Innovation and Entrepreneurship Investment Authority [934]
Secretarial Area: Commerce and Trade
formerly under: Technology
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 $4,473,512 $0 $4,473,512
2010-2012 2012 Chapter 2, 2012 Acts of Assembly $4,973,750 $0 $4,973,750
2012-2014 2013 Chapter 1, 2014 Acts of Assembly $5,926,877 $0 $5,926,877
2012-2014 2014 Chapter 1, 2014 Acts of Assembly $8,282,500 $0 $8,282,500
2014-2016 2015 Chapter 732, 2016 Acts of Assembly $8,510,873 $0 $8,510,873
2014-2016 2016 Chapter 732, 2016 Acts of Assembly $8,232,562 $0 $8,232,562
2016-2018 2017 Chapter 780, 2016 Appropriation Act $11,538,090 $0 $11,538,090
2016-2018 2017 Base Budget $8,232,562 $0 $8,232,562
2016-2018 2017 Governor's Amendments $155,528 $0 $155,528
2016-2018 2017 General Assembly Adjustments $3,150,000 $0 $3,150,000
2016-2018 2018 Chapter 780, 2016 Appropriation Act $11,438,097 $0 $11,438,097
2016-2018 2018 Base Budget $8,232,562 $0 $8,232,562
2016-2018 2018 Governor's Amendments $155,535 $0 $155,535
2016-2018 2018 General Assembly Adjustments $3,050,000 $0 $3,050,000
Positions Budget Summary
Biennium Fiscal Year Source GF NGF Total
2010-2012 2011 Chapter 2, 2012 Acts of Assembly 0.00 0.00 0.00
2010-2012 2012 Chapter 2, 2012 Acts of Assembly 0.00 0.00 0.00
2012-2014 2013 Chapter 1, 2014 Acts of Assembly 0.00 0.00 0.00
2012-2014 2014 Chapter 1, 2014 Acts of Assembly 0.00 0.00 0.00
2014-2016 2015 Chapter 732, 2016 Acts of Assembly 0.00 0.00 0.00
2014-2016 2016 Chapter 732, 2016 Acts of Assembly 0.00 0.00 0.00
2016-2018 2017 Chapter 780, 2016 Appropriation Act 0.00 0.00 0.00
2016-2018 2017 Base Budget 0.00 0.00 0.00
2016-2018 2017 Governor's Amendments 0.00 0.00 0.00
2016-2018 2017 General Assembly Adjustments 0.00 0.00 0.00
2016-2018 2018 Chapter 780, 2016 Appropriation Act 0.00 0.00 0.00
2016-2018 2018 Base Budget 0.00 0.00 0.00
2016-2018 2018 Governor's Amendments 0.00 0.00 0.00
2016-2018 2018 General Assembly Adjustments 0.00 0.00 0.00
Operating Budget Addenda (in order of greatest impact)
•
Distribute savings to agency budgets Base Budget Adjustment
  Moves savings budgeted centrally in Paragraph A, Item 471.10, Chapter 665, 2015 Acts of Assembly from Central Appropriations to the individual budgets of state agencies.
 
  FY FY
General Fund ($576,279) ($576,279)
•
Adjust appropriation for changes in information technology costs Base Budget Adjustment
  Adjusts appropriation for the changes in information technology costs budgeted in Central Appropriations, Items 468.M. and 470.B. of Chapter 665, 2015 Acts of Assembly.
 
  FY FY
General Fund ($18,888) ($18,888)
•
Adjust appropriation for the centrally funded increase in internal service fund costs due to salary adjustments Base Budget Adjustment
  Adjusts appropriation to agencies to offset increases in internal service fund costs due to the salary and benefit adjustments in Chapter 665, 2015 Acts of Assembly.
 
  FY FY
General Fund $496 $496
•
Enhance cyber threat information sharing efforts Decision Package
  Provides support for the development of an Information Sharing and Analysis Organization to enhance cyber threat information sharing across the private sector, state government entities, localities, and federal government.
 
  FY FY
General Fund $750,000 $750,000
•
Adjust appropriation for the costs of the new Cardinal financial system Decision Package
  Reflects the agency's share of the costs of the new Cardinal accounting system. The Department of Accounts allocates the yearly cost of the system to agencies based upon the number of transactions the agency completed in the previous fiscal year.
 
  FY FY
General Fund $199 $206
•
Transfer administration of Commonwealth Research Commercialization Fund to the Center for Innovative Technology General Assembly Adjustment
  This amendment transfers administration of the Commonwealth Research Commercialization Fund to the the Center for Innovative Technology.
 
  FY FY
General Fund $2,800,000 $2,800,000
•
Unmanned Systems Commercial Center of Excellence General Assembly Adjustment
  This amendment provides a total of $850,000 from the general fund in the biennium for further advancing the development of the unmanned aerial systems industry in Virginia.
 
  FY FY
General Fund $350,000 $500,000
•
Phase-in ISAO General Assembly Adjustment
  This amendment phases-in the new Information Sharing and Analysis Organization.
 
  FY FY
General Fund ($500,000) ($250,000)
•
Funding for the MACH37 Cyber Accelerator General Assembly Adjustment
  This amendment provides $0.5 million from the general fund in the first year for continued support of the MACH37 Cyber Accelerator program. The program, created in 2013, is designed to bring cyber security entrepreneurs to the Commonwealth and assist in the launch of start up companies. Thus far, 29 new companies have been started.
 
  FY FY
General Fund $500,000 $0
•
Declaration of Surplus Property General Assembly Adjustment
  This amendment authorizes the sale of Commonwealth owned real estate, with the proceeds dedicated to the Virginia Research Investment Fund.


p3_bullets - Official Enacted Budget - 06-04-2025 00:08:07