Sunday, February 5, 2017

Portland State budget shortfall: tuition increase likely - Jon Raby, Vanguard

Lower enrollment, rising wages, inflation and an expected decrease in state funding are the main contributors to the shortfall. In addition, there has been an approximate $12 million increase in retirement contributions to the Public Employees Retirement System by PSU. PERS was deemed a crisis by several media outlets last year. In December the governor’s office released its 2017–19 budget, in which $10.7 billion was allocated for education, an increase from the previous biennium of $9.4 billion. Education makes up 53 percent of 2017–19 General Fund/Lottery Fund Budget. As expected, the budget will likely not cover PSU needs according to FAC, but there is still time for many changes to happen before the budget is finalized. Next, the governor’s budget will be sent to the Ways and Means Committee for review.

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