We continue to upload and archive the recent Regents
meeting. Since we have reported and
provided an excerpt of the morning meeting of Nov. 19 at which the Regents
approved their tuition/funding plan, we provide here the afternoon
meeting. It has the virtue of being
shorter than the morning meeting and yours truly is traveling at the moment,
making recording more difficult than usual.
The afternoon meeting actually had a continuation of the
morning meeting in that there was a supplementary tuition/funding plan related
to professional degrees. Issues were
raised about the resident vs. non-resident gap in total costs. It was also noted that some professional
fields, e.g., social work, do not result in high-paid careers.
It was argued by UC that going along with the governor’s
budget plan would harm diversity and access goals. However, the UC student assn. prez spoke
against tuition increases and wanted student input into the governor’s proposed
joint commission (if there is one).
The Committee on Finance approved the proposed operating
budget plan for 2015-16. There was note
taken of the Legislative Analyst’s report indicating that there was more state
revenue coming in than originally forecast.
As per our previous post, when it was asserted by the lieutenant
governor that UC had broken a deal with the governor on a tuition freeze, VP
Patrick Lenz refuted the notion that there ever was a written compact. Efforts to come to a written deal did not
produce one.
UCLA Chancellor Block noted that there were limits to how
high out-of-state tuition could be due to issues of competitiveness with other
institutions. Finally, various financial
reports were received, including a valuation of the UC pension. On an “actuarial” (moving average) basis, the
plan was 79% funded as of last July 1.
On a market basis – thanks to good performance of financial markets –
the ratio was 87%. Retiree health is not
pre-funded and essentially is zero percent funded.
You can hear this session at the link below:
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