SAN FRANCISCO—On September 23, City College of San Francisco (CCSF) released a letter explaining its financial and mismanagement issues. The university has been developing the final budget and five-year budget plans, which will be authorized at the Board of Trustees meeting on October 22.
Stephanie Droker, Rd. D. of Accrediting Commission For Community And Junior Colleges (ACCJC) used the Composite Financial Index (CFI) to analyze CCSF’s financial issues. ACCJC concludes that CCSF is falling into the at-risk category due to “deficits averaging $13.3 million over the three year reporting period, cash reduced from $53 million to $575,000 over the three year reporting period, salaries were 92.3% of total expenditures in 2018-19, multiple leadership turnover, and audit finding: financial condition of the District.”
Rajen Vurdien, chancellor of CCSF, commented that the commission approved ACCJC’s monitoring and worked in collaboration to overcome the fiscal crisis. There would be a special Board of Trustees meeting on Thursday, October 8 to review the school’s internal governance and deal with budgets. CCSF will offer additional information to the ACCJC by December 4, to recover from the financial difficulty.
“In the meantime, I want to reassure our students, faculty and employees that our academic programs are as solid as ever with our dedicated faculty and staff having the best interests of our students at heart. We will continue to stay focused on our mission to educate students and ask that you do the same. I will continue to hold my open forums and provide information when it becomes available,” said Vurdien.