|

UC Borrowing Absent a State Budget

Byuclafaculty

UC, CSU, community college chiefs plead for quick budget passage (Excerpts)

Chancellors say that without a state budget, ‘We are operating with a blindfold on.’ The delay has already forced campuses to borrow money and threatened some students’ enrollment and financial aid.

By Larry Gordon, Los Angeles Times

August 28, 2010

The leaders of California’s three systems of public higher education made a joint plea Friday for quick passage of the much-delayed state budget, warning of negative consequences on campuses if the deadlock in Sacramento continues much longer…

UC and Cal State in effect are lending lower-income students the financial aid they were expecting to receive from the state’s Cal Grant program, the officials said. Cal Grant payments for the new school year are on hold pending passage of the budget…

Campuses are dipping into financial reserves or borrowing to cover the delayed state payments, the leaders said. The state is expected eventually to make its payments, but the UC system meanwhile pays the interest costs of borrowing and loses a return on reserves it otherwise might have invested, Yudof explained.

Financial experts estimated that the budget delay has cost UC about $14 million since July.

Full story at http://www.latimes.com/news/local/la-me-highered-20100828,0,2101596.story

Similar Posts

Faculty call for pause on budget & network security changes at UCLA

Byhigbie

Over 250 UCLA faculty, including a large number of department chairs and center directors, have written Chancellor Block with a detailed critique of plans for administrative centralization. The letter follows earlier exchanges between department chairs and Executive Vice Chancellor/Provost Emily Carter and other top administrators. “Although we appreciated the fora that EVC/P Carter recently organized in response to an earlier letter requesting more time to evaluate the re-organization plans she is proposing, we continue to feel that there has been insufficient time or detail to evaluate their consequences and that we have not been adequately involved in the consultation process,”…

|

Report: Affordable Public Higher Education is Possible Today

Byuclafaculty

A report this week from Reclaim California Higher Education (a coalition of faculty and student groups) makes the case that affordable (even free) higher education is within reach for California. The privatization experiment has failed. The harm to a generation of hard-working, high-aiming young people is proven. It’s time to return to what works: the proven Master Plan for higher education in California. California, with its own resources, can afford to restore top-quality, accessible, affordable college and university opportunity to every qualified student. In fact, Californians can afford nothing less. You can read a summary and download the entire report…

| |

Jerry Brown Suggests Master Plan is Dated

Byuclafaculty

Our previous post covered the Jan. 22 meeting of the Regents’ Committee on Educational Policy.  As noted, there was discussion of the 1960 Master Plan for Higher Education, considered a major accomplishment of Brown’s father when he was governor. Below is a link to Brown’s comments in which he suggested the Plan was now dated.  [youtube http://www.youtube.com/watch?v=3RmjI4gVync?feature=player_detailpage]

| | | | | | | | |

Tradition!

Byuclafaculty

The Legislative Analyst’s Office (LAO) has issued a report on UC and CSU funding.  LAO is usually viewed as a neutral agency.  But it is a component of the legislature.  So it tends to favor approaches that add to legislative control as opposed to, say, gubernatorial control.  This report is no exception. LAO seems to want to return to what it terms the “traditional” approach to funding, but with bells and whistles added to monitor legislative goals.  The traditional approach seems to be one focused on undergraduate enrollment.  But in fact the tradition – such as it is – has…

|

7 Wasn’t So Lucky

Byuclafaculty

The cash statement from the California state controller for the first seven months of fiscal year 2013-14 is out.  Revenues are up about 1% from last year at this time.  That gain is not very good.  However, it may be largely due to an aberration last fiscal year when there was a surge of personal income tax revenue in January 2013.  The surge seemed to have something to do with antics back then in Washington over fiscal cliffs, etc., which might have resulted in some tax changes (but didn’t).  The current DC crisis de jour is the debt ceiling, but…