The 2022 Executive Budget Document
Governor Northam's Proposed Budget for the 2022-2024 Biennum
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Released on December 16, 2021 
 
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
2016-2018 2017 Chapter 1, 2018 Acts of Assembly $0 $241,398,915 $241,398,915
2016-2018 2018 Chapter 1, 2018 Acts of Assembly $0 $277,266,839 $277,266,839
2018-2020 2019 Chapter 1283, 2020 Acts of Assembly $0 $280,517,037 $280,517,037
2018-2020 2020 Chapter 1283, 2020 Acts of Assembly $0 $280,120,929 $280,120,929
2020-2022 2021 Chapter 1, 2022 Acts of Assembly $0 $285,933,169 $285,933,169
2020-2022 2022 Chapter 1, 2022 Acts of Assembly $0 $287,084,735 $287,084,735
2022-2024 2023 Governor's Proposed Budget $0 $300,585,338 $300,585,338
    Base Budget $0 $287,084,735 $287,084,735
    Addenda (Changes to the Base) $0 $13,500,603 $13,500,603
2022-2024 2024 Governor's Proposed Budget $0 $302,270,249 $302,270,249
    Base Budget $0 $287,084,735 $287,084,735
    Addenda (Changes to the Base) $0 $15,185,514 $15,185,514
Positions Budget Summary
Biennium Fiscal Year Source GF NGF Total
2016-2018 2017 Chapter 1, 2018 Acts of Assembly 0.00 115.00 115.00
2016-2018 2018 Chapter 1, 2018 Acts of Assembly 0.00 115.00 115.00
2018-2020 2019 Chapter 1283, 2020 Acts of Assembly 0.00 115.00 115.00
2018-2020 2020 Chapter 1283, 2020 Acts of Assembly 0.00 115.00 115.00
2020-2022 2021 Chapter 1, 2022 Acts of Assembly 0.00 125.00 125.00
2020-2022 2022 Chapter 1, 2022 Acts of Assembly 0.00 125.00 125.00
2022-2024 2023 Proposed Positions 0.00 150.00 150.00
    Base Budget 0.00 125.00 125.00
    Addenda (Changes to the Base) 0.00 25.00 25.00
2012-2014 2024 Proposed Positions 0.00 150.00 150.00
    Base Budget 0.00 125.00 125.00
    Addenda (Changes to the Base) 0.00 25.00 25.00
Operating Budget Addenda (in order of greatest impact)
•
Provide appropriation for higher education access and affordability programs Decision Package
  Expands access to post-secondary education and provides mentoring and coaching support for under-represented and under-served Virginians seeking post-secondary education. This amendment also transfers $2.0 million appropriation provided for SOAR to the newly-established Higher Education Access and Affordability Programs service area.
 
  FY 2023 FY 2024
Nongeneral Fund $8,000,000 $8,000,000
•
Fund operating expenses Decision Package
  Increases nongeneral fund appropriation both years. This amendment funds the agency's ongoing operating expenses, including cyber security enhancements, information technology upgrades, and comprehensive compensation plan.
 
  FY 2023 FY 2024
Nongeneral Fund $1,525,044 $3,139,482
•
Operate state-facilitated individual retirement account (IRA) savings program Decision Package
  Provides nongeneral fund appropriation and positions to operate state-facilitated IRA savings program. This amendment also amends language to authorize a working capital advance to cover the costs of designing, implementing, and managing the program. This program is authorized pursuant to Chapter 556 of the Acts of Assembly of 2021, Special Session I.
 
  FY 2023 FY 2024
Nongeneral Fund $2,000,000 $2,000,000
Positions 3.00 3.00
•
Support operational growth and manage cyber security operations Decision Package
  Increases nongeneral fund appropriation to fund customer service and cyber security positions. These positions will ensure customer account inquiries are addressed, process transactions in a timely manner, and provide technical support for protecting the agency against data breaches and cyber fraud incidents.
 
  FY 2023 FY 2024
Nongeneral Fund $1,342,201 $1,412,674
Positions 22.00 22.00
•
Adjust appropriation for centrally funded five percent salary increase for state employees Base Budget Adjustment
  Adjusts appropriation for the five percent salary increase for state employees budgeted in Central Appropriations, Item 477 X. of Chapter 552, 2021 Acts of Assembly, Special Session I.
 
