UC Regents Hear Ideas For Raising Money

Ann McClure's picture
Monday, September 17, 2012

Anyone who needs a lot of money, as the University of California says it does, gets thinking about the fastest, easiest ways to bring in cash:

Cut employees' health care plans: $100 million. Raid the endowment: $20 million. Charge more for parking and shift money to the pension plan: Could rake in millions.

"I know some of these ideas will give real heartburn to the people around this table," UC President Mark Yudof told the regents who gathered this week in San Francisco.

They were at the Mission Bay campus of UCSF to consider - but not yet vote on - more than a dozen ideas for saving and raising money, offered by UC officials who said the 10-campus system faces a $300 million budget gap this year that could balloon to $1.5 billion in five years. At stake, they said, is UC's standing as the world's greatest public university.

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