Audit Results to be Presented at Regents

Page 10 of audit report [click on image for clearer view]

At the upcoming Regents meeting, there will be a presentation of the annual audit report through fiscal year 2011-12 (the year ending June 30, 2012).  Among other things, it reports a $26 billion budget for what the auditor calls core activities, as can be seen above.  This audit definition of "core" should not be confused with the similar term used in the state budget for UC which refers only to basic teaching activities and is essentially the state appropriation plus tuition (roughly one out of five dollars in the budget above).  The audit shows a $2 billion loss in fiscal 2011-12 and smaller losses for the two preceding years.  Will this outcome spark some discussion at the Regents?  The full audit report is at:

http://regents.universityofcalifornia.edu/regmeet/mar13/a10.pdf and

http://regents.universityofcalifornia.edu/regmeet/mar13/a10attach.pdf