  FY 2023 FY 2024
Nongeneral Fund $538,161 $538,161
•
Adjust appropriation for centrally funded retirement rate changes Base Budget Adjustment
  Adjusts appropriation for changes to contribution rates for state employee retirement plans budgeted in Central Appropriations, Item 477 H. of Chapter 552, 2021 Acts of Assembly, Special Session I.
 
  FY 2023 FY 2024
Nongeneral Fund $80,854 $80,854
•
Adjust appropriation for centrally funded changes to state health insurance premiums Base Budget Adjustment
  Adjusts appropriation for the employer’s share of health insurance premiums budgeted in Central Appropriations, Item 477 G. of Chapter 552, 2021 Acts of Assembly, Special Session I.
 
  FY 2023 FY 2024
Nongeneral Fund $49,014 $49,014
•
Adjust appropriation for centrally funded changes to agency information technology costs Base Budget Adjustment
  Adjusts appropriation for changes to information technology and telecommunications usage budgeted in Central Appropriations, Item 478 C. of Chapter 552, 2021 Acts of Assembly, Special Session I.
 
  FY 2023 FY 2024
Nongeneral Fund ($30,091) ($30,091)
•
Adjust appropriation for centrally funded changes to Cardinal Financials System charges Base Budget Adjustment
  Adjusts appropriation for changes to Cardinal Financials System internal service fund charges budgeted in Central Appropriations, Item 478 F. of Chapter 552, 2021 Acts of Assembly, Special Session I.
 
  FY 2023 FY 2024
Nongeneral Fund ($25,316) ($25,316)
•
Adjust appropriation for centrally funded changes to Cardinal Human Capital Management System charges Base Budget Adjustment
  Adjusts appropriation for changes to Cardinal Human Capital Management System internal service fund charges budgeted in Central Appropriations, Item 478 G. of Chapter 552, 2021 Acts of Assembly, Special Session I.
 
  FY 2023 FY 2024
Nongeneral Fund $21,516 $21,516
•
Adjust appropriation for centrally funded changes to Performance Budgeting system charges Base Budget Adjustment
  Adjusts appropriation for changes to Performance Budgeting system internal service fund charges budgeted in Central Appropriations, Item 478 H. of Chapter 552, 2021 Acts of Assembly, Special Session I.
 
  FY 2023 FY 2024
Nongeneral Fund ($2,926) ($2,926)
•
Adjust appropriation for centrally funded workers’ compensation premium changes Base Budget Adjustment
  Adjusts appropriation for workers’ compensation premiums budgeted in Central Appropriations, Item 477 R. of Chapter 552, 2021 Acts of Assembly, Special Session I.
 
  FY 2023 FY 2024
Nongeneral Fund $1,692 $1,692
•
Adjust appropriation for centrally funded state employee other post-employment benefit rate changes Base Budget Adjustment
  Adjusts appropriation for changes to state employee other post-employment benefit rates budgeted in Central Appropriations, Item 477 K. of Chapter 552, 2021 Acts of Assembly, Special Session I.
 
  FY 2023 FY 2024
Nongeneral Fund $858 $858
•
Adjust appropriation for centrally funded internal service fund charges for the Personnel Management Information System Base Budget Adjustment
  Adjusts appropriation for Personnel Management Information System internal service fund charges budgeted in Central Appropriations, Item 478 I. of Chapter 552, 2021 Acts of Assembly, Special Session I.
 
  FY 2023 FY 2024
Nongeneral Fund ($594) ($594)
•
Adjust appropriation for centrally funded general liability premium charges Base Budget Adjustment
  Adjusts appropriation for general liability premiums billed by the Department of the Treasury’s Division of Risk Management budgeted in Central Appropriations, Item 478 J. of Chapter 552, 2021 Acts of Assembly, Special Session I.
 
  FY 2023 FY 2024
Nongeneral Fund $190 $190
•
Transfer funding for the SOAR program to correct service area Base Budget Adjustment
  Transfers funding for the SOAR program from Investment, Trust and Related Services for Prepaid529 Program to Trust and Related Services for Invest529 Program and other Higher Education Savings Programs.
•
Manage Education Savings Programs Decision Package
  Creates a new service area to track administrative and support costs associated with managing all Education Savings Programs. This amendment transfers appropriation from Investment, Trust and Related Services for Prepaid529 Program and Trust and Related Services for Invest529 Program and other Higher Education Savings Programs to the newly-established Investment, Trust and Related Services for Defined Benefit 529 Programs and other Education Savings Programs service area.


pdocagy2014 - Executive Budget Document Agency Details - 04-04-2026 08:54:21