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You’ve heard it all before—the state’s financial situation is horrible. And as such, so is the university’s. As of July, they had a budget shortfall in the amount of $813 million. So, the expected cuts came … unpaid furloughs, talk of paycuts, hiring freezes, fee hikes and to top it off, Chancellor Robert Birgeneau announced you won’t be able to stay out late in the libraries during finals anymore.
Luckily, the UC Board of Regents, beacon of fairness and fiscal responsibility, has been here to see us through this tough time. And in their meeting last month, the board approved an additional $500,000 to supplement exective pay at various campuses and also chose to create two new executive spots at UCSF.
Wait—what!?
The move was made in effort to retain executives who would be entitled to fat-cat salaries elsewhere at a time when they are being required to take on more duties. But then—we’re paying more money to attend fewer, larger classes, so what gives?
Shockingly, not all in the university community seem to be on board with the decision, notably union workers who say they’ve also had to take on extra work without an increase in pay.
We’re interested to see how this one plays out.
Image Source: cindylu under Creative Commons
UC Regents Approve Furlough Plan [Daily Cal]
Faculty Warn Salary Cuts May Damage UC System [Daily Cal]
Regents Approve Increases in Executive Pay and Benefits [Daily Cal]
Tags:in light of the economic downturn, srsly?, UC Regents
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Aug 11, 2009 at 4:42 pm
Well, at least the regents don’t lack the balls to make tough, unpopular decisions. Unfortunately, some tough, unpopular decisions can also be plain bats**t insane.