The California State University, Stanislaus fiscal year operating fund budget was presented on Oct. 24 for the 2014-2015 fiscal year.

Russ Giambelluca, Vice President of Business and Finance, introduced the key points of university budget changes in a memo and summary to CSU Stanislaus President Joseph F. Sheley and Members of the University Community.

The budget allocation included plans exclusive to CSU Stanislaus, as well as the future of the CSU System-Wide Budget.

In a memo from President Sheley prefacing the budget summary, he identified that planning had begun this past summer, and budget requests were presented to UBAC (University Budget Advisory Committee) during Spring 2014. During this time, vice presidents from each department presented their monetary requests, at which point it was apparent the campus would face challenges in meeting sufficient financial needs.

The immediacy of these challenges to students becomes apparent when touching upon the issue of college affordability.

Though financial aid is a mandatory budget allocation, there is a projected decrease of over one percent in money allotted to this area when compared to the previous fiscal year.  This amounts over to $530,000 less devoted to financial aid for 2014-2015.   

“As a recipient of financial aid, I find a decrease in its funding saddening,” Garrett Smart (junior, Communication Studies) said. “The added stress of financial struggles can be detrimental to a student’s college career and even hinder them from finishing. More money should go to people pursuing education, not less.”

Russ Giambelluca highlighted the necessity for careful allocation of funds to the most immediate needs in the budget introduction.

Based on recommended priorities and the perceived need to approach budgeting conservatively over the next few years in the face of little new revenue likely coming our way, we have adopted a multiyear, diversified source approach this year in an effort to extend our expenditure capacity,” Giambelluca said.

With the 2016 phasing out of Proposition 30, the state measure which implemented a temporary tax increase to fund education, there are expected shifts in where money will be distributed as well as methods to bring money in.

This year, CSU Stanislaus will meet its obligation to the faculty and staff of the campus by adding dollars to the compensation pool, another mandatory allocation for CSU Stanislaus where dollars go to faculty, staff and management salaries and benefits.

Last year no money was taken from the budget for this purpose however, this year allotment to this area is expected to raise from zero, to nearly two percent, or close to two million dollars.

Portions of the budget have also been allocated in the form of one-time commitments that are expected to generate revenue.

These investments include more attention dedicated to the International Education Program.  With new enrollment growth funding restricted, and the sunset of Proposition 30, revenue from one-time investments is aimed at offsetting possible reductions in these limited times.

President Sheley is in agreement with the new and unchanged plans presented, and in a memo has acknowledged that the future requires additional precaution when facing the University’s financial decisions.

The CSU System-Wide Budget highlights decreases in funding mirroring the expectations for CSU Stanislaus, a limited availability of resources which all campuses are faced with recognizing and protecting.

The campus budget for the 2014-2015 fiscal year can be found at www.csustan.edu/UBAC.