(City College of San Francisco) CCSF close to bankruptcy, state report says
Source: SF Chron
City College of San Francisco is perilously close to bankruptcy in part because it employs nearly twice as many faculty as similar colleges and pays them better - yet educates no more students on average, says a new financial analysis of the state's largest public school.
The college got into trouble because, unlike other colleges, it failed to make the budget cuts necessary to keep up with reductions in state funding, never set aside money for its growing retirement obligations, and "has provided salary increases and generous benefits with no discernible means to pay for them," says the review by the state's Fiscal Crisis & Management Assistance Team, authorized by state law to help public schools in financial trouble.
For example, beyond vacation, employees receive 23 paid holidays and work less than 40 hours a week.
As City College fights to retain its accreditation and stay open, the new report flings back the curtain on a series of management errors that may doom the college of 86,000 students - or help it, if it's not too late.
Read more: http://www.sfgate.com/bayarea/article/CCSF-close-to-bankruptcy-state-report-says-3875651.php
defacto7
(13,485 posts)23 paid holidays and work less than 40 hours a week and are paid more... well it takes more to live in SF for one.
Actually, it sounds like a lot of European Universities I know of only less paid holidays. They seem to be doing fine. What gives here?
crazy homeless guy
(80 posts)...that they are known for offering cheap general classes. Something like $25 a credit hour. To put that in perspective I think $25 a credit hour would be a low price for a community college in the middle of Kansas.
crazy homeless guy
(80 posts)Almost 5 weeks of vacation at less than 40 hours a week and they are paid better than there peers.... I didn't read the article but am I supposed to feel bad for them?
Do they own the land where their building is located downtown. I don't know what that plot or any plot goes for but I would take a wild guess that the min they should take for that plot is 35-40 million.
NBachers
(17,110 posts)They filter out into the community at large and can't restrain themselves from going on traffic-infraction-hunting expeditions against motorists unfortunate enough to be driving anywhere near CCSF.
They'd be sad clown rejects if they weren't so annoying.
JRLeft
(7,010 posts)AsahinaKimi
(20,776 posts)I nearly went there, for some special classes. I guess I will have to look elsewhere, now.
CreekDog
(46,192 posts)or waiting for them to announce that they will close --which they haven't said they will do...
before giving up on them?
this is a college of almost 100k students. it may get downsized or cut, but the idea that it'll go away, and you've already put up the tombstone, is way hasty.
besides you're in SF. where are you going to go? if City closes, all the neighboring campuses are going to get slammed.
AsahinaKimi
(20,776 posts)When I left UC Berkeley. I went to a private institution for studying the language that I needed. It was more expensive but the classes were far less crowded. I probably could afford it now, but I need to see what options I have open to me.