March 6, 2009

California's Budget Problems Leave Community Colleges Holding IOU's

By JOSH KELLER

When California approved its budget last month, the community-college system managed to escape the sharp budget cuts that befell most other agencies. But the state's fiscal troubles have nonetheless created a cash crisis for two-year colleges.

As part of its plan to close a $41-billion budget deficit, California will delay providing $540-million in aid to its community colleges this year, forcing them to come up with the money for several months while the state waits for more revenue

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