SF State News {University Communications}

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Employee update from the Chancellor's Office: CSU employees will receive paychecks

Note: the following e-mail was sent on 6/26/09 to all faculty and staff.


Dear faculty and staff:


The Chancellor's Office has asked that we share this update on payroll with you.


-- Robert A. Corrigan, president


State May Have to Issue IOUs; CSU Employees Will Receive Paychecks

State Controller John Chiang has announced that he will have to issue registered warrants or "IOUs" as early as July 2 if the legislature and governor cannot find a solution to close the $24.3 billion state budget gap. Chiang said the state will have a $2.8 billion cash shortage at the start of the fiscal year July 1 which could grow to $6.5 billion in September in the absence of a balanced budget.  More information: http://www.sco.ca.gov


CSU employees, however, will be paid as they normally are and will not receive IOUs.


For related budget news, visit http://www.sfsu.edu/~news/2009/summer/15.html

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