Meeting of the Board of Regents | April 2008
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THE STATE EDUCATION DEPARTMENT / THE UNIVERSITY OF THE STATE OF NEW YORK / ALBANY, NY 12234 |
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TO: |
The Honorable the Members of the Board of Regents |
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FROM: |
Jeffrey Cannell |
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SUBJECT: |
Report on Office of Cultural Education Finances |
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DATE: |
March 21, 2008
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STRATEGIC GOAL: |
5 |
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AUTHORIZATION(S): |
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SUMMARY
Issue for Discussion
Office of Cultural Education (OCE) finances, including the status of OCE’s major financial account. This report will facilitate a discussion of issues in maintaining adequate revenues to support Cultural Education programs in the future.
Background Information
The Cultural Education Trusteeship Committee has received regular reports about the financial status of Cultural Education accounts. At the most recent committee meeting on March 18, 2007, Office of Cultural Education staff provided a written and oral report, which identified major funding sources and special revenue accounts and explained the types of programs, services, and personnel that each category of funding covered. The report also indicated that the Cultural Education Account is facing a serious funding shortfall as a result of revenue declines and increased transfers of funds from the account for other purposes.
Proposed Handling
This updated information will come before the full Board in April for discussion.