Virginia Code 23.1-1243: Annual report
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The Secretary of Finance, in consultation with the other designated reviewers, shall submit a report by December 1 of each year to the Chairmen of the House Committee on Appropriations and the Senate Committee on Finance and Appropriations. Such report shall provide an update as to the progress of each qualified institution in meeting the goals set forth in its memorandum of understanding and the aggregate amount of grants awarded to the qualified institution pursuant to this chapter.
Terms Used In Virginia Code 23.1-1243
- Designated reviewers: means the Secretaries of Education and Finance, the director of the Department of Planning and Budget, the director of the Council, the president of the Virginia Economic Development Partnership, and the staff directors of the House Committee on Appropriations and the Senate Committee on Finance and Appropriations, or their designees. See Virginia Code 23.1-1239
- Memorandum of understanding: means the negotiated instrument entered into by a qualified institution and the Commonwealth, regardless of whether the terms of the memorandum of understanding are encompassed or included within any other institutional partnership or performance agreement required by law. See Virginia Code 23.1-1239
- Qualified institution: means (i) any associate-degree-granting public institution of higher education, as defined in § Virginia Code 23.1-1239