On Wednesday, the Appropriations Committee heard testimony on the Governor’s budget recommendations for CSCU and other higher education.
President Ojakian testified mid-afternoon (written testimony here
). The most important statement he made was that if the Governor’s budget was accepted and SEBAC did not produce savings, the CSCU would be looking at a 14% budget cut and would have to consider “fiscal exigency,” basically declaring bankruptcy. To be clear, he was not recommending a path to fiscal exigency, but he was very clear that the system requires restructuring to become fiscally stable.
President Ojakian’s testimony and question and answers with the Appropriations Committee can be viewed here
(his testimony begins at 2:29:45).
For more information on the impact of the higher education recommendations, please read the following articles:
This is only the beginning of budget discussions in Hartford. To influence these decisions, it is crucial that everyone get involved. Call your legislators. Visit their office hours in district to talk about higher educaion. And attend our Lobby Day on Friday, March 31!