California Budget Crisis
On June 28, both the Assembly and the Senate approved a budget bill for 2011-12 that included a cut of additional $150 million to the CSU bringing the total reduction of General Fund Support to $650 million for next year.
It is still too early to know what the dollar impact will be on San Francisco State University but is anticipated that that the SF State share of that cut will be at least $40 million.
Equally as alarming, the final budget relies on increased current-year revenue estimates of $1.2 billion to reflect higher than anticipated revenue since May and approximately $4 billion more in revenue to the 2011-12 year. If the revenue does not materialize, there will be mid-year tiered trigger cuts, most of which would be effective January 1, 2012. If the state only receives $2 billion to $3 billion, the state will impose approximately $600 million in cuts including an additional $100 million to the CSU.
As we learn more, and as we work to keep SF State in fundamental respects the university we know and value, we will continue to communicate with the campus community and share additional information as it is received.