Home / 2024 / August / Latest Budget Update

Latest Budget Update

To: UC Santa Cruz Staff and Faculty

From: Ed Reiskin, vice chancellor for finance, operations, and administration

August 06, 2024

Dear Campus Community,

As we prepare for the fall quarter, we will be providing additional updates on our budget situation, both directly to the campus and through unit leaders. We are currently estimating a core funds deficit of more than $100 million, a gap which we must work to reduce while maintaining our mission of learning, teaching, research, and service. 

As we’ve shared many times, our core budget primarily funds salaries and benefits of employees; therefore, reductions in positions need to be part of our solution to close our budget gap. Many of these will be open positions, but there are units without sufficient vacancies to meet this budget reduction need that may necessitate the elimination of some filled positions. 

Nearly all of the UC campuses are experiencing core funds challenges and the impact of state budget changes. We value the contributions of all of our employees and know that times of budget contraction are difficult for everyone. As an educational institution with so many different types of work and organizations, we are approaching these decisions strategically, cognizant of different divisions’ needs and functions, and are not anticipating an across-the-board campuswide reduction.

We will keep you informed about our progress to get the campus into a more financially sustainable position and appreciate your collaboration and commitment to UC Santa Cruz. 

Sincerely, 

Ed

Ed Reiskin
Vice Chancellor for Finance, Operations and Administration