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WHAT'S THE BUZZ on Governor Schwarzenegger's May Revised
Budget?
The following news release was distributed last evening from the CSU Chancellor's
Office.
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May Revise Keeps CSU Budget as Originally Proposed
(May 13, 2004)--The California State University is pleased that the May
Revise conforms to the Higher Education Compact announced Tuesday by Gov.
Arnold Schwarzenegger.
While the CSU will have significant cuts in 2004-05, the compact will
provide progressive increases beginning in 2005-06 that will permit the
system to begin to recover enrollment growth and instructional programs.
Details on the compact are available at <http://www.calstate.edu/BudgetCentral/110504compact.shtml>
The State Budget May Revision has proposed to keep the California State
University's 2004-05 budget with no changes from those originally proposed
by Gov. Schwarzenegger in January.
In addition, students will benefit by increased funding for financial
aid. The May Revise adds $10.4 million for Cal Grants that will cover
the 14 percent proposed fee increase for as many as 38,000 CSU undergraduate
students.
The $240 million or 9 percent cut proposed in the January Budget remains
in place keeping the 2004-05 CSU General Fund appropriation at $2.4 billion.
Student fees are proposed to increase by 14 percent for undergraduates,
20 percent for teaching credential candidates, 25 percent for graduate
students and 20 percent for out-of-state students. 20 percent of the fee
increase will be set-aside for financial aid. The CSU Board of Trustees
will vote on this proposal on May 19.
slk, 5/14/04