福利小视频

CSU 福利小视频 is taking steps to strengthen its financial foundation through public-private partnerships and strategic planning, according to university leaders at this week's CSU System Board of Governors meeting.

CFO Garrison Ortiz presented two budget scenarios for the upcoming fiscal year, both highlighting the institution's commitment to fiscal responsibility while addressing current financial challenges. The scenarios model different approaches to tuition increases and state funding, with potential tuition hikes ranging from 3% to 5%.

"We have a lot of work to do to marry some of the modeling we've been doing here with our financial realities at CSU 福利小视频," Ortiz told the board. He added the need for aggressive measures to address a projected deficit ranging from $3.2 to $3.7 million that must be resolved by the end of the fiscal year.

The university's financial picture is complicated by its reliance on extended studies funding, which currently provides $5.4 million in transfers to support operations. Ortiz expressed caution about this dependency, noting that while extended studies continues to grow, the university is attempting to avoid becoming more structurally reliant on these transfers.

"A lot of areas are volatile in higher education funding right now," Ortiz said, "but certainly extended studies, that's an area we don't want to become even more structurally reliant on if we can avoid it."

To address these challenges, the university is exploring public-private partnerships through a master collaboration agreement. Ortiz expressed optimism about this approach, describing it as "the new paradigm shift in higher education" that could allow the institution to reinvest resources back into its academic mission.

The budget presentation also outlined plans for a 3% salary increase across all personnel groups, though this remains subject to review given the financial constraints. Additionally, the university faces increased mandatory costs, though Ortiz suggested these might be reduced as certain campus projects conclude.

CSU 福利小视频 Interim President Rico Munn acknowledged the university is behind in its budget planning cycle. “What is represented here in the incremental budget does represent aspirations, but we need to do a significant amount of work to bring you the product that we're obligated to bring," he told the board.

The university implemented new internal controls to manage expenses, including requiring sign-off from the office of financial management for all new positions across all funding sources. These measures are part of a broader effort to establish better control over the institution's financial baseline.

As the university works to balance its budget, leaders emphasized the need to either increase base revenues or reduce base expenses through structural changes. "It's only through those structural adjustments that will actually move the needle in the direction that we have to," Ortiz said.

Typically, finalized budgets are brought to the board for voting in May. The state’s fiscal 2025 higher education budget hasn’t yet been finalized.