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Budget Update – July 13, 2012

PostPosted: Fri Jul 13, 2012 12:31 pm
by madona
The CSU Board of Trustees meets on Tuesday, July 17, to discuss our budget options, including alternatives to begin addressing the $250 million “trigger” cut should the governor’s initiative fail in November. If that becomes reality, the board faces some very difficult choices to deal with the trigger, and the alternatives will involve shared pain for everyone.

Trustees will be provided information on several options to begin the discussion. It is not anticipated they will take any action on budget options until the next meeting in September.

Options that will be presented to the board on Tuesday include a $150 per semester tuition fee increase if the governor’s initiative fails, a 2.5% to 5.25% percent pay and benefit reduction for all faculty, staff and administrators and enrollment reductions. In addition, the board will also consider using prior year savings and new strategies to encourage students to complete their degree in a timelier manner, with fewer excess units and to ensure access to courses for more students.

If you would like to review the entire board agenda, click here. Details about the budget alternatives are in the Finance Committee report.

I will keep our campus community informed with updates as they are available.