1998-1999 Support Book 2 Documentation
Special Funds: Housing Program
This section identifies those programs supported by special fees assessed to students, faculty and staff receiving the benefits of the programs. Although these programs are not supported explicitly by state appropriations, the funds are classified as public service enterprise funds and are subject to state regulation. All Special Funds programs are controlled by financial and program policies of the Board of Trustees. The purpose of this presentation is to complete the report of proposed financial activity for the 1998/99 fiscal year.
The Housing Program in the California State University provides residential facilities for students.
The State Dormitory Construction Fund was established under the State Revenue Bond Act of 1947 and bonds were initially sold to support the construction of campus housing facilities. In 1957, the Legislature approved a residence hall program which was financed by both State and Federal funds. Today the Housing Program is a self-supporting program deriving its revenues primarily from fees collected for the use of the residence facilities. Funds are used for current operating expenses, maintenance and repair, improvements to facilities, and interest and principal payments on outstanding bonds. After payment of all authorized charges, the balances in any of these funds remain available for future program expenses.
The 1998/99 Dormitory Revenue Fund system housing capacity in The California State University is projected to total 24,867.
The total projected revenue for fiscal year 1998/99 provides approximately $76 million for housing operations. From this amount, approximately $17 million is provided for debt service for payments of principal and interest on revenue bonds issued to finance construction of student housing and major renovations.
Since fiscal year 1994/95, campuses have assumed a greater role in ensuring the fiscal health of their individual housing programs by having direct responsibility for their sources and uses of funds.