One persistent suggestion is that we dip into "rainy day" reserve funds scattered throughout the system’s 10 campuses. Surely, proponents argue, this is a rainy day. Unfortunately, it’s not so simple. A large portion of these reserves, in fact, were created for specific academic and research initiatives. Other funds in this category function as endowments dedicated to specific uses, which cannot be altered. Finally, some funds have been set aside to support university operations and repay principal and interests on bonds. There’s also the question of what lies ahead. If state funding continues to decline and federal stimulus dollars dry up, we will face an even worse scenario in fiscal year 2010-11.

Read full article [here].
by Russell S. Gould and Mark Yudof, The San Francisco Chronicle.

Posted: July 14th, 2009, by: admin. Categories: . Awaiting Comments.