New budget deficit gives cause for concern
By Peter J. Suter
Vice Chancellor Dianna Gonzales reported that the estimated $11 million deficit for this fiscal year has now swollen to $31 million. This gives the college little time and not many options beyond a downsize of class offerings and employee positions to present a balanced budget to the state chancellor’s office on June 30.
Failing to reach a balanced budget and keep within the five percent reserves could put City College in jeopardy of receiving a downgrade of the college’s bond rating and trigger a warning from its accreditors– similar to that of the 2012 “accreditation crisis.”
Last semester, Chancellor Mark Rocha announced his plan to cut 400 of the college’s current 1,200 credit class offerings by the year 2025– that number has now increased to 500, representing a 41 percent reduction.
The Chancellor and board broke promises not to cut hours and hires after raising the minimum wage for student lab-aids last semester.
The Guardsman will be following up on these concerns in the upcoming issue on March 20.