1. California's Budget Problems Leave Community Colleges Holding IOU's.
- Author
-
Keller, Josh
- Subjects
- *
COMMUNITY college finance , *GOVERNMENT aid to higher education , *HIGHER education , *RESERVES (Accounting) , *SCHOOL budgets , *LOANS , *MANAGEMENT , *EDUCATIONAL finance , *ECONOMIC policy ,REVENUE - Abstract
The article discusses delays in state aid to community colleges in California. The author reports that while community colleges did not receive significant budget cuts, the state government has delayed financial aid to community colleges until additional revenue is received. Declining housing prices and state discontinuation of public works projects have also adversely affected community colleges. Colleges and districts that have maintained reserve funds may continue to construct facilities and purchase equipment, while others may have to delay construction projects and seek loans from private investment banks.
- Published
- 2009