In The Loop – July 22, 2022
CT Colleges and Universities Continue to Try to Reduce Expenses
CT Agency Corner has been a featured part of In The Loop for about six years. We’ve continued to enjoy reporting on all the latest from the Executive Branch but figured a new title and logo was appropriate!
450 News (the address for both the main administrative building and OPM) will still highlight the latest from the executive branch and continue to offer in depth analysis on why certain decisions are being made and how they are being applied.
Whether it be through attrition or other cost cutting mechanisms, the Connecticut State College and University System (CSU) has been trying to identify the most appropriate ways to reduce costs while also not fracturing the services enjoyed by students across 17 of the system’s schools.
Here is a “by the numbers” evaluation on where the system currently stands and what could be considered next:
- CSU increased fiscal year 2022-23 tuition and mandatory fees for full-time community college students who pay out of pocket by $112 per semester and for state universities and Charter Oak students by $291 per semester. While on its face this does not seem like a big increase, keep in mind the community college system beginning in the next academic year will start to offer six credits for free for all students in the state. This was made possible by a law that passed in 2019 and was championed by outgoing State Senator Will Haskell (D-Westport).
- Overall, it’s anticipated that the CSU system is expecting a more than $250 million budget gap due in large from of benefit increases (including salary) and a dramatic decline in revenue due to the pandemic.
- CSU is in the process of working on saving money from consolidating 12 of the state’s community colleges into one network which is hoping to help with the high level of administrative costs associated with each of these schools, having a president and C-suite university officials.
- The one-time revenue solutions provided by the federal government kept the CSU systems afloat with very minimal deficits but now the close to $300M provided through ARPA will not be available in the long-term and more difficult decisions will need to be addressed by the full board…KEEP READING