Campus News
Campus shares update on third quarter financials, state budget
UC Santa Cruz continues to release quarterly financial summaries to provide regular updates on revenues and spending in core funds.
To keep the UC Santa Cruz community updated on the campus budget, UCSC has published the 2025-26 Q3 Core Funds Summary. Additionally, California Gov. Gavin Newsom released a revised state budget proposal for 2026-27, which offers additional insight into the next fiscal year.
UC Santa Cruz continues to release quarterly financial summaries to provide regular updates on revenues and spending in core funds. The reports include information about projected and actual revenues and spending for the fiscal year. Changes in state or federal funding could impact revenues and changes in expenditure patterns could affect the campus budget.
Quarterly budget summary
For fiscal year 2025-26, UC Santa Cruz is operating a $1.03 billion budget.
The projections in the fiscal year 2025-26 Q3 Core Funds Summary show the campus maintaining progress toward reducing the $79 million structural deficit in core funds. Current projections show the Core Funds deficit to be in the range that UCSC had previously projected for this fiscal year.
“We continue to navigate a challenging budget environment together, and we’re grateful to everyone who is engaging in responsibly managing their budget,” said Ed Reiskin, chief financial officer and vice chancellor for Finance, Operations, and Administration. “We’re making real progress, and our shared strengths give us a strong foundation to build on. Ahead, we see meaningful opportunities: thoughtful enrollment management tied to new student housing, targeted research initiatives, and deeper philanthropic engagement. Thank you for your continued partnership.”
Campus forms advisory committee to advise on budget and strategic initiatives
UC Santa Cruz is forming a new advisory group made up of faculty, staff, and students to gather ideas and feedback about what’s best for the university as it works to increase revenue and reduce spending.
The newly constituted Budget Advisory Committee (BAC-II) will provide advice and make recommendations to the chancellor and campus provost and executive vice chancellor on various campus budget issues. Following review and analysis, recommendations ready to move forward will be shared for Academic Senate consultation.
The committee will be co-chaired by Ed Reiskin, vice Chancellor for Finance, Operations, and Administration and CFO, and Paul Koch, professor of Earth and planetary sciences
The following people have agreed to serve on the committee:
- Laura Arroyo, AVC for Colleges, Housing and Educational Services
- John Macmillan, Vice Chancellor, Research
- Amber Blakeslee, Associate Vice Chancellor, Budget Analysis and Planning
- Jasmine Alinder, Convener of the Deans, Dean of Humanities
- Lissa Caldwell, Incoming Chair of the Academic Senate, Professor of Anthropology
- Raphe Kudela, CPB Chair, Professor of Ocean Sciences
- Natalia Lazzati, Grad Council, Professor of Economics
- Bruno Sansó, CAFA Chair, Professor of Statistics
- Maziar Toosarvandani, CEP, Professor of Linguistics
- Lauren Morgan, Senior HR Leader/SMG Coordinator, SAB representative
- Pavitra Kanagaraj, GSA representative
- Ludim Gleichauf, Assistant Dean for Planning, Finance & Operations, Physical and Biological Sciences Division
- Pending, SUA representative
Governor issues revised state budget proposal
Gov. Gavin Newsom released a revised budget proposal for 2026-27 in mid-May. The updated budget proposal includes $5.4 billion for the University of California. This is the same amount proposed in the January preliminary proposed budget and provides an increase of $411.6 million in new funding for the system over the 2025-26 budget.
UC President James B. Milliken thanked Gov. Newsom for his leadership and sustained support of the University of California over the years.
“The UC funding included in the May revision will help ensure that the university remains affordable and accessible to California students,” Milliken said. “As the University of California faces ongoing federal funding uncertainty and increasing operational and labor costs, state funding for UC is more important than ever.”
California lawmakers are now working to review, adjust and finalize the budget.