August 26, 2014 > California State University outlines budget
California State University outlines budget
Submitted By Stephanie Thara
At their July 2014 Board Meeting, California State University Trustees reviewed the systemÕs 2014-15 budget expenditure plan. With an additional $142.2 million in General Fund allocation from the state, the plan prioritizes enrollment growth, student success and completion, employee compensation and critical infrastructure needs.
CSU campuses continue to receive record numbers of applications and funding from the 2014-15 budget will provide access for approximately 9,900 new students across the system. The CSU will also allocate funding for student achievement initiatives that scale best practices or develop new strategies to bolster system-wide efforts to improve student success, minimize time to degree and further narrow achievement gaps for underserved students.
The CSU plans to allocate funding towards a compensation pool to provide salary increases for the systemÕs 45,000 employees. The final amount of any employee compensation increase will be negotiated through the collective bargaining process.
Along with a modest 1.34 percent increase for all employees in the 2013-14 budget, the current compensation pool would mark just the second compensation increase for all CSU employees since 2007-08.
The 2014-15 budget also provides the CSU with new statutory authority to address long-standing facility needs either through a new capital financing program as part of the existing system-wide revenue bond (SRB) program or a separate stand-alone debt program.