
12
Associate Vice President for Finance
August 15, 2014
UNIVERSITY OF VIRGINIA
Sponsored Programs Restricted Grant and Contract Activity
Fiscal Year 2014
(in millions)
Dept. of
Health &
Human
Services
Foundation,
Industry,
and
State and
Subcontract Local
Dept. of
Defense
Nat'l
Science
Found.
Dept. Of Dept. Of
Energy Education
Medicine
$ 106.9
Engineering
1.5
Arts & Scs.
6.7
Education
0.3
Nursing
0.9
Law
Other Schools/Depts.
-
$
1.4
11.6
1.1
0.1
$
0.0
9.3
9.3
3.5
0.9
$
0.5
0.6
7.4
0.0
$
0.5
9.0
1.0
$
0.7
1.3
-
$
0.8
7.8
1.9
0.3
0.1
1.9
$
47.3
19.0
9.5
6.0
0.5
0.6
2.9
$
5.0
3.9
0.8
1.4
0.2
0.1
1.2
$ 162.0
54.4
38.4
20.6
1.6
0.7
8.1
Total FY 2014
$
14.2
$
23.1
$
8.4
$
10.5
$
2.0
$
12.8
$
85.8
$
12.7
$ 285.8
$
23.4
$
19.2
$
15.4
School
% of FY 2014
Total FY 2013
% of FY 2013
% Inc (Dec)
$ 116.3
40.7%
$ 110.4
5.0%
8.1%
3.0%
$
9.2
3.7%
$
6.2
Other
Federal
NASA
0.7%
$
2.8
4.5%
$
6.1
30.0%
$
84.4
% of
FY 2014
Total
FY 2013
56.7% $ 167.8
19.0%
46.9
13.4%
38.4
7.2%
12.3
0.6%
1.7
0.2%
0.8
2.8%
9.2
% of
FY 2013
60.5%
16.9%
13.9%
4.4%
0.6%
0.3%
3.3%
% Inc
(Dec)
-3.4%
15.8%
-0.1%
67.8%
-3.2%
-17.7%
-11.7%
4.4%
39.8%
8.4%
6.9%
3.3%
2.3%
1.0%
2.2%
30.4%
5.6%
5.3%
-39.2%
20.6%
-8.5%
68.3%
-29.1%
110.2%
1.8%
-17.8%
Source:
Date:
13
Total
FY 2014
$ 277.1
3.1%
Associate Vice President for Finance
August 15, 2014