State Approves 2008-09 Financial Plan

The New York State Legislature has approved the University 2008-2009 operating and capital budgets. For the senior colleges, the budget increases support by $52.7 million to fund the colleges’ mandatory needs. This increase is offset by a lump sum reduction of $17.7 million. Vice Chancellor for Budget and Finance Ernesto Malave said the University will meet this budget challenge through a combination of actions that will insulate the colleges’ base budgets as much as possible. The budget will allow the colleges to maintain their current full-time faculty levels, support additional faculty hires in critical areas, convert substitute hires to permanent tenure-track faculty, make investments in counseling services and expand health benefits for doctoral students. The state also approved $1.8 billion in capital dollars to move forward with six science building projects in support of the University’s Decade of Science initiative and for the relocation of the CUNY Law School and the Hunter College School of Social Work, among other projects. Complete details: