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Restructuring Act of 2005

Overview of Restructured Higher Education Financial and Administrative Operations Act of 2005

Introduced in 2004, the Commonwealth Chartered Universities and Colleges Act failed to pass during the 2004 General Assembly Session, but provided a framework for the Restructured Higher Education Financial and Administrative Operations Act of 2005 (Restructuring Act).

The Restructuring Act provided a set of basic operational autonomy for all institutions and specified that tuition and fee responsibility reside with the institution Boards of Visitors. The Restructuring Act required a formal commitment by the Boards of Visitors to the “state asks.” Institutions earn financial incentives based on meeting performance standards. In addition, there are opportunities for greater institutional autonomy through “memoranda of understanding” and “management agreements.”

The institution Boards of Visitors committed to 12 state goals – “state asks” – by formal resolution in 2005:

  1. Access
  2. Affordability
  3. Academic offerings
  4. Academic standards
  5. Student progress and success
  6. Articulation and dual enrollment
  7. Economic development
  8. Research
  9. Enhancing K12
  10. Six-year plans
  11. Finance and administrative
  12. Campus safety and security

Documents Related to the Restructuring Act

The Restructured Higher Education Financial and Administrative Operations Act of 2005 (Restructuring Act)
Senate Joint Resolution 90
Administrative and Financial Relationships Between the Commonwealth and its Institutions of Higher Education - 2005
Restructuring Act - 2005
Restructuring Act - 2006 Amendment
Restructuring Act - 2008 Amendment
Restructuring Act - 2009 Amendment
Eligibility for restructured financial and administrative operational authority and financial benefits (§ 23.1-1002 Code of Virginia)

Documents Related to the Levels of Authority

Management Agreements for the College of William and Mary, the University of Virginia, and Virginia Tech - 2006
Management Agreement for Virginia Commonwealth University - 2008
Management Agreements (Amended) - 2009
Management Agreement (Amended for UVA) - 2011
Management Agreement (Amended for CWM) - 2013
Management Agreements (§ 23.1-1004 through § 23.1-1028 Code of Virginia outlining institutional authority under management agreements)
Level II Memoranda of Understanding (§ 23.1-1003 Code of Virginia outlining requirements for Level II institutions)

Presentations

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Restructuring Subcommittee Meeting Documents

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