On Tuesday we published a bit of (maybe) cheery state budget news.* But that pertains to the future. And this is now:
From Lookout Santa Cruz: UC Santa Cruz is facing a challenging budget year and will potentially have to announce layoffs in the coming weeks as rising employee costs, drying out pandemic-era funds and stagnant revenue – partially due to its limits to growing enrollment in housing-challenged Santa Cruz – caused a more than $100 million deficit for fiscal year 2024.
UCSC chief financial officer Ed Reiskin said he and the budget office are finalizing plans for a $17 million reduction to the school’s fiscal year 2024-25 budget.
Part of that $17 million will come from finding different funding sources to cover some staff positions. But ultimately, an undetermined number of positions at UC Santa Cruz will likely need to be eliminated. Reiskin said he thinks the university’s budget office will know how many layoffs they’ll have to make in a week or so...
UCSC’s budget is just over $1 billion for the upcoming fiscal year and it had about 17,800 undergraduate students this past fall. University officials expect enrollment will be around the same this fall...
“I meet with my counterparts from the other UCs, and I think everyone is dealing with some level of structural deficit,” he said...
Full story at https://lookout.co/uc-santa-cruz-facing-budget-cuts-layoffs-likely/.
===
*https://uclafacultyassociation.blogspot.com/2024/08/a-little-cheer.html.
No comments:
Post a Comment