For students who want to know where their money goes, President Paul Zingg is hosting a budget forum today to make the university community more aware of how its money is distributed and spent.
The first Institutional Financing 101 budget forum will be held at 3 p.m. in Performing Arts Center, Room 144. The forum is open to students, faculty and community members.
"The goal of the budget forum is to provide easy-to-understand information on how the university's budget and financing work," Zingg said in an e-mail.
The forum will present information about the state, the California State University system and the university's operating budgets.
The forum will include Zingg's vision for the university's budget, predicted challenges in 2008 and time for audience feedback and discussion.
"(Zingg) wanted people to understand where money comes from and how it is used for students," said Sean Farrell, associate vice president for business and finance.
Since implementing Zingg's strategic plan in May 2006, transparency has been one of the most important items on his agenda, Farrell said.
Sharing information with the campus community helps build trust, he said.
Although the amount of next year's budget cannot be determined at this point, Zingg said he wants people to get a general understanding of how the budget works.
"Our budget could increase by 5 to 6 percent next year," Zingg said. "But that's entirely dependent upon the governor and the Legislature. The same is true with
student fees."
The state budget should be decided upon by June 30. But the state did not have a budget until the end of August this year, said Stacie Corona, budget analysis and research director.
"President Zingg wants to do a forum every fall and possibly a follow-up forum in the spring," Corona said.
A follow-up forum would provide more specific information about the budget rather than a general introduction and overview, she said.
Those planning to attend should read preparation materials prior to the forum, which are posted on the Financial Services Web site. It includes basic information about budget cycles for the state and CSU system, fund definitions and financial terminology, Corona said.
"People simply not knowing about how the budget works can equal mistrust," Farrell said. "A forum like this can resolve that mistrust."
Amanda Drew can be reached at adrew@theorion.com
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