Chancellor’s Letter
It was just over ten years ago that the State of California cut funding for higher education as part of a financial retrenchment in response to the Great Recession. Ensuing tuition increases helped to partially close the resulting budgetary gap, but the financial foundations of the campus were weakened and there were legitimate fears regarding our ability to sustain Berkeley’s excellence. In that context, I am delighted to announce to the Cal community that, as of June 30, 2019, our operating budget is balanced.