Finance

2015/16 Budget Outlook

On June 24, 2015, Governor Brown signed and enacted the 2015/16 California State Budget, appropriating general funds of $115.4 billion.  In light of state revenues exceeding budget estimates, the governor in collaboration with the state legislature, approved full funding of the CSU Board of Trustees’ support budget in the amount of $216.5 million – $97 million above the governor’s January proposal of $119.5 million.  The 2015/16 Trustees Support Budget is available here.  A fully funded support budget means that the CSU system will receive funding for increased access (additional enrollment) more student success and completion initiatives, systemwide compensation increases, and deferred maintenance funding to address vital infrastructure concerns.

SJSU is anticipating a base funding augmentation through a combination of state general fund support and tuition fee revenue from additional enrollment.  At San José State University, a fully funded support budget means that we are able to admit more CSU eligible students, encourage students to increase their unit load (thus speeding up their time to degree), address rising mandatory costs such as increasing health and retirement rates, offer new student success initiatives such as increased advising, fund high priority projects such as addressing our campus’s aging infrastructure, create a base reserve fund for rainy days, and fully implement SJSU Vision 2017.  Implementation of the 2015/16 budget is currently underway and a full update on budgeted funding priorities will be made in the fall.

Refresh Your Finance Skills

Summertime, before the Fall semester begins again, is the perfect time to refresh your skills and knowledge of everything Finance! Sign up for Finance training sessions, or attend one of our Open Labs. Bring your questions about using any of our systems, FTS, CFS, or the CFS Data Warehouse. For example, find out what the best practice is when completing a Travel Authorization or Reimbursement in FTS. Or, how to create a Requisition that clearly represents what you need to purchase. If you have questions, we'll provide the answers!

For more information on Finance training, please use the following link:

http://www.sjsu.edu/finance/financeconnect/training/