Gov. Schwarzenegger and UC, CSU Leaders Announce MultiYear Compact Addressing Funding and Accountability.

(From AScribe)

OAKLAND, Calif. -- Gov. Arnold Schwarzenegger, UC President Robert C. Dynes and CSU Chancellor Charles B. Reed today (May 11) announced agreement on a "compact" outlining their intentions for state funding levels and institutional accountability in the University of California and California State University systems over the next several years.

The agreement provides for annual growth in state funding for UC's basic budget and enrollment growth, beginning in the 2005-06 fiscal year, in exchange for UC's commitment to accountability in specified areas. The agreement extends through the 2010-11 fiscal year.

"After years of deep budget cuts with no end in sight, this compact brings the promise of renewed fiscal stability for public universities in California," Dynes said. "Under the compact, UC will receive funding to preserve its internationally acclaimed academic programs, to provide broad accessibility for promising California students, and to sustain its deep impact on the economy, health, and quality of life of California."

Dynes added: "I want to thank Gov. Schwarzenegger for his leadership, his support of higher education and his recognition that these universities have …