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Thursday, November 14, 2024

Money Shortage

We will be posting about this week's Regents meetings as time permits. The Good News is that we can now upload to the Internet Archive again after the cyber attack about which we have posted. So we can continue preserving recordings of Regents meetings. The Bad News is that the Internet Archive is not fully back to what it was. It sometimes becomes unavailable and - once something is successfully posted - no corrections (typos, etc.) can be entered thereafter. But we will persevere. And here is a preview of what the Regents were discussing from the LA Times:

The University of California wants to enroll nearly 3,600 more California students in the next academic year but is bracing for a looming budget crunch that could make it difficult to pay for increased enrollment. UC officials told regents Wednesday that the 10-campus university system could face a $504.7-million financial shortfall in 2025-26 if the state makes good on warnings earlier this year to reduce higher education funding as it grapples with a budget deficit. Lower state funding, along with higher costs primarily driven by faculty and staff pay increases, larger retirement plan contributions and more expensive healthcare, are projected to create that yawning UC budget hole.

“We’re facing a really tough budget year from the state,” Chief Financial Officer Nathan Brostrom told regents, who are meeting in San Francisco this week...

[The question is] is whether UCLA, UC Berkeley and UC San Diego will still give an additional 902 California students highly coveted seats in place of out-of-state and international students if the state cuts back funding that offsets the loss of the higher tuition that nonresidents pay...

Full story at https://www.latimes.com/california/story/2024-11-14/uc-wants-to-enroll-3-600-more-california-students-next-year-but-may-hit-funding-shortfalls.

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