| UCSF AUDIT
UCSF is having a new audit by PricewaterhouseCoopers, reacting to criticisms from Senator Charles Grassley (R-IA). David Kessler, Dean of UCSF SOM charges that he was fired for raising questions about an $18 million annual budget discrepancy. "University officials have said that they had dealt honestly with Dr. Kessler and that the school was never in financial trouble, and they have pointed to an audit by the accounting firm KPMG and an internal report as confirming their positions." See media reports: 
REGENTS MEETING ARRESTS September 16, 2009
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Need money? The state of California does, so it is borrowing $1 billion from UC’s cash reserves. In addition, CSU will transfer $700 million. A Senate bill (SB 79) establishes an investment fund for the money, which the state can use if it runs low on cash. The universities will get above-market interest rates (1.5%), although this generosity will not extend to the 25% ($650 million each) state budget cuts to CSU and UC. The bill is unsponsored, except for the Committee on Budget and Fiscal Review. Surprisingly, no senator wants his or her name attached. For more see The Bee. The Real UC Financial Picture
UC say they must resort to drastic cost-cutting measures, despite access to $8.3 billion in investment accounts (excluding pension funds). The University has a high debt level, but most of the service is paid for by the state. The current balance sheet reflects a federal accounting rule change that under-represents the $12.9 billion at UC's disposal. Bob Samuels: "The combination of increased profits and augmented debt turns the UC into a giant hedge fund that reduces the pay for the majority of the employees as it pushes money to the top." |
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FURLOUGH STALEMATEIn October bargaining, UC requested CUE stipulate that we are at impasse¹. Contract and furloughs on hold. Complete reportLetter from CUE's Chief Negotiator, 11/4/09. |
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Broke UC lending state millions
Your eyes are not fooling you. |
BULLETIN Friday, Sept 11 In Sacramento on Thursday, the state Senate approved a measure that prohibits executive pay raises at UC and Cal State during years when state funding for the university systems does not increase. The bill now goes to the governor's desk. Its sponsor, Sen. Leland Yee (D-San Francisco), said it would "ensure that top execs are not living high on the hog, while the students are unfairly suffering." source: L A Times |
Recent Media Links — updated 11/16/09
Action Footage from The Regents meeting (CBS 5) Report: Big spenders at UC KTVU
Senate Rebukes Yudof "I think these people should get a sense of humor, is what I think." (Daily Nexus, UCSB) UC's poverty wages · Lakesha Harrison (Daily Bruin, UCLA) INDY BAY New York Times
UCLA Today Declining university system Commission for the future of UC (BusinessJournal) SF Gate UC breaks rules, overcharges for schools San Jose Mercury SantaCruz.com ABC 30 in Merced UC Pay in detail Pauley Pavilion Project (L.A. Times) — Funding for basketball Fresno lab killed — Lack of funding 
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