Redirecting Unspent Growth Funds

At its January 2006 meeting, the Board of Governors directed the Chancellor and staff to work through the consultation process to develop a plan for redirecting unspent 2005-06 growth funds, to the extent that they materialize, to meet key system priorities that were not addressed in the Governor’s proposed 2006-07 State Budget. The Chancellor’s Office staff convened a meeting of the “Budget Workgroup” to develop a plan and recommendations for the redirection of unspent growth dollars.According to the Chancellor’s Office, based on the first principal (P-1) apportionment FTES of 2005-06, about $68 million of unspent growth appropriations may be available for redirection. This projection, however, is subject to considerable revision, depending on actual enrollments for the upcoming winter, spring, and summer terms. Read the rest of this entry »