The May Budget Revision: UC Budget Goes from Bad to Worse
I'm sorry to rain on the parade, but even though the state continues to recover, UC does not. In November 2014, Gov. Brown offered UC a 4 percent increase in state funding, or $119.5 million. The UC Regents countered with their famous 5 percent tuition increase, which would have added another $131 million (not counting financial aid revenue from the state). That might sound like a lot of new revenue, but it isn't. Were both pieces in place, UC would be getting about half of the16 percent annual increase it had estimated it needs for several years running to recover from the Schwarzenegger and the Brown cuts. See my November post on the Regents meeting for context and for UCOP's chart on the subject. There are various ways to describe the problem: it is a $1.5 billion structural deficit (2011 values) or it is the $1 billion in cuts since 2008 that CFO Brostrom uses in public statements. A third way is even more ominous: the last Independent Audit Report of UC's fin...