Fiscal Lesson: The State University System Has More to Learn from the Editorial Board of the Pittsburgh Post-Gazette
"The State System of Higher Education learned a lesson from the risky construction financing moves that unraveled at California University of Pennsylvania shortly before the ouster of the school's president. However, the system hasn't yet mastered Fiscal Management 101. The state system, made up of 14 universities including California, announced last week that campuses will have to put their own share of funding into system-controlled accounts before they begin work on projects financed with system-backed bonds. This measure is akin to requiring a home buyer to put some cash into a purchase before acquiring a mortgage, and it just makes sense."
"The State System of Higher Education learned a lesson from the risky construction financing moves that unraveled at California University of Pennsylvania shortly before the ouster of the school's president. However, the system hasn't yet mastered Fiscal Management 101. The state system, made up of 14 universities including California, announced last week that campuses will have to put their own share of funding into system-controlled accounts before they begin work on projects financed with system-backed bonds. This measure is akin to requiring a home buyer to put some cash into a purchase before acquiring a mortgage, and it just makes sense."
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