| UCSF AUDIT
UCSF is having a new audit by PricewaterhouseCoopers, reacting to criticisms from Senator Charles Grassley (R-IA). David Kessler, Dean of UCSF SOM charges that he was fired for raising questions about an $18 million annual budget discrepancy. "University officials have said that they had dealt honestly with Dr. Kessler and that the school was never in financial trouble, and they have pointed to an audit by the accounting firm KPMG and an internal report as confirming their positions." See media reports: CUE Mandatory flu vaccinations are being instituted at UCSF for select employees.
REGENTS MEETING ARRESTS September 16, 2009
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The Real UC Financial Picture
The University claims poverty. Moody's Investor Service begs to differ, issuing a top bond rating, Aa1.
UC claim they must resort to drastic cost-cutting measures, despite access to $8.3 billion in investment accounts (not including pension funds). The University has a high debt level, but most of the servicing is paid for by the state. The current balance sheet reflects a federal accounting rule change that under-represents the $12.9 billion at UC's disposal. With increased medical profits, skyrocketing student fees, cost cutting and as the largest recipient of federal research and development spending, UC is rolling in money. A spike in federal funding is coming from the trillion-dollar spending bill. Where does the money go? Construction. More construction. Salaries. Not your salary; in 2008, the top 2% of UC's employees received 10% of the total compensation. The total for those making above $200,000 increased 80% in two years, from $640 million to $1 billion. Bob Samuels: "The combination of increased profits and augmented debt turns the UC into a giant hedge fund that reduces the pay for the majority of the employees as it pushes money to the top." |
FURLOUGH STALEMATEIn October bargaining, UC requested CUE stipulate that we are at impasse¹. Contract and furloughs on hold. Complete reportLetter from CUE's Chief Negotiator, 11/4/09. LAYOFF ALERTLayoffs are off, for now. If you hear of pending layoffs or receive any notices on this subject, call CUE immediately.Sign nothing. Say nothing, except that you will get back to them. Then please read this. |
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Broke UC lending state millions
Your eyes are not fooling you. |
BULLETIN Friday, Sept 11 In Sacramento on Thursday, the state Senate approved a measure that prohibits executive pay raises at UC and Cal State during years when state funding for the university systems does not increase. The bill now goes to the governor's desk. Its sponsor, Sen. Leland Yee (D-San Francisco), said it would "ensure that top execs are not living high on the hog, while the students are unfairly suffering." source: L A Times |
Recent Media Links — updated 11/16/09
Action Footage from The Regents meeting (CBS 5) Report: Big spenders at UC KTVU
Senate Rebukes Yudof "I think these people should get a sense of humor, is what I think." (Daily Nexus, UCSB) UC's poverty wages · Lakesha Harrison (Daily Bruin, UCLA) INDY BAY New York Times
UCLA Today Declining university system Commission for the future of UC (BusinessJournal) SF Gate UC breaks rules, overcharges for schools San Jose Mercury SantaCruz.com ABC 30 in Merced UC Pay in detail Pauley Pavilion Project (L.A. Times) — Funding for basketball Fresno lab killed — Lack of funding
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| ©2010 Coalition of University Employees |
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