Annual Budget Updates Section
To enhance transparency and keep the campus community informed, we have introduced a dedicated Annual Budget Updates section on our website. This page serves as a centralized resource where we provide a comprehensive once-per-year update on key budgetary developments, strategic financial decisions, and major changes impacting our institution.
- You can find the recording from the December 9th, 2024 meeting here.
What You’ll Find in the Annual Budget Update:
- Overview of the Budget Process – A high-level summary of how funding is allocated, including updates on revenue sources, cost considerations, and financial planning.
- Key Financial Changes – Highlights of any major shifts in State funding, Tuition revenue, or policy updates that impact the university’s budget.
- Strategic Priorities – A breakdown of how resources are being directed toward institutional priorities, including academic programs, student services, research, and infrastructure.
- Cost Assessments & Fixed Cost Updates – Information on increases in fixed costs, including salary adjustments, benefits, UCOP assessments, and Administrative Cost Recovery (ACR).
- Looking Ahead – A forward-looking section that previews expected budget challenges, opportunities, and areas of focus for the upcoming fiscal year.
Why This Matters
This annual update is designed to keep faculty, staff, and stakeholders informed about how financial decisions shape campus operations. By providing a clear and accessible summary, we aim to promote financial transparency, accountability, and campus-wide awareness of budgetary matters.
Stay Updated
Visit the Annual Budget Updates page each year for the latest insights into our financial planning and resource allocation.