California State University Outlines 2014-15 Budget Expenditure Plan
July 22, 2014
At their July 2014 Board Meeting, California State University Trustees reviewed the system’s 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.
“With the additional funding provided in this year’s budget, the California State University can admit new students, bolster programs that improve student outcomes and reinvest in the talented employees who have sacrificed for many years while remaining committed to the success of our students and the mission of the university,” said CSU Chancellor Timothy P. White.
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 systemwide 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 system’s 45,000 employees. The final amount of any employee compensation increase will be negotiated through the collective bargaining process.
“Faculty and staff have a direct impact on student success and outcomes, and by investing in our employees we are making a long-needed investment directly in student achievement,” added White.
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 systemwide revenue bond (SRB) program or a separate stand-alone debt program.
About the California State University
The California State University is the largest system of senior higher education in the country, with 23 campuses, approximately 447,000 students and 45,000 faculty and staff. The CSU awards more than 100,000 degrees annually and since its creation in 1961 has conferred nearly 2.9 million. The CSU is renowned for the quality of its teaching and for the job-ready graduates it produces. The mission of the CSU is to provide high-quality, affordable education to meet the ever changing needs of the people of California. With its commitment to excellence, diversity and innovation, the CSU is the university system that is working for California. Connect with and learn more about the CSU at CSU Social Media. Show how the CSU matters to you and take action.