The Legislative Analyst's Office (LAO) has produced a report for a legislative committee studying the Master Plan. The chart above tells you a lot. (We have added the arrow.) Core funding is state money plus tuition. Note that the tuition shown includes only that of state residents. UC also collects tuition from non-residents at a higher rate. In inflation-adjusted dollars, UC has had a per-student cut of over $10,000 since the Master Plan was created. It roughly made up for that cut by raising tuition. That's the story. In the end, it's not so complicated.