2017- 2017 May Revision
Governor Jerry Brown issued his revision of the 2017 Budget where he cut $4 million from the General funds to offset the increase granted to Cal Grants to cover the tuition increase. Cal PERS was granted an influx of $6 billion to help offset pension liabilities.
The CSU needs a more robust base funding to help serve students, and support the staff and faculty in fulfilling that mission, so base funding remaining the same was a disappointment to the union. However, the infusion of $6 billion into PERS will help stabilize our retirement fund for the next 20 years and is a sound investment for California.
It is now the Legislature's turn to see how closely they agree with the Governor and if they will add to that base. One possible target would be adding $77 million and force the CSU to reverse tuition increases. Stay tuned as the budget has to be done by June 15th.
To view full summary: http://www.ebudget.ca.gov/FullBudgetSummary.pdf