In a Tuesday statement, UC Santa Cruz Chancellor Cynthia Larive said the 2024 fiscal year deficit was larger than officials initially projected. University officials said the campus will have to move forward with staff reductions but they didn’t provide details on how many or when.
UC Santa Cruz Chancellor Cynthia Larive on Tuesday said in a campus message that fiscal year 2024 closed with a larger deficit than expected, at $107 million, and that university officials are expecting another large deficit this year. “To fully address our budget shortfall, we will need to take additional steps this fiscal year, as well as in future years, to further reduce expenditures,” she wrote in the statement.
The university has used money in its reserves to ease past deficits, but because those reserves are now diminishing, Larive said campus officials will have to slow down hiring, not fill vacancies and implement layoffs, among other cost-cutting measures...
Full story at https://lookout.co/ucsc-chancellor-says-budget-deficit-larger-than-expected-layoffs-underway/.
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*https://uclafacultyassociation.blogspot.com/2024/08/santa-cruz-as-bellwether.html.
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