CSU Trustees to Review 2004-05 Proposed Budget at its Nov. 19 Meeting

Chancellor Charles B. Reed issued the following statement announcing the postponement of the meeting:

“In preliminary discussions with the new administration, it is clear Governor-elect Schwarzenegger is attempting to address the state’s budget deficit immediately upon taking office. While the staff in Finance has been working towards preparation of a budget for the new Governor to present to the Legislature, the change in leadership quite naturally has resulted in a reassessment and new evaluation of priorities for the incoming Governor.

“The Governor-elect is proposing a special session of the Legislature that could immediately begin addressing the state’s fiscal crisis. Given the uncertainty of any CSU mid-year budget issues as a result of the special session, we have decided to postpone the adoption and submittal of the Trustees’ budget. This additional time will allow more information about the state’s fiscal situation to be available.”