Virginia College Savings Plan [174]
Secretarial Area: Independent Agencies
Operating Budget Summary
This table shows the Governor's proposed budget for the next two years and the agency's official budget for the previous six years.
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Biennium Fiscal Year Source GF NGF Total
2010-2012 2011 Chapter 2, 2012 Acts of Assembly $0 $249,258,158 $249,258,158
2010-2012 2012 Chapter 2, 2012 Acts of Assembly $0 $272,256,809 $272,256,809
2012-2014 2013 Chapter 1, 2014 Acts of Assembly $0 $325,020,602 $325,020,602
2012-2014 2014 Chapter 1, 2014 Acts of Assembly $0 $385,747,708 $385,747,708
2014-2016 2015 Chapter 732, 2016 Acts of Assembly $0 $178,598,894 $178,598,894
2014-2016 2016 Chapter 732, 2016 Acts of Assembly $0 $206,338,582 $206,338,582
2016-2018 2017 Chapter 780, 2016 Appropriation Act $0 $241,398,915 $241,398,915
2016-2018 2017 Base Budget $0 $205,337,282 $205,337,282
2016-2018 2017 Governor's Amendments $0 $36,061,633 $36,061,633
2016-2018 2017 General Assembly Adjustments $0 $0 $0
2016-2018 2018 Chapter 780, 2016 Appropriation Act $0 $276,266,839 $276,266,839
2016-2018 2018 Base Budget $0 $205,337,282 $205,337,282
2016-2018 2018 Governor's Amendments $0 $70,929,557 $70,929,557
2016-2018 2018 General Assembly Adjustments $0 $0 $0
Positions Budget Summary
Biennium Fiscal Year Source GF NGF Total
2010-2012 2011 Chapter 2, 2012 Acts of Assembly 0.00 80.00 80.00
2010-2012 2012 Chapter 2, 2012 Acts of Assembly 0.00 80.00 80.00
2012-2014 2013 Chapter 1, 2014 Acts of Assembly 0.00 88.00 88.00
2012-2014 2014 Chapter 1, 2014 Acts of Assembly 0.00 88.00 88.00
2014-2016 2015 Chapter 732, 2016 Acts of Assembly 0.00 105.00 105.00
2014-2016 2016 Chapter 732, 2016 Acts of Assembly 0.00 105.00 105.00
2016-2018 2017 Chapter 780, 2016 Appropriation Act 0.00 115.00 115.00
2016-2018 2017 Base Budget 0.00 105.00 105.00
2016-2018 2017 Governor's Amendments 0.00 10.00 10.00
2016-2018 2017 General Assembly Adjustments 0.00 0.00 0.00
2016-2018 2018 Chapter 780, 2016 Appropriation Act 0.00 115.00 115.00
2016-2018 2018 Base Budget 0.00 105.00 105.00
2016-2018 2018 Governor's Amendments 0.00 10.00 10.00
2016-2018 2018 General Assembly Adjustments 0.00 0.00 0.00
Operating Budget Addenda (in order of greatest impact)
•
Adjust Information Systems Development Services appropriation to align with expenditures Base Budget Adjustment
  Aligns appropriation with historic expenditure levels.
 
  FY FY
Nongeneral Fund ($250,000) ($250,000)
•
Adjust appropriation for centrally funded retirement rate changes Base Budget Adjustment
  Adjusts appropriation for changes in state employee retirement rates to 80 percent of the Virginia Retirement System Board certified rates budgeted in Central Appropriations, Item 467.H. of Chapter 665, 2015 Acts of Assembly. A companion adjustment provides funding to increase state employee retirement rates to 90 percent of the Virginia Retirement System Board certified rate.
 
  FY FY
Nongeneral Fund $209,268 $209,268
•
Adjust appropriation for the centrally funded two percent salary increase for state employees Base Budget Adjustment
  Adjusts appropriation for the two percent salary increase for state employees budgeted in Central Appropriations, Item 467.P. of Chapter 665, 2015 Acts of Assembly.
 
  FY FY
Nongeneral Fund $149,220 $149,220
•
Adjust appropriation to accelerate the employer retirement contribution phase in schedule Base Budget Adjustment
  Adjusts appropriation for changes in employee retirement rates to 90 percent of the Virginia Retirement System Board certified rate budgeted in Central Appropriations, Item 467.U. of Chapter 665, 2015 Acts of Assembly.
 
  FY FY
Nongeneral Fund $117,148 $117,148
•
Adjust appropriation for centrally funded health insurance costs Base Budget Adjustment
  Adjusts appropriation for the employer’s share of health insurance premiums budgeted in Central Appropriations, Item 467.G. of Chapter 665, 2015 Acts of Assembly.
 
  FY FY
Nongeneral Fund $75,984 $75,984
•
Adjust appropriation for the centrally funded compression pay adjustment for state employees Base Budget Adjustment
  Adjusts appropriation for the compression pay adjustment for state employees budgeted in Central Appropriations, Item 467.Q. of Chapter 665, 2015 Acts of Assembly.
 
  FY FY
Nongeneral Fund $49,280 $49,280
•
Adjust appropriation for centrally funded state employee other post employment benefit rate changes Base Budget Adjustment
  Adjusts appropriation for changes in state employee other post employment benefit rates budgeted in Central Appropriations, Item 467.K.3. of Chapter 665, 2015 Acts of Assembly.
 
  FY FY
Nongeneral Fund $8,206 $8,206
•
Transfer appropriation for Investment, Trust and Related Services for inVEST and other savings programs Base Budget Adjustment
  Transfers $512,199 from General Management and Direction to the Investment, Trust and Related Services for Virginia529 inVEST Program and other Higher Education Savings Programs to align appropriation with historic expenditures.
•
Transfer appropriation for Investment, Trust and Related Services for Virginia529 prePAID Program Base Budget Adjustment
  Transfers $300,000 from General Management and Direction to the Investment, Trust and Related Services for Virginia529 prePAID Program to align appropriation with historic expenditures.
•
Increase appropriation to support increased payments for tuition and educational expense benefits Decision Package
  Increases the agency's nongeneral fund appropriation to support educational expense benefit payments for tuition and fees for the Virginia529 prePAID Program.
 
  FY FY
Nongeneral Fund $31,000,000 $67,000,000
•
Provide appropriation to support Achieving a Better Life Experience (ABLE) Program Decision Package
  Increases nongeneral fund appropriation to support five full-time equivalent positions dedicated to the program. This amendment also includes funding to support the program's operating costs.
 
  FY FY
Nongeneral Fund $2,827,838 $1,257,718
Positions 5.00 5.00
•
Increase operating expense funding Decision Package
  Implements an enterprise workflow solution to improve operational efficiencies, improve information technology data security, and protect customer data and transactional integrity. This amendment also includes nongeneral fund appropriation to expand media services.
 
  FY FY
Nongeneral Fund $1,369,247 $1,776,530
•
Expand communication and outreach efforts Decision Package
  Provides appropriation to support five full-time equivalent positions. The additional staff will expand the agency's media awareness campaigns to reach all major demographic markets.
 
  FY FY
Nongeneral Fund $505,442 $536,203
Positions 5.00 5.00
•
Create service area for Achieving a Better Life Experience (ABLE) Decision Package
  Establishes a service area under the agency's administrative program for the ABLE Program.
•
Realign service areas Decision Package
  Transfers appropriation for the Investment, Trust and Insurance Services to the Administrative and Support Services program. Maintaining separate prePAID and inVEST support service areas will continue the existing level of transparency.


p3_bullets - Official Enacted Budget - 11-02-2026 05:15:16