RICHMOND — Virginia Baptists will be asked this week to approve a 2008 budget that offers a new way to fund their educational institutions.
The changes are part of the proposed Baptist General Association of Virginia budget of $14,360,000 — a slight increase over this year's $14,200,000 budget goal. The BGAV budget committee unveiled its proposal during the Oct. 9-10 meeting of the Virginia Baptist Mission Board. Though the budget committee is constitutionally required to present its budget to the Mission Board for “information and counsel,” the board does not vote on the financial document.
New in the 2008 budget is a proposal to reduce direct allocations to the BGAV's affiliated academies and colleges, while offering scholarships to students who attend the schools. In addition, the budget committee is suggesting the creation of a student and ministry formation scholarship fund, which would assist students at any college or seminary.
The change was initiated by the Mission Board's emerging leaders subcommittee, which named a task force to study the issue, and was developed in conversations among key leaders of the Mission Board and the budget committee.
“The key question is, Do we want to continue to support institutional entities or do we want to support individual students as we look to the future?” according to a FAQ sheet distributed by the student scholarship study committee. “Instead of answering this question with an either/or response, we want to answer it with a both/and response. The BGAV wants to remain strong partners with our schools and academies, but also expand our support to students who choose to receive their education in other colleges or universities. We want to emphasize our support for the next generation of future leaders of Virginia Baptists.”
The proposed budget reduces direct allocations to the BGAV's two affiliated colleges, to one of its three preparatory academies, to the John Leland Center for Theological Studies. The other two academies will receive the same amount as this year. All six of the schools have specific scholarship allocations, which may be used by students who choose to attend the schools:
• Bluefield College is allocated $100,000, down from its current $307,000 allocation, and $50,000 in potential scholarship funds.
• Virginia Intermont College, $50,000, down from $142,000, and $10,000 in scholarships.
• Fork Union Military Academy, $10,000, the same amount as this year, and $10,000 in scholarships.
• Hargrave Military Academy, $10,000, the same amount as this year, and $10,000 in scholarships.
• Oak Hill Academy, $90,000, down from $110,000, and 10,000 in scholarships.
• John Leland Center, $100,000, down from $165,000, and $50,000 in scholarships.
The student and ministry formation scholarships, a new line item in the proposed budget, would allocate $143,600 for student scholarships and 107,700 for a scholarship endowment fund. Students attending any college or seminary may apply for the funds, which will be administered by the Mission Board's ministerial education committee.
The committee will continue to employ its current criteria for awarding scholarships, but with the proposed funds will give priority first to the BGAV's existing educational partners and secondly to public and private colleges and universities approved by the Mission Board.