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GAAP

Generally Accepted Accounting Principles.

General Fund

Also known as State Appropriations. Expenditure authority from the State based upon its collected and/or estimated collection of revenues. On an annual basis, a portion of the State of California General Fund revenues is identified by the governor for use by the CSU system. The Office of the Chancellor then redistributes CSU’s appropriation funding to the 23 CSU campuses along with an estimate of the student fee revenues each campus is expected to collect based upon their projected student enrollment.

Goals Advisory Council (GAC)

“Goals Advisory Council is responsible for setting goals, priorities and future direction for the campus for the next 5 to 7 years. The Council is also responsible for setting timelines for attaining the goals.” [Academic Senate Policy Recommendation S05-10]

Governor’s Compact

In acknowledgment that long term solutions are critical to the challenges of the enrollment tidal wave and that strategic planning is essential to the success of the CSU, the Governor and the CSU agreed to a funding methodology for the fiscal years 1995/96 through 1998/99. This agreement was referred to as the Governor’s Compact. The purpose of this compact was to provide a consistent and dependable funding level to the CSU. In exchange for predictable funding, the CSU committed to key educational outcomes. Following 1998/99, the Governor committed to a new partnership agreement, which is reviewed/renewed with the CSU Chancellor, each fiscal year. Refer to Higher Education Compact.