Yesterday it was reported that the UC system was so broke it would have to turn away as many as 30,000 students who are eligible to attend college.
Now we are starting to understand why.
reports today that the UC system is shelling out more than $4 million in incentive pay to its employees.
The news came the day after UC President Mark Yudof announced that the university system was facing a $1 billion budget shortfall, thanks to state cuts, increasing pensions, and higher salaries.
“The moment is fast approaching when the university will no longer be
able to guarantee admission to all California applicants who meet the
eligibility criteria,” he says in the Chronicle.