TO: Campus Community
FR: Laura Lupei, Associate Vice President for University Budget and Resource Planning
The 2023-24 Campus Budget has been finalized and posted to the OpenBook portal, which can be accessed through the Budget Office website.
Over the summer, the state finalized the 2023-24 budget agreement, providing the CSU with a $227 million increase in unallocated base funding, in keeping with the Governor’s compact proposal. The budget also provides an additional $3 million to support various student support services and $25.5 million for one-time investments that are designated for projects on specific campuses.
With the additional support from the state to the CSU, the campus has received an increase to base funding of $3.4 million, which will cover mandatory cost increases mostly related to employee benefit costs.
Despite the additional funding from the state for this year, the campus continues to experience declining enrollment, affecting tuition revenue and contributing to an ongoing base deficit. Through a full-campus effort of reducing positions through reorganizations, the Voluntary Incentive Separation Program and attrition, the campus was able to make a base reduction of $8 million, resulting in a remaining base deficit for the 2023-24 year of $9.3 million.
A plan has been approved to fully resolve the remaining deficit in the 2023-24 year utilizing one-time funds, with many of the same approaches that have been used in recent years, including using prior year roll-forward balances, applying the last of the Higher Education Emergency Relief Funding, campus reserves and anticipated one-time savings in the current year. All strategies used to solve the remaining deficit in 2023-24 are one-time solutions, which means that we will still need to identify permanent, base solutions to resolve the remaining base deficit in 2024-25.
President Mike Lee and his leadership team continue to focus on multi-year enrollment and budget planning to increase enrollment and resolve the deficit as the campus has begun planning for the 2024-25 year. We encourage the campus community to engage with shared governance on this topic, including with their President’s Budget Advisory Committee representatives, and to attend the Fall Budget and Planning Forum this October. More details on the forum will be announced at a later date.
Thank you all for your hard work and contributions to our campus as we continue to make progress toward growing our enrollment and balancing our budget.
Please reach out to the Budget Office with any questions.
