The 2014 Executive Budget Document
Governor McDonnell's Proposed Budget for the 2014-2016 Biennum
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Released on December 16, 2013 
 
Innovation and Entrepreneurship Investment Authority [934]
Secretarial Area: Commerce and Trade
formerly under: Technology
Mission:
The Innovation and Entrepreneurship Investment Authority (IEIA), carries out its mission through an operating non-profit called the Center for Innovative Technology (CIT).  CIT accelerates the next generation of technology and technology companies.
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.
more...
Biennium Fiscal Year Source GF NGF Total
2008-2010 2009 Chapter 872, 2010 Acts of Assembly $5,295,878 $0 $5,295,878
2008-2010 2010 Chapter 872, 2010 Acts of Assembly $4,111,460 $0 $4,111,460
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 Governor's Proposed Budget $11,215,126 $0 $11,215,126
    Base Budget $8,282,500 $0 $8,282,500
    Addenda (Changes to the Base) $2,932,626 $0 $2,932,626
2014-2016 2016 Governor's Proposed Budget $11,226,465 $0 $11,226,465
    Base Budget $8,282,500 $0 $8,282,500
    Addenda (Changes to the Base) $2,943,965 $0 $2,943,965
Positions Budget Summary
Biennium Fiscal Year Source GF NGF Total
2008-2010 2009 Chapter 872, 2010 Acts of Assembly 0.00 0.00 0.00
2008-2010 2010 Chapter 872, 2010 Acts of Assembly 0.00 0.00 0.00
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 Proposed Positions 0.00 0.00 0.00
    Base Budget 0.00 0.00 0.00
    Addenda (Changes to the Base) 0.00 0.00 0.00
2012-2014 2016 Proposed Positions 0.00 0.00 0.00
    Base Budget 0.00 0.00 0.00
    Addenda (Changes to the Base) 0.00 0.00 0.00
Operating Budget Addenda (in order of greatest impact)
•
Appropriate GAP program funding in IEIA Base Budget Adjustment
  Adjusts the IEIA (934) 2014-16 biennial budget to include the $3.2 million in GAP funding which is annually transferred to IEIA from Economic Development Incentive Payments (312). See Chapter 806, Item 105 L.
 
  FY 2015 FY 2016
General Fund $3,200,000 $3,200,000
•
Eliminate general fund appropriation for cyber accelerator program Decision Package
  Eliminates one-time funding for cyber accelerator program.
 
  FY 2015 FY 2016
General Fund ($2,500,000) ($2,500,000)
•
Provide funding for Broadband planning and assistance to localities Decision Package
  Provides support for the Center for Innovative Technology to assist localities with the process of bringing wired broadband connectivity to the population of Virginians who currently lack such access to the internet.
 
  FY 2015 FY 2016
General Fund $1,048,253 $1,048,253
•
Support the cyber security and cyber data analytics industries Decision Package
  Increases funding for cyber security and cyber data analytics. The analytics will identify strategies to bring cyber security related jobs and industries to Virginia.
 
  FY 2015 FY 2016
General Fund $500,000 $500,000
•
Increase funding to the Growth Accelerator Program Decision Package
  Provides additional funding for the Growth Accelerator Program (GAP) to increase the number of eligible companies served.
 
  FY 2015 FY 2016
General Fund $500,000 $500,000
•
Conduct Modeling and Simulation initiatives Decision Package
  Provides additional support for research and programmatic activities, as well as fostering the growth and diversification within the Commonwealth’s initiatives in modeling and simulation. Funding will expand modeling and simulation into new activities including, but not limited to, health care, advanced manufacturing, and unmanned systems.
 
  FY 2015 FY 2016
General Fund $250,000 $250,000
•
Distribute Central Appropriation amounts to agency budgets Base Budget Adjustment
  Adjusts the agency budget to reflect amounts moved to or from Central Appropriations to cover the continued cost of public employee salary increases, increases in state employee health insurance premiums, changes in state employee retirement and other benefit contribution rates, and other centrally funded items being continued from the 2012-14 biennium into the 2014-16 biennium.
 
  FY 2015 FY 2016
General Fund ($67,500) ($67,500)
•
Adjust funding to agencies for information technology and telecommunication charges Decision Package
  Adjusts the agency budget for information technology and telecommunication charges based on the required cost of living adjustments contained in the Northrop Grumman contract and the elimination of the debt recovery surcharge originally approved by the Joint Legislative Audit and Review Commission on July 12, 2010.
 
  FY 2015 FY 2016
General Fund $1,054 $12,393
•
Adjust agency appropriation for the cost of Performance Budgeting system charges Decision Package
  Provides appropriation to pay for the agency's share of ongoing Performance Budgeting system operating and maintenance costs. The general fund share of this cost was previously budgeted in Central Appropriations.
 
  FY 2015 FY 2016
General Fund $819 $819


pdocagy2014 - Executive Budget Document Agency Details - 06-07-2025 02:00:27