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Budget Update

Budget Update. 2008-09 California State Budget. Revenue Assumptions 14.5 Billion statewide deficit for the 2008-2009 budget year Spending is down Voter initiatives. 2008-09 CSU Budget Request. Mandatory Costs $36.0 M Enrollment Growth (2.5%) $82.5 M Compensation $154.3 M

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Budget Update

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  1. Budget Update

  2. 2008-09 California State Budget Revenue Assumptions • 14.5 Billion statewide deficit for the 2008-2009 budget year • Spending is down • Voter initiatives

  3. 2008-09 CSU Budget Request • Mandatory Costs $36.0 M • Enrollment Growth (2.5%) $82.5 M • Compensation $154.3 M • Financial Aid $6.8 M • Long Term Need $43.0 M • Fee Revenue ($34.4 M) Compact funding total $288.2 M • Above Compact $155.2 M Total Funding $443.4M

  4. Impact of Governor’s Budget • CSU State General Fund Reduction ($312.9) M • Student Fee Increase Buy-out ($73.2) M • Total Impact to CSU Budget ($386.1) M

  5. 2008-09 HSU Budget • Additional Revenues $3 M • New Expenditures – compensation, CMS costs, utilities, maintenance, state university grant, etc ($2-4) M • Governor’s Reduction (4) M • Assumptions for Campus Reduction ($3) M

  6. Next Steps • HSU must plan for a reduction • President and Vice Presidents will work to identify a targeted reduction plan • Present the reduction plan to the UBC and other campus committees • HSU must plan a strategy to provide classes for its students

  7. Next Steps • CSU will issue campus-specific budgets late first week of February • Governor’s May revised budget – late May • More legislative debate – May and June • Final budget due by July 1

  8. Summary • Governor’s budget only funds CSU for the current, 2007-2008 enrollment level • Does not fund any cost increases

  9. Summary • The proposed budget will not allow the CSU to serve all qualified students, reduces access to college • Long term prospects of increasing college going rates of underserved communities will be negatively impacted just as we are making real progress • Less access to the CSU will impact industries and the state’s economy given our role in preparing the state’s workforce

  10. Questions?

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