California’s budget stalemate forces community colleges to borrow money, lose out on funding
The Santa Clarita Valley Signal
California’s budget stalemate has forced the state’s community colleges to borrow money and lose out on funding that would go toward offering much-needed classes, college officials said this week.
“In the months since the state budget deadlock began, California community colleges have been forced to survive by borrowing, freezing purchasing, delaying vendor payments and other drastic steps,” said California Community Colleges Chancellor Jack Scott in a statement.
In total, colleges have seen $840 million in deferrals, amounting to 15 percent of their annual funding.
At College of the Canyons, the Santa Clarita Valley’s only community college, administrators have dealt with nearly $44 million in state deferral payments.
“This is our basic funding,” COC spokesman John McElwain said. “This is the money we operate on.”
For instance, a payment to College of the Canyons of $2,147,589 was pushed back by three months.