The California State University system is having money problems, according to a new analysis.
A report submitted to CSU’s finance committee shows a nearly $1.5 billion funding gap for the 2021-22 year. That figure doesn’t include the university’s $6 billion backlog in construction maintenance projects, CalMatters says.
The analysis finds that revenue from tuition and state support only covers 86% of the university system’s total costs, and only 68% of the costs for student services.
Some school leaders and lawmakers want CSU to increase tuition to balance the budget. But that may not be enough to close the gap. The report warns that “even with aggressive assumptions about increases in state General Fund and tuition,” the university won’t make nearly enough revenue to meet its costs by 2030.
The report’s authors say that other revenue sources are needed, like philanthropic donations, public-private partnerships, and research grants.
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