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July 30, 2003
To: Campus Community
From: Chancellor M.R.C. Greenwood
Re: Chancellor's budget update
Dear Colleagues:
Yesterday afternoon at the end of a marathon session, the California Assembly approved a budget for the 2003 - 04 fiscal year (FY). Already approved by the Senate, it is now being forwarded to Governor Davis, who has indicated he will sign it.
UC Office of the President has issued a news release providing more detail about the impact of this budget. Please see http://www.ucop.edu/news/archives/2003/july30art1.htm
In brief, for the University of California, the budget requires an additional $111 million in cuts beyond the amount in the Governor's May-revised budget. Instead of asking individual campuses to take further cuts -- at UC Santa Cruz, we already are reducing our FY 2003 - 04 budget by approximately $14 million -- Regents have decided to cover the undesignated portion of this increase in the current year through a combination of borrowing ($47.5 million) and raising student fees by 30 per cent ($51 million).
However, the budget forwarded to the governor leaves California with a projected $10 billion problem that will have to be addressed for FY 2004 - 05. So, although we don't expect additional reductions beyond those already planned for this year, it is clear that we must expect even deeper cuts next year.
This is very serious news and a challenge to our future aspirations. The stark reality of both current and anticipated budget cuts underscores the importance of the Executive Budget Committee (EBC) effort. We all need to work hard to ensure that the EBC process will yield significant savings to help us achieve the necessary permanent budget reductions.
In the meanwhile, we expect to continue with ongoing faculty recruitments in order to accommodate the students expected this year. And, we must continue to make every effort to reduce expenditures.
Best regards,
M.R.C. Greenwood
Chancellor
Maintained by:pioweb@ucsc.edu