Stabilized College Finances, Ended Structural Deficits

During the Pandemic, when California Community Colleges lost 20% of their students and City College lost vital tax revenue, John got to work delivering solutions. The Board stabilized the College's finances and ended the structure deficits. It satisfied all financial requirements of accreditation, the state, and our auditors. And we now have a healthy reserve fund to get City College through the next recession.

Although local sales tax revenue has not recovered to pre-pandemic levels, and nationwide community college continued to decline during this past spring semester, the City College Board of Trustees had made some hard decisions that have put the College in a strong financial position.  This has also put the College in a strong position for the accreditation process that starts this year.

Elimination of the college's structural deficit has not only balanced the budget, but has have freed up funding to support student's needs. Some of milestones include:

• A fully funded reserve fund two years in a row (required for accreditation)

• Funding to replace outdated and broken student computers and equipment (also required for accreditation)

• Funding a backlog of scheduled maintenance of student facilities (another accreditation requirement)

• Funding to rebuild and simplify the online registration system

• Raises for faculty to bring them in line with market rate for the Bay Area, important in the retention of the best faculty for our students.

The College is now in a position for sustainable growth in the coming semesters and has a sizable reserve to whether state funding cuts due to a potential future recession.

See also this City College press release: https://www.ccsf.edu/news/ccsf-stabilizes-finances-sustainable-2022-23-budget