According to a report released today by the state auditor, 1.5 billion dollars in funds were kept in discretionary reserves….while the California State University System raised tuition, and lobbied the legislature for more state funding. That “surplus” was reportedly squirreled away between 2008 and 2018….which was the same time period in which tuition fees nearly doubled on all 23 campuses.
In response, C.S.U. Chancellor Timothy White said ‘the report was misleading….and mischaracterized the purpose of reserve funds, which are used to help to deal with state recessions, and also to cover the cost of maintenance (or other expenses previously paid for by the state).
